Management of Weather and Climate Risk in the Energy Industry

Weather and climate information is an important element in policy/decision making relevant for the energy sector, both within the context of climate change adaptation and climate change mitigation. For instance, weather forecasts are routinely employed in the energy sector from energy producers to suppliers, and from financial analysts to national regulators to assist in decision-making. Given the diversity of the energy sector, this information is used for several purposes such as for pricing the cost of energy or that of financial instruments. Other climate information, such as that from seasonal and decadal forecasts, is also starting to be included. In addition, weather and climate information is naturally a key element in the development and use of renewable energy resources such as wind, solar and hydropower.§After an introductory part on the production of weather and climate information (e.g. forecasts, reanalyses) in the context of energy applications, and one on policies for the transfer between weather and climate and energy industry, the book delves into applications for the many facets of the energy industry, from the oil/gas sector to the renewable energy to demand forecasting, thus providing an inclusive state-of-the-art picture of the interaction between weather, climate and energy.