The electrical energy sector in Spain has suffered an important transformation during the last years. Following the recommendations of the International Energy Agency (IEA), traditional approaches of energy planning are replaced by a new policy considering: liberalization of markets, competitiveness of costs, security of supply and environmental protection. In this new strategic framework, the selection of electrical technologies supposes to assume certain risk to humans, environment and property. This suggests the convenience of adapting the electrical supply capacity planning based on a traditional cost-benefit analysis by the inclusion of the risk dimension. Competitive comparison of the different technologies of electricity supply based on a risk-cost-benefit (RCB) analysis should yield decision makers to select the most appropriate one as regard to these three dimensions. The paper presents the fundamentals of the RCB analysis in electrical supply capacity planning using an example of application. Strengths and weaknesses of the different technologies are revised from the results achieved in this example comparing both traditional CB and RCB approaches.
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