A Study on Economic Evaluation for Pipeline Renewal Using Contingent Valuation Method and Forecasting Pipeline Burst

摘要

In Korea, the percentage of pipelines more than 21 years old is reaching 22.7% and the demand for renewal will increase rapidly. This study is intended to determine the validation of renewal through Contingent Valuation Method (CVM) and through the estimation of pipeline burst in the future. Considering calculated benefit and cost, analysis period and social discount rate, the benefit/cost ratio is calculated and the result of B/C value is 1.004. Since the ratio of benefit/cost is bigger than 1.0, pipeline renewal with rehabilitation and double-piping is financially validated in this study.