Protecting asset value and driving performance with a dynamic,risk-based contingency fund

We present a risk-based contingency fund management methodology to mitigate the impact of external risks on asset value and performance. Many asset intensive industries, such as water and energy utilities, are significantly affected by external risks such as extreme weather events. We put the case for a centrally held risk-based contingency fund that would mitigate against ‘medium’ impact ‘medium’ probability events that fall outside of large losses covered by insurance and smaller ‘normal’ operating losses. Our risk-based contingency approach is appropriate for short-term business planning (1–5 years) and would complement longer term planning, for example climate change adaptation and mitigation strategies. Our approach offers a risk-based methodology to manage contingency that is explicit and defensible. Critically, our methodology allows contingency to be managed dynamically as risk probabilities and impacts change, creating a mechanism for contingency funds to be periodically released if risk exposure reduces. The long-term benefit of dynamic, risk-based contingency is to reduce the impact of external risks and support long-term sustainability.     

Sizing and Costing of Electrostatic Precipitators

This is the second of a two-part article that reviews electrostatic precipitation theory, presents size estimating methods, and gives costing procedures for a variety of electrostatic precipitator (ESP) types and sizes. Part I of the article, which appeared in the April 1988 issue of JAPCA, discussed theory and sizing; this part presents costing. Information is given for estimating total capital investment including separate costs for the bare ESP (five types) and auxiliaries. Factors are given for installation and for indirect costs. Direct and indirect annual costs are discussed. An example problem is given.     

The effects of cadmium and zinc interactions on the accumulation and tissue distribution of zinc and cadmium in lettuce and spinach

The interactions between Zn and Cd on the concentration and tissue distribution of these metals in lettuce and spinach were studied at levels corresponding to background and Zn-Cd contaminated sites. Plants were grown in nutrient solutions containing 0.398-8.91 microM Zn and 0.010-0.316 microM Cd. Cadmium accumulated more in old than in young leaves of both crops at any solution Cd level, whereas Zn followed that pattern only at Zn levels > or = 3.16 microM. Increasing solution Cd increased Zn concentrations in young leaves of lettuce but not of spinach, regardless of Zn levels. Cadmium concentrations in young leaves of both crops decreased exponentially with increasing solution Zn at low (0.0316 microM) but not at high (0.316 microM) solution Cd. The Zn: Cd concentration ratios in young leaves of lettuce and spinach grown at 0.316 microM Cd became greater as the solution Zn increased. Cadmium and Zn concentrations in young leaves were related more closely to the relative concentrations of Zn and Cd in solution than were the concentrations in old leaves, especially in lettuce. Studies of Zn-Cd interactions and Cd bioavailability should differentiate between basal and upper leaves of lettuce and spinach. Compared to Cd-only pollution, Zn-Cd combined pollution may not decrease Cd concentrations in lettuce and spinach edible tissues, but because it increases their Zn concentrations it lowers plant Cd bioavailability.     

Time-lapse 3-D seismic imaging of shallow subsurface contaminant flow

This paper presents a physical modelling study outlining a technique whereby buoyant contaminant flow within water-saturated unconsolidated sand was remotely monitored utilizing the time-lapse 3-D (TL3-D) seismic response. The controlled temperature and pressure conditions, along with the high level of acquisition repeatability attainable using sandbox physical models, allow the TL3-D seismic response to pore fluid movement to be distinguished from all other effects. TL3-D seismic techniques are currently being developed to monitor hydrocarbon reserves within producing reservoirs in an endeavour to improve overall recovery. However, in many ways, sandbox models under atmospheric conditions more accurately simulate the shallow subsurface than petroleum reservoirs. For this reason, perhaps the greatest application for analogue sandbox modelling is to improve our understanding of shallow groundwater and environmental flow mechanisms. Two fluid flow simulations were conducted whereby air and kerosene were injected into separate water-saturated unconsolidated sand models. In both experiments, a base 3-D seismic volume was recorded and compared with six later monitor surveys recorded while the injection program was conducted. Normal incidence amplitude and P-wave velocity information were extracted from the TL3-D seismic data to provide visualization of contaminant migration. Reflection amplitudes displayed qualitative areal distribution of fluids when a suitable impedance contrast existed between pore fluids. TL3-D seismic reflection tomography can potentially monitor the change in areal distribution of fluid contaminants over time, indicating flow patterns. However, other research and this current work have not established a quantifiable relationship between either normal reflection amplitudes and attenuation and fluid saturation. Generally, different pore fluids will have unique seismic velocities due to differences in compressibility and density. The predictable relationships that exist between P-wave velocity and fluid saturation can allow a quantitative assessment of contaminant migration.