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Accommodating energy price volatility in life cycle cost analysis of asphalt pavements
Swedish National Road and Transport Research Institute, Infrastructure, Infrastructure maintenance.
Aston University.
2015 (English)In: Journal of Civil Engineering and Management, ISSN 1392-3730, E-ISSN 1822-3605, 1-8 p.Article in journal (Refereed) Published
Resource type
Text
Abstract [en]

Energy price is related to more than half of the total life cycle cost of asphalt pavements. Furthermore, the fluctuation related to price of energy has been much higher than the general inflation and interest rate. This makes the energy price inflation an important variable that should be addressed when performing life cycle cost (LCC) studies regarding asphalt pavements.

The present value of future costs is highly sensitive to the selected discount rate. Therefore, the choice of the discount rate is the most critical element in LCC analysis during the life time of a project. The objective of the paper is to present a discount rate for asphalt pavement projects as a function of interest rate, general inflation and energy price inflation. The discount rate is defined based on the portion of the energy related costs during the life time of the pavement. Consequently, it can reflect the financial risks related to the energy price in asphalt pavement projects. It is suggested that a discount rate sensitivity analysis for asphalt pavements in Sweden should range between –20 and 30%.

Place, publisher, year, edition, pages
2015. 1-8 p.
Keyword [en]
Flexibility pavement, Cost, Energy, Life cycle assessment, Calculation
National Category
Applied Psychology
Research subject
00 Road: General works, surveys, comprehensive works, 02 Road: Economics
Identifiers
URN: urn:nbn:se:vti:diva-9262DOI: 10.3846/13923730.2014.945951ScopusID: 2-s2.0-84950161811OAI: oai:DiVA.org:vti-9262DiVA: diva2:910016
Available from: 2016-03-08 Created: 2016-03-02 Last updated: 2016-08-23Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf