Energy Risk Identification
From Open Risk Manual
Definition
Energy Risk Identification a component of a formal Energy Risk Framework process that applies a systematic analytical approach to the task of identifying and enumerating the various energy risks that an organization is facing.
Approach
Identification focuses first on recognizing different forms of energy risk.
- underlying causes (risk factors) that are driving the realization of energy risk events, individually or in some interacting sense. Identifying common causes is essential for further steps of Energy Risk Management
- identifying the impact of underlying causes
Tools and Methods
- Energy Audit findings
- Internal loss data collection and analysis from past energy risk episodes
- External data collection and analysis of energy crises and related events
- Risk and control self-assessments
- Business process mapping and identification of Energy Consumption
- Risk and performance indicators such as Energy Use Intensity
- Scenario analysis in the context of the Energy Transition and Energy Intensity Pathways
- Comparative analysis
- External benchmarking
See Also
References
