Recommendations and Guidance for Economic Analysis in Subbasin Planning
January 2003 | document IEAB 2003-2
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Summary
Subbasin planning may need to consider two types of economic issues; 1)
economic impacts, and 2) cost-effectiveness. This paper provides general
guidance to help planners identify when economic analysis is required,
what level of detail is appropriate, and how to conduct both types of
analysis and present results.
As a practical matter, economic impact analysis may be required to
address concerns of stakeholders that will be identified during the public
involvement process. Subbasin strategies and projects should be designed
to minimize or avoid adverse impacts. Unavoidable negative impacts may be
addressed by direct payments or other program elements that compensate
those adversely affected, while beneficial impacts may provide a basis for
sharing program costs with those enjoying the benefits.
Cost-effectiveness analysis is required by the Pacific Northwest
Electric Power Planning and Conservation Act (the Regional Act). Planners
should consider cost-effectiveness for local strategies or projects that
are alternative means to the same biological objective. Also, planners
should provide information on the physical or biological benefits, and the
economic costs, of all strategies or projects. This information is needed
for cost-effectiveness analysis at the regional level.
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