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The Value of Water: What It Means, Why It's Important, and How Water Utility Managers Can Use It
Author(s) -
Raucher Bob
Publication year - 2005
Publication title -
journal ‐ american water works association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.466
H-Index - 74
eISSN - 1551-8833
pISSN - 0003-150X
DOI - 10.1002/j.1551-8833.2005.tb10867.x
Subject(s) - value (mathematics) , water utility , order (exchange) , context (archaeology) , use value , business , commodity , politics , public value , marketing , public relations , water supply , computer science , finance , political science , law , paleontology , environmental engineering , engineering , biology , machine learning
Many utilities face difficulties in raising rates to accommodate the costs associated with infrastructure renewal, enhanced security precautions, and other necessities. Contributing to this issue is a general under‐appreciation of the value a utility provides to its community. At the core of this problem is the value of water. This value, the commodity itself and the service provided, must be communicated to customers and factored into utility decisions. But in order to do so, we must first understand the term. This article clearly defines what value means in quantitative and qualitative terms, factoring in ethical and moral considerations, as well, and provides information on how large some estimated values are. In the context of public discussion and decision making, values must reflect what is important to appointed and elected officials, customers, stakeholders, and the public. This article offers managers suggestions for how to tap values when making decisions and seeking customer and/or political support.