United States Department of Transportation
i
Least-cost transportation planning in ODOT : feasibility report.
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1995-03-01
[PDF-4.47 MB]
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Abstract:Least-Cost Planning or Integrated Resource Planning is used in the electric utility industry to broaden the scope of choices to meet service requirements. This typically includes methods to reduce to demands for electricity as well the more traditional electric generation options. Techniques have been developed to compare the cost of electricity generation with the cost of meeting service requirements by reducing electrical usage. In addition to cost considerations, utilities typically take account of uncertainty associated with forecasts and a variety of other consideration in specifying their least-cost plan.
The basic economic rationale, that users pay a price less than the cost of providing additional service, is the same between the utilities and transportation. However, there are also fundamental differences. Consumers are more concerned about the nature of the service for transportation, the use of the transportation system is affected by the quality service provided, transportation modes have system or network relations that make it harder to treat sections in isolation, and transportation funding levels determine the amount of service to be provided. Hence, although least-cost principles hold promise to improve transportation planning, the techniques used in the utility industry can not be directly transferred to transportation.
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