In the paper, a procedure for Property Risk Assessment is presented and discussed. The procedure is applied to some combined cycle power plants and the most common sources of loss are identified. The impact on operational costs is evaluated through the determination of two indices of risk. First, their dependence on combined cycle configuration and electric power output is established. Second, a sample analysis for risk/benefit evaluation is carried out to estimate whether the adoption of risk assessment procedures allows an actual profit for plant owners. Finally, customer feedback is also discussed.

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