The World Corrosion Organisation (WCO) places the worldwide annual cost of corrosion at US$1.8 trillion per annum, some 3% of the world’s GDP1 . The estimated cost of corrosion in the United States electrical power industry in 1998 was US$15.4 billion2 , representing about 7.9% of the cost of electricity to their consumers. About 20% or US$3 billion of the corrosion costs were considered avoidable. Whilst the issue of corrosion is generally understood within New Zealand industry it is often disregarded or acknowledged to be an inherent problem with metals generally. If the avoidable cost of corrosion is established throughout the electricity industry it would help the participants to better manage their assets and benefit from longer term cost savings.
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