One of the most important problems in the operation of electronic equipment in the residential blocks is the overvoltages. Direct damages of overvoltages lead to a loss of value (technical cost), whereas indirect damages result in the loss of opportunity (social cost). The assessment of these costs is of particular importance especially to countries, which are hampered by the current financial and economic crisis. In this context, the aim of the paper is the investigation of the socioeconomic effects caused by equipment-damaging overvoltages and the assessment of the total avoided cost, namely the technical and social cost, to existing residential blocks in Greece. Based on the results, these costs are significant and measures to reduce or avoid them are important for improving citizens’ well-being, especially under the current economic and financial crisis which hampers their income.
Keywords: social and technical cost, overvoltages, assessment model, electronic equipment, residential blocks, financial crisis, Greece