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Improvement of power generation facility investment systems for achieving resource adequacy in electric power industry

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Frame of Image roblem 1: An underestimation of long-term electricity demand due to optimistic projections on electricity price results in insufficient investment in power generation facilities. ○ Problem 2: Uncoordinated investment plans in power generation facilities and transmission networks can exacerbate regional disproportion of power facility distribution and can cause inefficiency and instability in transmission networks. ○ Problem 3: Leaving the assessment of uncertainty factors up to the small group who lead the planning may distort future power generation mix. ○ Problem 4: A considerable number of the planned investment projects remain unexecuted due to the absence of effective means to enforce or induce implementation of investment plans  This paper attempts to propose deregulation of power generation market entry and introduction of a capacity obligation scheme as measures to deal with Problems 3 and 4. * This is the translated version of KDI Policy Forum released on April 14, 2014. ** This article is based on “Korean Systems for Achieving Resource Adequacy in Electric Power Industry” by Suil Lee, a research monograph published by the Korea Development Institute in 2013. KDI Policy Forum 2 ○ The efforts to handle Problems 1 and 2 is not addressed in this paper, as there were efforts to resolve these concerns in the Sixth Basic Plan on Electricity Demand and Supply in 2012. ○ Uncertainty factors affecting the economic feasibility and environmental performance of power generation


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Title Improvement of power generation facility investment systems for achieving resource adequacy in electric power industry
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Material Type Report
Author(English)

Lee, Suil

Publisher

[Sejong] : Korea Development Institute
Date 2015-01
Journal Title; Vol./Issue KDI Policy Forum:Vol. 260
Pages 13
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Science/Technology
Holding KDI; KDI School
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