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Electricity pricing policy alternatives to control rapid electrification in Korea

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  • Electricity pricing policy alternatives to control rapid electrification in Korea
  • Kim, Changseob; Shin, Jungwoo
  • The Korean Institute of Electrical Engineers


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Title Electricity pricing policy alternatives to control rapid electrification in Korea
Similar Titles
Material Type Articles
Author(English)

Kim, Changseob; Shin, Jungwoo

Publisher

[Seoul]:The Korean Institute of Electrical Engineers

Date 2016-02
Journal Title; Vol./Issue Journal of Electrical Engineering and Technology:Vol. 11(No. 2)
Pages 15
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Industry and Technology < Energy
Holding The Korean Institute of Electrical Engineers

Abstract

Although South Korea experienced a rolling blackout in 2011, the possibility of a blackout in South Korea continues to increase due to rapid electrification. This study examines the problems of energy taxation and price distortions as possible reasons for the rapid electrification in South Korea, which is occurring at a faster rate than in Japan, Europe, and other developed countries. Further, we suggest new energy taxation and price systems designed to normalize electricity prices. In order to do so, we consider two possible scenarios: the first imposes a tax on bituminous coal for electricity generation and the second levies a tax to provide compensation for the potential damages from a nuclear accident. Based on these scenarios, we analyze the effects of a new energy system on electricity price and demand. (The rest omitted)