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Study on Long-Term Generation Expansion Planning upon the LNG Price Fluctuations

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DOI: 10.4236/epe.2013.54B197    2,266 Downloads   2,969 Views  

ABSTRACT

About 37% of South Koreas greenhouse gas emission is from electricity generation. Most of the countrys electric power is fundamentally generated by nuclear, thermal and LNG facilities. And LNG, of them, is characterized to require high cost for power generation but CO2 coefficient is lower than thermal generation. Amid the ongoing global efforts to tackle global warming, shale gas introduction and changing global environment, LNG prices are expected to fluctuate. Against this backdrop, this paper seeks to perform scenario tests on LNG fuel cost fluctuation and examine its long-term effects on generation expansion planning.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

M. Kim, S. Hwang, S. Han and B. H. Kim, "Study on Long-Term Generation Expansion Planning upon the LNG Price Fluctuations," Energy and Power Engineering, Vol. 5 No. 4B, 2013, pp. 1032-1036. doi: 10.4236/epe.2013.54B197.

References

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[2] K. J. Kim, “Shale Gas Developments and ramifications,” The 29th Energy forum, The National Academy of Engineering of Korea, 2012.
[3] Y. C. Kim, “Multi-Criteria Generation Expansion Planning with Global Environmental Considerations,” Korea advanced institute of science and technology, 1993.
[4] Y. C. Kim, “Principle of the Generation Expansion Planning,” Korea Energy Economics Institute M&B, 2006.
[5] E. R. Peterson, “A dynamic Programming model for the expansion of electric power systems,” Management Science, Vol. 20, No. 4, 1973, pp. 656-644. doi:10.1287/mnsc.20.4.656
[6] J. W. Ann, “A Study on Power Expansion Planning Model Considering the Emission Trading,” The Transactions of the Korean Institute of Electrical Engineers, Vol. 61, No. 7, 2012, pp. 957-965. doi:10.5370/KIEE.2012.61.7.957
[7] KPX, “The 5th Korea national Long-term Electricity Plan”.
[8] EPSIS Homepage, http://www.kpx.or.kr/epsis/.

  
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