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Efficiency and productivity impacts of restructuring the Korean electricity generation
Department of Economics, Sogang University, Sinsoo-dong #1, Mapo-gu, Seoul, Korea.ORCID iD: 0000-0002-7902-4683
2013 (English)In: Korea and the World Economy, Vol. 14, no 1, 57-89 p.Article in journal (Refereed) Published
Abstract [en]

This paper investigates the performance of various generation plants in the Korean electricity market. The objective is to compare performance before and after the 2001 separation by using data from 1995 to 2006. The efficiency and productivity of the generation units is estimated by using a stochastic frontier model as well as data envelopment analysis and Malmquist productivity index. The result suggests that generation is mainly affected by facility type, maintenance cost, real fuel cost, and other costs. The national generation plan is characterized by high efficiency of nuclear plants, base type facilities, and large size facilities. It is also found that efficiency enhancement from the separation effect is not clearly discernible when comparing periods before and after the separation. Suggestions are made for the better utilization of economies of scale to further raise the efficiency of generation companies and the electricity industry through enhancement of fuel purchasing power and reallocation of labour.

Place, publisher, year, edition, pages
2013. Vol. 14, no 1, 57-89 p.
Keyword [en]
efficiency and productivity analysis, electricity market, power generation, power plants performance, restructuring effect, Korea
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-24639OAI: oai:DiVA.org:hj-24639DiVA: diva2:743505
Available from: 2014-09-04 Created: 2014-09-04 Last updated: 2016-01-14Bibliographically approved

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  • apa
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