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Integrated National Energy Planning: A Case Study of the Republic of Korea

Byong-hun Ahn, Hvung-wook Kim, Dale M. Neshitt, and Robert L. Phillips

Year: 1986
Volume: Volume 7
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No2-2
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Abstract:
Like other oil-importing countries, the Republic of Korea was surprised by the rapid oil price escalation of the 1970s. Following the lead of the United States, Europe, and Japan, Korea's energy policy in the mid-1970s was based on reducing oil imports by substituting other fuels, installing more efficient oil conversion processes, or doing without. Due in part to the urgency of the situation and in part to a lack of accumulated analytical capability, it was difficult to analyze in depth which alternatives were best, how much they would cost, or to what extent it was in Korea's best interests to bear large economic costs to reduce oil imports. Rather, Korean policymakers implemented a broad-based oil consumption reduction program to mitigate their immediate oil import problem.



On the Economics of Cogeneration: Pricing and Efficiency in Government Owned Utilities

Jae-Cheol Kim and Byong-Hun Ahn

Year: 1990
Volume: Volume 11
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol11-No1-8
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Abstract:
Cogeneration has been gaining increasing importance in the pro-vision of electric power. When a utility purchases electricity produced by independent cogenerators and resells it to consumers, the question of whether or not a certain payment schedule of purchased power is "just and reasonable" becomes an immediate concern to each party concerned--the utility, cogenerators and possibly regulatory agencies.The U.S. regulatory agencies generally have endorsed avoided cost pricing since the passage of the Public Utility Regulatory Policies Act (PURPA) in 1978, the rule requiring that the utility pay avoided costs--the difference between total costs incurred by the utility before and after cogenerators' production. In Korea, on the other hand, a different rule has been implemented in pricing hydroelectric power purchased by the Korea Electric Power Corporation (KEPCO), Korea's only electric utility company from Korea Water Resources Corporation, a multi-reservoir dam corporation. The latter is currently paid based on actual costs incurred by its individual hydroelectric plants.



Power Balance and Equilibrium Channel Structure in the Korean Gasoline Market

Byong-Hun Ahn and Heon Jung

Year: 1994
Volume: Volume15
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No1-10
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Abstract:
This study analyzes how power balance in a vertical channel affects equilibrium channel structure and channel members' profits in an oligopolistic gasoline market. Using a game theoretic analysis, we study an equilibrium channel structure under different power balance scenarios. We show that refiners cannot increase their profits by strategic disintegration when their intermediaries retain more power than they do. We also investigate power balance issues in three-level, unintegrated channels. Finally, we apply our results to the gasoline market in Korea, and discuss policy implications.





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