South Korea Power Report

Published 27 March 2015

  • 56 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
South Korea Power Report

BMI View : O ur medium-term outlook for South Korea's electricity sector remains positive, with fundamental factors such as stable economic, positive demographic growth and supportive public policy all providing power companies with opportunities, although growing concerns about pollution and safety will weigh on profitability. I n the short-term the need to minimise electricity shortfalls will prevail, which should s ee the government take a more proactive stance on expansion of generation capacity.

We forecast overall power generation to grow at an average of 4.2% a year between 2015 and 2024, reaching 815.0 terawatt hours (TWh) by the end of the period. While coal- and gas-fired generation will continue to play a vital role, we expect nuclear generation to have the fastest growth rates. That said, we believe high growth rates will feature more greatly in the second half of our 10-year forecast period, given the current high level of public distrust of nuclear power.

The South Korean market for liquefied natural gas (LNG) will cool in the near-term, as high prices and company obligations to cut expenditure will see Kogas and utilities trim LNG purchases and rely on nuclear whenever possible. In the longer term, new gas power plants and the country's quest to increase power supply to the market will mean LNG demand rises, although we have also moderated our forecasts to show slower demand growth.

Table of Contents

BMI Industry View
7
SWOT
8
Industry Forecast
10
South Korea Snapshot
10
Table: Country Snapshot: Economic and Demographic Data (South Korea 2013-2018)
10
Table: Country Snapshot: Economic and Demographic Data (South Korea 2018-2023)
10
Table: Country Snapshot: Power Sector
10
South Korea Power Forecast Scenario
11
Electricity Generation And Power Generating Capacity
11
Table: Total Electricity Generation Data And Forecasts (South Korea 2012-2017)
11
Table: Total Electricity Generation Data And Forecasts (South Korea 2018-2023)
13
Table: Electricity Generating Capacity Data And Forecasts (South Korea 2012-2017)
14
Table: Electricity Generating Capacity Data And Forecasts (South Korea 2018-2023)
15
Electricity Consumption
21
Table: Total Electricity Consumption Data And Forecasts (South Korea 2012-2017)
21
Table: Total Electricity Consumption Data And Forecasts (South Korea 2018-2023)
21
Transmission And Distribution, Imports And Exports
23
Table: Electric Power T&D Losses Data And Forecasts (South Korea 2012-2017)
23
Table: Electric Power T&D Losses Data And Forecasts (South Korea 2018-2023)
23
Table: Trade Data And Forecasts (South Korea 2012-2017)
23
Table: Trade Data And Forecasts (South Korea 2018-2023)
24
Industry Risk/Reward Ratings
25
Asia Pacific Power Power Risk/Reward Ratings
25
Table: Asia Power Risk/Reward Ratings
30
South Korea Power Risk/Reward Ratings
31
Rewards
31
Risks
31
Market Overview
33
Key Policies And Market Structure
33
Regulation And Competition
33
Sustainable Energy Policies
34
Pricing
35
Carbon Trading
36
Table: Fact Box: Emissions Reduction Targets By Industry
37
Table: Fact Box: Top Emitters Of Carbon Dioxide In 2012 By Country
38
South Korea Power Projects Database
38
Table: Key Power Projects
38
Competitive Landscape
44
Company Profile
47
Korea Electric Power Corporation (Kepco)
47
Regional Overview
51
Asia Pacific Power Regional Overview
51
Table: Fact Box: Key Strategies Of Fourth Basic Energy Plan
53
Glossary
56
Table: Glossary Of Terms
56
Methodology
57
Methodology And Sources
57
Industry Forecast Methodology
57
Sources
60
Risk/Reward Ratings Methodology
60
Table: Power Risk/Reward Rating Indicators
61
Table: Weighting Of Indicators
63

The South Korea Power Report features BMI Research's market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.

The South Korea Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.

Key Benefits

  • Use BMI's independent industry forecasts for South Korea to test other views - a key input for successful budgeting and strategic planning in the power market.
  • Target business opportunities and risks South Korea's power sector through our reviews of latest power industry trends, regulatory changes, and major deals, projects and investments in South Korea.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Competitive Landscape analysis.

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts, views and trend analysis, covering power markets, regulatory changes, major investments, projects and company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the power sector and within the broader political, economic and business environment.

BMI’s Power Forecast Scenario

Forecasts to end-2024 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Generation: Electricity generation total, thermal, coal, natural gas, oil, nuclear, hydropower, hydro-electric pumped storage and non-hydropower renewables.
  • Transmission and Distribution Losses: Electric power transmission and distribution losses.
  • Trade: Total imports and exports.
  • Electricity Consumption: Net consumption.
  • Electricity Capacity: Capacity net, conventional thermal, nuclear, hydropower and non-hydroelectric renewables.

BMI’s Power Risk Reward Index

BMI’s Risk Reward Indices provide investors (power companies, service companies and equity investors) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors,

Market Overview

Structure, size and value of the industry sector; overview of the industry landscape and key players; an assessment of the business operating environment, sustainable energy policies, pricing and the latest regulatory developments.

Key Projects Database

Details and analysis of all current and planned developments (new ventures, capacity expansion and other investments) across the sector broken down by location, sector type, capacity, value, companies and operational status.

Competitive Landscape

Illustration of the power industry that exploits our data-rich, in-depth analysis of the leading players in the sector and examination of operational results, strategic goals, market position and the potential for investment.

Power Outlook long-Term Forecasts

Regional long-term power forecasts covering electricity generation, consumption and capacity for thermal, hydroelectric and nuclear power. These are supported by a country specific  overview, alongside an analysis of key downside risks to the main forecasts.

Regional Overview

Providing BMI’s near-term economic outlook for the region as a whole, as well as taking a close look at countries of particular interest and the latest trends and developments.

Sources

The Power Market Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports, including Energy Information Administration (EIA), World Bank (WB) and United Nations (UN).

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc