South Korea Power Report

Published 16 June 2015

  • 60 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: The outlook for South Korea's renewables industry remains muted, despite the recent announcement of the government's clean energy investment plan. The country's challenging regulatory environment for renewables and the availability of cheaper sources of power, notably nuclear and coal, will undermine investment into the sector.

We forecast overall power generation to grow at an average of 3.8% a year between 2015 and 2024, reaching 791.3 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.

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 2019-2024)
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 2013-2018)
11
Table: Total Electricity Generation Data And Forecasts (South Korea 2019-2024)
13
Table: Electricity Generating Capacity Data And Forecasts (South Korea 2013-2018)
14
Table: Electricity Generating Capacity Data And Forecasts (South Korea 2019-2024)
15
Cooler LNG Market Ahead
18
Electricity Consumption
22
Table: Total Electricity Consumption Data And Forecasts (South Korea 2013-2018)
22
Table: Total Electricity Consumption Data And Forecasts (South Korea 2019-2024)
22
Transmission And Distribution, Imports And Exports
24
Table: Electric Power T&D Losses Data And Forecasts (South Korea 2013-2018)
24
Table: Electric Power T&D Losses Data And Forecasts (South Korea 2019-2024)
25
Industry Risk/Reward Index
26
Asia Power Risk/Reward Index
26
South Korea Power Risk/Reward Index
30
Rewards
30
Risks
30
Market Overview
32
Key Policies And Market Structure
32
Regulation And Competition
32
Sustainable Energy Policies
32
Pricing
34
Carbon Trading
34
Table: Emissions Reduction Targets By Industry
35
Table: Top Emitters Of Carbon Dioxide In 2012 By Country
35
South Korea Power Projects Database
36
Table: Key Power Projects
36
Competitive Landscape
40
Company Profile
42
Korea Electric Power Corporation (Kepco)
42
Regional Overview
46
Asia Regional Overview
46
Glossary
53
Table: Glossary Of Terms
53
Methodology
54
Industry Forecast Methodology
54
Sources
57
Risk/Reward Index Methodology
57
Table: Power Risk/Reward Index Indicators
58
Table: Weighting Of Indicators
59

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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