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Politics and Power: electricity reform a key issue in South Korea's presidential election


Politics and Power: electricity reform a key issue in South Korea's presidential election

Report summary

Key takeaways

Regardless of results, South Korea's election on 9 May will see a new government focused on reforming the electricity sector.

Presidential favourite Moon Jae-in's reform agenda includes more support for renewables, closing of coal plants, shutting nuclear facilities, and even importing Russian piped gas through North Korea.

LNG could be a big winner as an interim measure to reduce pollution and address nuclear safety concerns.


What's included?

This report includes 1 file(s)

  • Politics and power - electricity reforms in South Korea.pdf PDF - 299.21 KB

Description

This LNG Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

If you want to look at the trends, risks and implications of this topic, this report gives you an alternative point of view to help inform your decision making.

Offering bottom-up market analysis for over 150 LNG supply assets, 28 LNG-importing countries and more than 500 LNG contracts, Wood Mackenzie is the definitive and trusted resource for the LNG industry.

We use our robust database and expert industry knowledge to help you understand the dynamics of the global LNG industry and identify emerging trends and opportunities.

  • Politics: No shortage of headaches for Park’s successor
  • Pollution: Improving air quality is a key election issue
    • New president likely to shake-up energy policy
  • Power: Overcapacity due to bullish demand outlook
    • Spare generation capacity is threatening gas consumption
    • Presidential candidates aim for less coal and nuclear
    • Policies could improve LNG prospects but hit nuclear industry
    • Policies would result in higher retail electricity prices
    • Reaching 20% renewable target will be challenging
  • Conclusion

In this report there are 10 tables or charts, including:

  • Politics: No shortage of headaches for Park’s successor
  • Pollution: Improving air quality is a key election issue
    • Politics and Power: electricity reform a key issue in South Korea's presidential election: Image 2
  • Power: Overcapacity due to bullish demand outlook
    • South Korea GDP and electricity consumption growth (historical)
    • South Korea electricity consumption growth (Wood Mackenzie vs Government forecast)
    • South Korea's installed power capacity
    • South Korea reserve margin
    • South Korea's LNG imports
    • South Korea's coal imports
    • Forecast of gas-fired power plants load factors
    • South Korea LNG into power forecast
  • Conclusion
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