Insight
Politics and Power: electricity reform a key issue in South Korea's presidential election
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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.
Table of contents
- Politics: No shortage of headaches for Park’s successor
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Pollution: Improving air quality is a key election issue
- New president likely to shake-up energy policy
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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
Tables and charts
This report includes the following images and tables:
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South Korea GDP and electricity consumption growth (historical)South Korea electricity consumption growth (Wood Mackenzie vs Government forecast)South Korea's installed power capacity
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South Korea reserve marginPolitics and Power: electricity reform a key issue in South Korea's presidential election: Image 2South Korea's LNG importsSouth Korea's coal importsForecast of gas-fired power plants load factorsSouth Korea LNG into power forecast
What's included
This report contains:
