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ID: 191358

Economic value of the development of nuclear power plant decommissioning technology in South Korea / Lee, Juyong

Lee, Juyong	Journal Article
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Summary/Abstract

The nuclear power plants (NPPs) worldwide operating for more than 30 years have reached over 50% of the total and have entered the deterioration stage in earnest. Thus, the requirement and demand for NPP decommissioning technology are expected to continue to increase in the future. The primary purpose of this research is to estimate the national willingness to pay (WTP) for the development of NPP decommissioning technology. To this end, we used the contingent valuation method with survey data from 1,028 Korean respondents. It was found that 812 out of 1,028 respondents were willing to pay for the development of NPP decommissioning technology. The mean WTP was estimated at KRW 14173.86 (USD 10.87), and it was also found that respondents with a higher level of knowledge of NPP decommissioning had higher WTPs. The analysis shows that additional policies and projects to boost public acceptance of NPP decommissioning must be preempted to achieve a suitable level of social consensus to promote the development of NPP decommissioning technology in Korea.

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ID: 169834

Estimation of the usage fee for peer-to-peer electricity trading platform: the case of South Korea / Lee, Juyong; Cho, Youngsang

Cho, Youngsang	Journal Article
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Summary/Abstract

The peer-to-peer (P2P) electricity trading platform (ETP) is an electricity-sharing system by which individuals can sell surplus electricity or purchase electricity to meet a deficit in a regional power network. South Korea has allowed energy prosumers to engage in electricity trading from 2016 and is seeking ways to vitalize the electricity trading market. This study aims to estimate the willingness to pay (WTP) of respondents for the monthly usage of P2P ETP by using the contingent valuation method. Of the 1000 Korean respondents, 639 were willing to pay a fee for using the platform. The estimated WTP is KRW 5958.86 (USD 5.50) per month. Moreover, the estimated WTP is higher in respondents who have more background knowledge of the P2P ETP and who pay higher electricity fees. The estimated WTP is lower than the usage fees of existing ETPs in other countries, which is primarily due to Korea's low electricity prices. Furthermore, the estimation results show that enhancing consumer awareness of P2P trading and introducing market strategies based on electricity usage should be considered by electricity trading companies and regulators to enhance P2P ETP usage.

Key Words

Contingent Valuation Method ; Willingness-to-Pay ; P2P Electricity Trading Platform ; Energy Prosumer ; Spike Model

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