- Volume 24 Issue 4
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The Impact of Nuclear Power Generation on Wholesale Electricity Market Price
원자력발전이 전력가격에 미치는 영향 분석
- Jung, Sukwan (Pusan National University, Department of Economics) ;
- Lim, Nara (Pusan National University, Department of Economics) ;
- Won, DooHwan (Pusan National University, Department of Economics)
- Received : 2015.05.25
- Accepted : 2015.12.18
- Published : 2015.12.31
Nuclear power generation is a major power source which accounts for more than 30% of domestic electricity generation. Electricity market needs to secure stability of base load. This study aimed at analyzing relationships between nuclear power generation and wholesale electricity price (SMP: System Marginal Price) in Korea. For this we conducted ARDL(Autoregressive Distributed Lag) approach and Granger causality test. We found that in terms of total effects nuclear power supply had a positive relationship with SMP while nuclear capacity had a negative relationship with SMP. There is a unidirectional Granger causality from nuclear power supply to SMP while the reverse was not. Nuclear power is closely related to SMP and provides useful information for decision making.
Supported by : Pusan National University
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