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)
  • 정수관 (부산대학교 경제학부) ;
  • 임나라 (부산대학교 경제학부 대학원) ;
  • 원두환 (부산대학교 경제학부)
  • 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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