| Title |
A Study on the Causality between Electric Reserve Margin, Electricity Tariff, Renewable Energy, Economic Growth, and Concurrent Peak in Winter and Summer: OECD Panel Analysis |
| Authors |
이중호(Jung-Ho Lee) ; 박경민(Kyung-Min Park) ; 박중구(Jung-Gu Park) |
| DOI |
http://doi.org/10.5370/KIEE.2018.67.11.1415 |
| Keywords |
Electric reserve margin ; Panel analysis ; Peak to peak ratio ; Renewable energy ; Electricity tariff ; Economic growth |
| Abstract |
In Korea, prior to 2011, the electric reserve margin followed the probabilistic reliability view and the planning reserve margin had been operated at about 15% based on the assumption that power outage was permitted within 0.5 days a year. However, after experiencing the shortage of the electric generation capacity in Sept. 15, 2011, the planning reserve margin was selected as 22% to improve the reliability of the electric supply. In this paper, using panel data of 28 OECD countries over the period 2000?2014 we attempted to empirically examine the linkage between reserve margin, electricity tariffs, renewable energy share, GDP per capita, and summer/winter peak-to-peak ratios. As a result, all four independent variables have been significant for the electric reserve margin, and in particular, we found that countries with similar peaks in winter and summer have operated 4.3% higher reserve margin than countries experiencing only summer peak. |