Electricity pricing in Korea: A study of pricing initiatives as positive contributors to the development process
The economic miracle'' in South Korea over the past three decades has been supported by a corresponding increase in electric generating capacity in a relatively short period of time, accomplished in a country with limited domestic energy resources and large commitments of capital to exported-oriented industries. Generating capacity increased nearly 12-fold in a 12-year period during the formative stages of Korea's development from 1962 to 1973 and more than 50-fold from 1962 to the present time. For capital- and energy-short developing countries, the Korean experience is a good example of the contribution of pricing-related initiatives to development of the power sector. Besides setting prices at a level sufficient to provide resources for the power sector, a number of initiatives designed to reduce the cost of electricity supply were implemented. These pricing-related initiatives were a significant source of resources for the power sector during the 1962--73 period. More recently, implementation of time-of-day pricing and enactment of legislation aimed at improving the performance of public enterprises significantly contributed to the efficiency of the power system.
- Research Organization:
- Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)
- Sponsoring Organization:
- USAID
- DOE Contract Number:
- AC05-84OR21400
- OSTI ID:
- 6155547
- Report Number(s):
- ORNL-6633; ON: DE91005627
- Country of Publication:
- United States
- Language:
- English
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