Abstract
Assuming a discount rate of 4.5% and a utilization rate of 80%, the levelized cost of electricity (LCOE) of a coal power plant was found to be 144.52 KRW/kWh. Among the calculated LCOE components, the factors accounting for the largest proportion were the fuel cost of 51.37 KRW/kWh (35.5%), the carbon emission cost of 45.83 KRW/kWh (31.7%), and the construction cost of 22.1 KRW/kWh (15.3%). As the international coal price rises, the unit cost of fuel is also showing an increasing trend. Recently, the initial investment cost of private coal power plants has increased, and environmental costs (external costs) due to conflicts with local residents are also increasing. Analysis of the sensitivity of the estimated LCOE to a discount rate and a utilization rate found that change in the utilization rate has the greatest effect on the LCOE of coal power plants.
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