Abstract
Factors affecting the change in the amount of renewable power generation of KEPCO's power generation subsidiaries were empirically analyzed. For empirical analysis, a general power generation fuel demand model was established, and panel regression analysis was attempted using data from power generation subsidiaries for the period 2011-20. The empirical analysis results are summarized as follows. First, it is estimated that when the relative price of new and renewable power is high, the amount of renewable power is estimated to decrease. Second, renewable power generation has a substitute relationship with bituminous coal power generation and a complementary relationship with LNG power generation. have. Third, the RPS system directly and significantly played a leading role in increasing the amount of renewable power generation of power generation subsidiaries. Fourth, the emission trading system does not appear to have a significant effect on the increase in the amount of renewable power generation of power generation subsidiaries, which is why the emission trading system is not effective for renewable power generation. Fifth, the volatility of renewable power generation had a negative effect on the amount of renewable power generation as the supply of new and renewable power generation facilities increased. It can be inferred that as the amount of renewable power increases, the volatility of power generation increases, putting a burden on power generation subsidiaries.
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