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Korea Electricity Security Review
…electricity in total final energy consumption is projected to increase from around 20% today to more than 30% by 2040. Objectives for greater deployment of hydrogen in energy systems will also rely on additional electricity demand.These developments require policy makers to think about electricity security, which is the power system’s capability to ensure uninterrupted availability of electricity by withstanding and recovering from disturbances. The IEA looks at electricity security from three angles: adequacy, operational security and resilience. These three building blocks underpin each section of this report. Jointly written by the IEA and the Korean Energy Economics Institute …
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A 10-Point Plan to Reduce the European Union’s Reliance on Russian Natural Gas
…policy makers and consumers can do to lower them. This IEA analysis proposes a series of immediate actions that could be taken to reduce reliance on Russian gas, while enhancing the near-term resilience of the EU gas network and minimising the hardships for vulnerable consumers.A suite of measures in our 10-Point Plan, spanning gas supplies, the electricity system and end-use sectors, could result in the EU’s annual call on Russian gas imports falling by more than 50 bcm within one year – a reduction of over one-third. These figures take into account the need for additional…
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Korea Climate Resilience Policy Indicator
…the long term, and Korea is also projected to experience higher annual rainfall with more extreme precipitation events. Heavy rainfall and tropical cyclones could threaten energy supply reliability, particularly in the summer.While Korea has made progress incorporating energy system climate resilience into its climate change adaptation plans, energy sector plans do not address it sufficiently. Recognising and capitalising on the co-benefits of adaptation and mitigation actions in national energy plans will help create synergies in policy implementation. Climate hazard assessment TemperatureKorea’s average annual temperature has been trending upwards with the rate of increase accelerating. The change rate…
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2022 Energy Crisis: Frequently Asked Questions
Current situation Have Russian oil and gas exports continued to flow since the start of its invasion of Ukraine?Russian oil exports have so far proved resilient to sanctions, import embargoes and buyer boycotts. In October, total oil exports were 7.7 mb/d, only 400 kb/d lower than pre-war levels. Russian crude oil exports in October were largely unchanged compared with pre-war levels, at 4.97 mb/d. Crude oil exports to the EU member states have been reduced by 1 mb/d to 1.5 mb/d. The decline in shipments to the EU has been…
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Korea Electricity Security Policy
…is an isolated system with no cross-border transmission lines; therefore, electricity demand is met entirely through local production. Korea has an electricity emergency response manual outlining response procedures in the event of an electricity supply emergency. There are four levels of electricity supply emergency: concern, alert, caution and serious. Depending on the level of emergency, demand restraint measures, load-shedding and the use of black-start generators can be ordered. Infrastructure Network: transmission and distribution Korea Power Exchange (KPX), which operates under the umbrella of the Ministry of Trade, Industry and Energy (MOTIE), is the sole transmission system operator (TSO…
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Reforming Korea's Electricity Market for Net Zero
…s Ministry of Trade, Industry and Energy and carried out jointly by the International Energy Agency (IEA) and the Korea Energy Economics Institute. The objective of the study was to analyse market design improvements to enable achieving net zero in Korea's power sector, in accordance with the country's long-term decarbonisation objectives.For this the IEA devised a Korea Regional Power System Model to evaluate the emissions implications of the plans laid out in Korea’s 9th Basic Plan for Long-Term Electricity Supply and Demand and the Carbon Neutral Strategy published in 2021. The analysis includes a…
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Korea 2020
… in 2018, emissions were 709 Mt CO2-eq.Reaching these ambitious targets will require Korea to substantially enhance decarbonisation efforts across all energy sectors, address regulatory and institutional barriers, introduce flexible market designs, and make use of the country’s advanced technologies and innovative capacity. The government’s announcement of a Green New Deal in July 2020 as part of its post Covid‑19 recovery package is a significant step towards accelerating Korea’s energy transition. Korea’s energy transition and the Green New Deal In its 3rd Energy Master Plan (EMP), the government has confirmed its intention to gradually phase-out nuclear…
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Korea 2025
…was prepared in partnership between the Government of Korea and the IEA. It draws on the IEA’s extensive knowledge and the inputs of expert peers from IEA Member countries to assess Korea’s most pressing energy sector challenges and provide recommendations on how to address them, backed by international best practices. The report also highlights areas where Korea’s leadership can serve as an example in promoting secure and clean energy transitions. It also promotes the exchange of best practices among countries to foster learning, build consensus and strengthen political will for a sustainable and affordable energy future. Translation
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Energy Policies Beyond IEA Countries: Russia 2014
Russia’s energy sector plays an essential role for the Russian economy, its energy security and global hydrocarbon supplies. Russia holds among the world’s largest resources of gas, oil and coal. Its liquids production has reached historical highs, yet major additional upstream investments and technology upgrades will be needed to sustain these levels in the long term. Its gas production is also at high levels, with Gazprom being the dominant producer, and with other companies now taking significant roles. Since the last IEA review of Russia’s energy policies in 2002, the power sector has also liberalised considerably. The…
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Development of Energy Efficiency Indicators in Russia
Development of Energy Efficiency Indicators in Russia The key findings of the IEA work with the Russian Federation on developing energy efficiency indicators form the core of this report. Russia is sometimes referred to as “the Saudi Arabia of energy efficiency”; its vast potential to reduce energy consumption can be considered a significant energy reserve. Russia, recognising the benefits of more efficient use of energy, is taking measures to exploit this potential. The president has set the goal to reduce energy intensity by 40% between 2007 and 2020. In the past few years, the IEA has worked closely with Russian…