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Energy Policies of IEA Countries: The United States 2014 Review
…substantial contribution to economic activity and competitiveness. Conversely, the expansion in energy production is also raising unease on environmental and safety grounds, concerns which must be addressed appropriately. The US natural gas boom has resulted in stable wholesale electricity prices, lower greenhouse gas emissions and greater system flexibility. The electricity system, however, is in need of significant investment if the country is to meet demand growth forecasts and strengthen its resilience to climate change. Renewable energy production is growing but the durability of federal tax incentives remains a persistent uncertainty. At the policy level, a number of strategic initiatives have…
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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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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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Covid-19 impact on electricity
Updated through the end of 2020 In light of the extraordinary impact of the Covid-19 pandemic and resulting lockdown measures on the energy system, the IEA is publishing the most up-to-date possible electricity data. This report includes data through the end of 2020. Impact of lockdown measures Electricity demand dropped quickly across Europe and India with confinement measures but steadily recovered as measures were gradually softened. In India, recovery seemed faster and stronger than in EU countries. The end of the year was marked by a recovery of electricity demand, now above 2019 levels after weather adjustment…
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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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Renewables 2020
…transport sectors. Executive summary Renewables’ resilience is driven by the electricity sector In sharp contrast to all other fuels, renewables used for generating electricity will grow by almost 7% in 2020. Global energy demand is set to decline 5% – but long-term contracts, priority access to the grid and continuous installation of new plants are all underpinning strong growth in renewable electricity. This more than compensates for declines in bioenergy for industry and biofuels for transport – mostly the result of lower economic activity. The net result is an overall increase of 1% in renewable energy demand in 2020. Despite looming…
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Energy Policies of IEA Countries: United States 2002
…finds that US energy policy has an influence on energy policy throughout the world. The 2001 National Energy Policy is an important development. The US is taking unilateral action as an alternative to the Kyoto Protocol. This report urges consideration of legislation on carbon dioxide and adoption of policies allowing international trading in emissions. Strengthening fuel economy standards is an encouraging approach to energy use in transport. Different standards for cars and light trucks should be addressed as a priority. Policies to promote new sources of energy supply should be balanced by continuing effort to enhance efficient use of energy…
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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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Energy Policies of IEA Countries: United States 2007
Energy Policy Review Energy Policies of IEA Countries: United States 2007 The United States is the largest economy and energy user in the world. Significant developments have taken place in its energy policy since the last IEA review in 2002. Most important is the Energy Policy Act 2005 – a comprehensive energy legislation which has set new directions, including opening the way for a nuclear renaissance. Two closely connected challenges shape all debates on the nation’s energy policy path: how to increase security by reducing the dependence on imported supplies; and how to address growing emissions of greenhouse gases. The…