Economic Fundamentals of Power Plant Performance

By: Almas Heshmati

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Hardcover | 20 October 2011 | Edition Number 1

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Hardcover
352 Pages

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23.39 x 15.6 x 2.06

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Stability of the electricity industry is crucial for　economic growth of all nations. Sustainable economic growth cannot be accomplished without secured energy supply.　The book underlines how　management of the electricity industry should be conducted and the efficient form of electricity market structure. The book also studies the　electricity industry in Korea which　has been a strongly supportive and vital factor in the economic development of Korea for the last few decades.

The book focuses on the three market players of the electricity market and they are the suppliers, consumers and the government-related organizations. It includes detailed information on generation and finances at the generator level and analyzes the efficiency differences among generators, plants and business units by using different performance measurement methods. It identifies and analyzes different production factors' effectiveness and relationships in generation. The comprehensive analysis helps to provide explanations in the differences in the performance of the studied units. The book also discusses the implications of the findings for future resource allocation and how we can further enhance the efficiency of the industry.

The book will appeal to those interested in energy and energy policies, as well as researchers and practitioners in the economic development and electricity and utilities industry.

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You Can Find This Book In

Non-Fiction Economics Economics of Industrial Organisation Industry & Industrial Studies Energy Industries & Utilities Electrical Power Industries Reference, Information & Interdisciplinary Subjects Interdisciplinary Studies Regional Studies Microeconomics Engineering & Technology Energy Technology & Engineering

Science Physics Classical Mathematics Energy Environmental Science

List of figures	p. xvii
List of tables	p. xxiii
Preface	p. xxvii
List of abbreviations	p. xxix
Introduction	p. 1
Background to the Korean electricity industry	p. 1
Background to the world electricity industry	p. 4
Background to previous research on the electricity industry	p. 5
Objective of this study	p. 5
Generator-level database	p. 7
Methodology	p. 7
Application and expected results	p. 8
Organization and structure of the book	p. 9
The Korean electricity industry	p. 11
Introduction	p. 11
Energy sources, self-sufficiency, security, and vulnerability	p. 12
Supply side and its development	p. 17
Demand side and its development p29
Management, competition, finances, and performance	p. 35
Summary	p. 39
Market structure of the electricity industry	p. 41
Introduction	p. 41
Different power plants in the Korean electricity industry	p. 43
Other residual power plants and features of the electricity market	p. 54
Structural organization of the electricity industry	p. 62
R&D investment, public intervention, concentration, and performance	p. 69
Summary	p. 75
Global trends in the electricity industry and energy consumption	p. 78
Introduction	p. 78
The literature on the electricity market	p. 79
Global trends in energy production and energy use	p. 83
Global trends in development of the electricity industry	p. 85
Determinants of supply and demand for electricity	p. 95
Literature on measurement and analysis of performance	p. 98
Structural reorganization and changes in ownership	p. 99
Literature on reorganization of the market	p. 103
Evidence on reorganization of the electricity market	p. 106
Summary and conclusions	p. 108
Overview of performance methodologies	p. 111
Introduction	p. 111
Factor productivity	p. 112
Parametric approaches to performance analysis	p. 124
Comparison of the different measurement methods	p. 128
Summary of methods of performance analysis	p. 132
Previous efficiency analysis of electricity generation	p. 134
Introduction	p. 134
Earlier studies analyzing effects of restructuring	p. 135
Management performance studies	p. 135
Comparison of the performance of Korea and other countries	p. 137
Recent performance analysis of Korean electricity market	p. 141
Efficiency measurement and determinants of efficiency	p. 144
Summary of the previous research and lessons learned	p. 146
Generator-level data	p. 148
Introduction	p. 148
Factor inputs	p. 154
Generation output	p. 168
Characteristics of output	p. 172
Characteristics of producers	p. 174
Characteristics of intervention: public support	p. 177
Summary of strengths and weaknesses of the data and suggestions	p. 178
Analysis of performance at generator level and policy implications	p. 180
Introduction	p. 180
Stochastic frontier production and cost analysis (SFA)	p. 181
Data envelopment analysis (DEA)	p. 228
Malmquist productivity index analysis (MPI)	p. 250
Summary of results from different performance methodologies	p. 273
Summary and conclusions	p. 278
The background to this study	p. 278
Summary of the results	p. 283
Performance index analysis	p. 293
Performance index trend analysis	p. 294
Policy implications of the results	p. 294
Some concluding remarks about future studies of performance	p. 296
Notes	p. 301
Bibliography	p. 303
Index	p. 309
Table of Contents provided by Ingram. All Rights Reserved.

Economic Fundamentals of Power Plant Performance

At a Glance

Hardcover

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Defective items

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