Power specialists have identified that liquefied pure fuel (LNG) energy vegetation have to be actively utilized as reserve energy sources to easily promote the renewable energy-centered power transition being pursued by the Lee Jae Myung administration. The argument is that compensation ought to be expanded when LNG energy vegetation function to complement the intermittency of solar energy technology, and a devoted bidding marketplace for reserve energy sources ought to be opened.
Prof. Cho Hong-jong of Dankook College’s Economics Division, who serves as president of the Korea Useful resource Economics Affiliation, identified at a seminar titled “Korea’s Energy Market Reform Plan Based mostly on Europe’s Power Transition Course of” held at Yangjae L Tower in Seocho-gu, Seoul on Nov. 12 that “Europe, which pursued fast decarbonization insurance policies, is experiencing a triple burden of hovering electrical energy charges, provide instability, and weakened industrial competitiveness because of its renewable energy-centered energy construction,” including that “decarbonization should not result in deindustrialization.” The argument is that whereas numerous efforts are wanted to attain carbon neutrality by 2050, imposing extreme burdens on corporations throughout this course of may have important hostile results. Prof. Cho stated, “In Germany, company abroad relocations are accelerating, and Spain even skilled large-scale blackouts,” including that “consciousness of energy provide stability is heightening throughout Europe.”
Consultants proposed enhancing the LNG energy technology capability market system to beat grid instability ensuing from renewable power growth. Since renewable power energy vegetation discover it tough to manage their technology output persistently, reserve energy sources are wanted to steadiness energy grid provide and demand. LNG energy vegetation, which may regulate energy extra simply in comparison with nuclear or coal energy vegetation, are thought of superb for this function. An trade official emphasised, “LNG energy vegetation are already being actively utilized as energy sources that complement the intermittency of solar energy technology,” including that “as renewable power technology amenities improve, reserve amenities should additionally improve accordingly.”
In keeping with Prof. Park Yong-gi of Youngsan College’s Electrical and Digital Engineering Division, the function of LNG energy vegetation as reserve energy sources is definitely increasing. Whereas solar energy technology elevated from 13.5TWh in 2019 to 34.6TWh in 2023, the annual startup frequency of LNG turbines elevated from 7,380 occasions to 14,291 occasions. This means that as solar energy technology elevated, LNG energy vegetation adjusted their energy extra regularly to answer intermittency.
The issue is that the present system doesn’t present ample compensation for this reserve energy function. An trade official defined, “Mainly, energy vegetation are most cost-efficient when working 24 hours a day,” including that “lots of power is consumed when initially heating up the facility plant.” Because of this prices improve the extra regularly gear is turned on and off. Professor Park identified that “startup strategies (scorching, heat, chilly) differ by generator, however compensation is at the moment targeted on scorching startups, which value the least,” emphasizing the necessity to enhance the startup value compensation system.
Prof. Park additionally steered establishing a separate reserve energy market. Energy authorities predict each day energy demand to steadiness energy grid provide and demand, then decide suppliers by means of energy provide plans and renewable power bidding markets. They put together a specific amount of reserve energy in case precise demand exceeds predictions. The proposal is to determine a separate marketplace for this reserve energy slightly than having authorities unilaterally decide it, permitting essentially the most cost-efficient operators to take part.
Lee Un-ho, vp of the Korea Impartial Energy Producers Affiliation, stated, “LNG energy technology shouldn’t be an influence supply that competes with renewable power, however a associate that helps renewable power growth,” including that “establishing a rational compensation system is pressing for the profitable implementation of the federal government’s power transition plan.”
