AN FORMULATION OF THE ENERGY MODEL FOR THE KOREAN ENERGY INDUSTRY

The main contribution this research is the development of methodology which is capable of solving problems associated with the capacity expansion and operating schedule of energy industries. The principal concern of such industries is the proper allocation of primary energy which are required for the production of sufficient supply of electricity and petroleum products for the Korea`s energy needs. Nonlinear programming models are developed for power generation expansion planning and for the oil refinery industry. In order to deal with uncertainties about future demands for final energy, chance-constrained programming is used to formulate appropriate constraints. The methodology of the model can be used to evaluate Korean energy and expansion planning in the energy industry, especially the electric power generation industry and the refinery industry.