• Environmental and Resource Economics Review
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• v.13 no.1
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• pp.33-47
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• 2004

Even though the price of extracted but unprocessed coal has been available in Korea, the use of it as scarcity index would be inappropriate because of price subsidy. Following Halvorsen and Smith(1984), Kim and Lee(2002) derived estimates of the shadow price of unextracted coal by estimating the restricted cost function and differentiating with respect to the quantity of coal extracted. In Korea, however, due to the limited data the capital prices have been computed inconsistently case by case without relying on the robust formula like the Christensen-Jorgenson methodology used in US, which could result in biased estimators of the restricted cost function. In the paper the shadow prices of the resources in situ are obtained by measuring an input distance function defined by Shephard (1970), which requires only the data on the quantities of inputs and output. Empirical results for the Korean coal mining industry show that these shadow prices as a coal scarcity have increased fast by approximately three times in comparisons with those obtained by Kim and Lee.

• Advances in Energy Research
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• v.1 no.2
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• pp.127-146
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• 2013

Torrefaction technologies convert assorted biomass feedstocks into energy-concentrated, carbon neutral fuel that is economically transported and easily ground for blending with fossil coals at numerous power plants around the world without needs to retrofit. Utilization of torrefied biomass in conventional electric generating units may be an increasingly attractive alternative for electricity generation as aging power plants in the world need to be upgraded or improved. This paper examines the economic feasibility of torrefaction in different scenarios by modeling torrefaction plants producing 136,078 t/year (150,000 ton/year) biocoal from wood and corn stover. The utilization of biocoal blends in existing coal-fired power plants is modeled to determine the demand for this fuel in the context of emerging policies regulating emissions from coal in the U.S. setting. Opportunities to co-locate torrefaction facilities adjacent to corn ethanol plants and coal-fired power plants are explored as means to improve economics for collaborating businesses. Life cycle analysis was conducted in parallel to this economic study and was used to determine environmental impacts of converting biomass to biocoal for blending in coal-fired power plants as well as the use of substantial flows of off-gasses produced in the torrefaction process. Sensitivity analysis of the financial rates of return of the different businesses has been performed to measure impacts of different factors, whether input prices, output prices, or policy measures that render costs or rewards for the businesses.

• 한국연소학회:학술대회논문집
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• 2006.10a
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• pp.282-292
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• 2006

Various kinds of coals are supplied for coal fired power plants as the coal market situations are fluctuated with the high prices of oil and coals over the world. The quality of coal is decreasing as coal consumption increased and some specifications of coals are out of boiler design criteria. It could make combustion troubles such as coal clogging, spontaneous combustion, coal firing in the coal handling equipments, ash slag and clinker issues, etc. This paper covers combustion troubles, issues and countermeasures in the biggest coal fired power plant in Korea.

• Plant Journal
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• v.5 no.4
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• pp.73-79
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• 2009

Increase of consumption in limited coal reserves leads prices surging. As a result, iron works which produce products with coal are in difficulties. Accordingly, it is required a lot of research of using non-caking coal that is relatively low cost and has abundant reserves. Direct drying and indirect drying are two major methods of drying the coal. Recently, to minimize the needed calories and to save energy, using fluidbed or fluidizing method is a recent main trend of minimizing the size of the facility and maximizing energy efficiency. However there is also disadvantage such as increasing facility investment because of installing additional facilities in the latter part. In this study, we will have theoretical researches on the indirect drying method with heat exchange system which have been traditionally used. As a result it is expected to increase the efficiency of the facility operation.

• 한국연소학회:학술대회논문집
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• 2012.11a
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• pp.107-109
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• 2012

In Korean coal power plants, rising coal prices have recently led to the rapid utilization of low lank coals such as sub-bituminous coal with low calorific values and low ash fusion temperatures. Using these coals beyond the design range has resulted in important issues including slagging and fouling, which cause negative effects in boiler performances and unstable operations. The purpose of this study is to observe slagging and fouling characteristics resulted from burning various ranks of pulverized coals. We have tested 3 different coals: FLAME(bituminous), KCH(sub-bituminous) and MOOLARBEN(bituminous)coals in the pilot system $50kW_{th}$ scale. A stainless steel tube with preheated air inside was installed in the downstream in order to simulate water wall. Collected ash on the probe and the slag inside the furnace near burner were analyzed by SEM (scanning electron microscopy) to verify the formation degree, surface features and color changes of the pasty ash particles. Induced coupled plasma and energy dispersive X-ray spectroscopy were also performed to figure out the chemical characteristics of collected samples. As a result, KCH was observed that more slag was developed inside the walls of the furnace and on the probe than the other two kinds of coals, as shown in the calculate slagging and fouling indices as well.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.663-670
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• 2016

This paper analyzes the asymmetric pass-through effects of crude oil price changes on export prices in Korea's manufacturing sector using a nonlinear autoregressive distributed lag (NARDL) model. These pass-through effects are important for Korean companies that are highly dependent on exports. Because the effects differ by industry, eight sectors of the manufacturing industry were examined. The model is effective for separately testing the long-term and short-term differences between the export-price pass-through effects when crude oil prices increase and decrease. The estimation results show that there is positive pass-through to export prices as crude oil prices change, and there are asymmetric effects in some manufacturing sectors. Short-term asymmetries were detected in the export prices of five sectors that include general machinery and transport equipment, and significant long-term asymmetries were found for petroleum and coal products and for textile and leather products. The long-term export price of oil and coal products rose by 0.992% with a 1% increase in the oil price and fell by 0.977% with 1% decrease. Therefore, corporate strategies and government export policies should be established in accordance with these asymmetric pass-through effects.

• Environmental and Resource Economics Review
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• v.29 no.2
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• pp.145-170
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• 2020

This study analyzes the dependence structure between energy (crude oil, natural gas, coal) prices and economic (real and financial) uncertainty. Summary of the results of the dependence structure between energy prices and economic uncertainty analysis is as follows. First, the results of model selection show that the BB7 copula model for the pair of crude oil price and economic uncertainty, the Joe copula model for the pair of natural gas price and economic uncertainty, and the Clayton copula model for the pair of coal price and economic uncertainty were chosen. Second, looking at the dependency structure, it showed that the pair of energy (crude oil, natural gas, coal) prices and real market uncertainty show positive dependence. Whereas, the only pair of financial market uncertainty-crude oil price shows positive dependency. In particular, crude oil price was found to have the greatest dependence on economic uncertainty. Third, looking at the results of tail dependency, the pair of real market uncertainty-crude oil price and pair of real market uncertainty-natural gas price have an asymmetric relationship with the upper tail dependency. It can be seen that the only pair of financial market uncertainty-crude oil represents asymmetric relationships with the upper tail dependencies. In other words, combinations with asymmetric relationships have shown strong dependence when negative extreme events occur. On the other hand, tail dependence between economic uncertainty and coal price be not found.

• Environmental and Resource Economics Review
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• v.16 no.2
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• pp.337-361
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• 2007

Using the sample of bituminous coal prices, this study calculates the cash flows of selective procurement strategies compared to the previous routine procurement strategies, and analyzes the revenue-improvement and revenue-stabilization effects of different procurement strategies. In empirical analyses, these effects of routine and selective procurement strategies are compared by forecasting model and forecasting period. The revenue-improvement and revenue-stabilization effects are analyzed to compare the distribution of return flows, that is the means and standard deviations of procurement revenue flows. The revenue-improvement and revenue-stabilization effects of selective procurement strategies compared to the previous routine procurement strategies are as follows. Compared with routine procurement strategies, the selective procurement strategies turn out to yield higher means of returns (except for some forecasting periods and models). On the contrary, the standard deviations of returns decrease. With longer forecasting periods, the amounts of increases in the means become larger, but the degrees of decreases in the standard deviations vary. Although there exist some variations, some forecasting models outperform the others in terms of means and standard deviations.

• Resources Recycling
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• v.19 no.3
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• pp.16-23
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• 2010

Coal briquette use has dramatically increased because of high oil prices. Hence, it is necessary to develop an environment-friendly recycling technique of the coal briquette ash. The coal briquette ash contains a large amount of an unburned carbon content and a mullite with high thermal property, so it is considered to be used as raw materials of sintered eco-brick. This study aimed to investigate on how the unburned carbon affects properties of the sintered eco-brick. The eco-brick was mixed with the ratio of 50 wt% coal briquette ash having the unburned carbon 10.5 wt% and 50 wt% cullet, then being sintered at $950^{\circ}C$, which of the compressive strength was in line with the first class of the sintered clay brick standard(KS L 4201). In particular, the compressive strength of the sintered eco-brick was equal to the first class of the KS L 4201 despite the increase of mixing ratio for coal briquette ash with 1.0 wt% unburned carbon to 70 wt%.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.4
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• pp.700-706
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• 2010

Carbon costs, either in the form of a carbon tax or through permit prices in an emissions trading scheme, would ultimately be reflected in higher electricity prices. This price "pass-through" is very critical to the effective design of new policies to curb the amount of carbon emissions. This paper sets out in a structured way the factors that determine price pass-through and how carbon costs would impact on the electricity market and the existing coal-fired power plants. It is shown that pass-through can vary drastically if the underlying dispatch potential of generators varies significantly across alternative emissions reduction scenarios. It can also vary depending on the availability of competing cleaner forms of generation. Pass-through as a measure of business performance is therefore hard to generalize across different circumstances and should be interpreted carefully.