| 来源类型 | Research papers
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| 规范类型 | 报告
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| (Draft) A Study on the Purchase Type of Bituminous for Power Generation |
| D. S. Roh
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| 发表日期 | 2012-01-30
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| 出版年 | 2012
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| 语种 | 英语
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| 摘要 | ABSTRACT
1. Research Purpose
After the restruction of power industry in 2000, five power companies and one nuclear company compete in the wholesale power market. Five power companies earn main revenue from coal power plants. They import the coal independently.
These contract behavior raise the question of inefficiency. This argument is based on following reason. If power companies can make group when buy the coal, they can import more cheaper because of the volume discount. On the contrary, counter argument is that the unit contract of coal volume is large enough for volume discount.
This paper checks five power companies�� coal importing data from 2001 to 2009 for verification of integrated or independent contract.
2. Summary
We apply following process for the data analysis. First, the data are reconstituted based on volume size by company and year. Second, unit calory prices are calculated and compared. Third, the influences of changing the exporting country are analyzed.
The results of study are as follows.
We can't find evidence of the economy of coal purchasing scale or volume discount. Correlation between volume and price shows random walk state instead of positive relation. The effect of changing exporting country is estimated $25/toe (about $15/ton)
In conclusion, coal price is decided by purchasing strategy like changing exporter, adjusting ratio of spot market and long-term contract, etc. than volume.
3. Research Results and Policy Implications
Generally, independent contract arouses increasing the transportation and inventory cost, lowering the quality of man power. But it also has strong point like lowering the import cost by competition, improving the flexibility. So, it's not easy to conclude the buying strategy, group or independent contract.
Anyway, there's no evidence of the volume discount from the power companies data. And it's not appropriate to go to the past due to the inefficiency of coal purchasing behavior. |
| URL | http://www.keei.re.kr/web_keei/en_publish.nsf/by_report_year/CE0F6BDFCB603A5449257B03004989E8?OpenDocument
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| 来源智库 | Korea Energy Economics Institute (Republic of Korea)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/322660
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推荐引用方式
GB/T 7714 |
D. S. Roh. (Draft) A Study on the Purchase Type of Bituminous for Power Generation. 2012.
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文件名：
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2010_RohDongSeok_draft.pdf
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格式：
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Adobe PDF
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