Multi-criteria decision analysis of electricity sector transition policy in Korea

Abstract

The electricity sector in Korea is facing complex sustainability issues with recent government energy policy reprioritizing social and environmental concerns over economics. As a response, we developed a multi-criteria decision making (MCDM) model linked to an energy-system model to assess the sustainability of different policy scenarios in the Korean electricity sector. Our analysis shows that, while the new transition policy is not an attractive option in total cost and emissions, it can be desirable when we consider other aspects. Based on several trade-off analyses among different criteria, the most preferred direction of energy transition is reducing coal. This study, based on realistic policy scenarios, will assist in resolving the sustainability conundrum of the Korean energy sector.

Keywords

• MCDM
• Goal programming
• Electricity sector transition
• Energy system model
• Policy analysis