The Korean government is committed to advance the country’s energy transition to greener energy by increasing the share of renewable electricity to 20 percent by 2030 and to 30–35 percent by 2040. Achieving these goals will necessitate flexibility in energy markets as well as innovative business models and technological solutions. Peer-to-peer (P2P) electricity trading platforms (ETPs) are rapidly gaining traction, as they enable the integration of distributed energy sources into power systems. This study explores whether South Koreans are willing to participate in a hypothetical P2P ETP, which allows prosumers (who both consume and produce electricity) to trade electricity surpluses with their neighbours or with KEPCO (Korea Electric Power Corporation). We employ a choice experiment (CE) to examine respondent heterogeneous preferences and their willingness to pay (WTP) for a hypothetical P2P ETP in South Korea. Our findings indicate that two-thirds of total respondents in our CE are in favour of a P2P ETP if available. Cost savings and security play an essential role in respondent preferences for a P2P ETP business model. Respondents also prefer to trade renewable electricity with KEPCO rather than with other individuals. Per our statistical estimations, respondent WTP for a P2P ETP was estimated at USD 55.68/per month. Our analysis strongly recommends increasing consumer awareness of P2P ETPs to spur adoption. Energy trading platforms that are anchored in secure block chain technology can generate cost savings as well as support the country’s policy tilt toward green energy.

This study examined whether people who reside in different regions of South Korea exhibit different WTP for the mitigation of PM2.5 emissions from coal-fired power plants by restricting their operation during the winter and spring when air pollution becomes severe. The eastern portions of the country are relatively insulated from the harmful effects of PM2.5 emissions due to northwest winds which cause air pollutants generated from coal-fired power plants to be carried out to the East Sea (Sea of Japan). Consequently, our sample group was divided into central, western, eastern, and southern regions, and a contingent valuation method, combined with a double-bounded dichotomous choice, was used to derive people’s WTP for the mitigation of PM2.5 emissions. Our estimation results indicated that respondents who live in eastern regions showed a significantly lower WTP (about KRW 1280/month) than the mean WTP of other regions (above KRW 1337/month). Thus, we suggest that the current Seasonal Management System of PM2.5 emissions should be modified to consider regional differences. Statistical results from this study reinforce our suggestions—almost 78 percent of survey respondents support a revision of the current SMS policy and are in favor of a revised SMS policy—one that exempts eastern regions from a nationwide shutdown of coal-fired generation from December to March. Exempting coal-fired power plants in eastern regions from the Seasonal Management System might result in significant fiscal savings without a corresponding increase in nationwide PM2.5 concentrations.

This study examined if people who reside in different regions of South Korea exhibit different WTP for the mitigation of PM2.5 emissions from coal power plants by restricting the operation of such plants during the winter and spring when air pollution becomes severe. A contingent valuation method combined with a double bounded dichotomous choice was used to derive people’s WTP for the mitigation of PM2.5 emissions. Sample group was divided into central, western, eastern, and southern regions. It is known that the eastern region is affected by northwesterly winds in the winter and spring seasons, so air pollutants in the eastern areas fly to the eastern sea. According to the estimation results, respondents who live in eastern regions showed significantly lower WTP than the average WTP. We suggest that the mitigation policy on PM2.5 emissions should consider regional differences in the contributions of coal power plants to PM2.5 emissions.

The paper reports on an investigation into the impact of energy poverty and social capital on well-being, comparing individuals from below- and above-poverty line households. A multidimensional energy poverty index (MEPI) was constructed using a generalised structural equation modelling approach to measure the effect of energy poverty on well-being. We found that that higher levels of energy poverty, measured objectively as an MEPI, or subjectively as energy satisfaction, affected well-being negatively, while higher levels of social capital increased well-being. However, the effects varied by household income: MEPI only had a negative effect on well-being for low-income household respondents, and subjective energy poverty only had a negative effect on low-income and middle-income household respondents. Similarly, social capital’s impact varied by household income: for both groups, the strongest source of higher well-being was a sense of belonging, whereas the impact of political trust was stronger for higher-income groups. The findings suggest that policies which decrease energy poverty would improve well-being, but should take into account specific household and community characteristics. Further, fostering neighbourhood social capital is essential, especially for the poorest of the poor.