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Preventive Maintenance and Forced Outages in Power Plants in Korea

Author

Listed:
  • Tae-Woo Kim

    (School of Mechanical Engineering, Pusan National University, Pusan 46241, Korea)

  • Yenjae Chang

    (School of Economic Sciences, Washington State University, Pullman, WA 99164, USA)

  • Dae-Wook Kim

    (Department of Economics, Soongsil University, Seoul 06978, Korea)

  • Man-Keun Kim

    (Department of Applied Economics, Utah State University, Logan, UT 84322, USA)

Abstract

Maintaining high facility reliability in power plants is essential to secure long-term electricity supply. This paper applies the survival analysis to the actual unit level power generation data in Korea to estimate the relationship between facility reliability and the preventive maintenance. Duration of generators between forced outages is used to measure plant reliability. the empirical analysis shows that preventive maintenance cost, planned outage for maintenance, use rate, and reserve margin lead to the longer duration of generators and, in turn, the lower forced outage rates. We uncover that the marginal benefit of the preventive maintenance cost is decreasing at an increasing rate. It indicates that the marginal benefit of the “current” maintenance cost is minimal. Results in the paper imply that power plants in Korea might be spending unnecessarily high maintenance costs considering already having world’s lowest forced outage rates.

Suggested Citation

  • Tae-Woo Kim & Yenjae Chang & Dae-Wook Kim & Man-Keun Kim, 2020. "Preventive Maintenance and Forced Outages in Power Plants in Korea," Energies, MDPI, vol. 13(14), pages 1-12, July.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:14:p:3571-:d:382984
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    References listed on IDEAS

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