Journal Abbreviation : ' j. Korea Saf. Manag. Sci.' Frequency : Quarterly Doi Prefix : 10.12812/ksms ISSN : 1229-6783 (Print) / 2288-1484 (Online) Year of Launching : 1999 Publisher : Korea Safety Management & Science Indexed/Tracked/Covered By :
A Study on Environmental Impact and Cost Analysis in Electricity Generation Using MFCA For a Coal-fired Power Plant
Byung-Sun Lim*, Seungwook Park*
*Depratment of Sustainability Management, INHA University
†Corresponding Author : Seungwook Park, College of Business Administration, INHA UNIVERSITY, 100, inha-ro, Nam-gu, Incheon, M․P : 010-4615-2351, E-mail: separk6112@inha.ac.kr
January 04, 2015
March 16, 2015
March 19, 2015
Abstract
Global warming has pressured companies to put a greater emphasis on environment management which allows them to reduce environmental impact and costs of their operations. In Korea, the coal-fired power plants take a large account of electricity generation at 31.7% of the total electricity usage in 2014. Thus, environmental impact of coal-fired power plants is significant. This paper illustrated how to compute environmental impact and costs in electricity generation at a coal-fired power plant using MFCA methodology. Compared to the traditional accounting, an advantage of MFCA is to provide information on electricity generation costs and environmental wastes incurring throughout the production process of electricity. Based on MFCA, the coal-fired power plant was able to reduce production cost of electricity by 52.3%, and environmental wastes by 47.7%. As a result, MFCA seemed to be an effective tool in environmental management for power plants.