The aim of the research is to suggest policy implications for Korean companies that want to expand their business in the Middle Eastern electricity industry, examining industrial policies in the generation, transmission, distribution, and energy efficiency sectors.
   Chapter 2 touches upon supply and demand of electricity in the region and their characteristics, deriving some policy trends such as diversification of power sources, improvement of the efficiency of electricity consumption and supply, and more involvement of the private sector in electricity businesses. The Middle Eastern countries, which are yet highly dependent on fossil fuel energy, have been recently concentrating on developing renewable energy as an alternative in order to prepare for the post-oil era. In particular, it is generally assumed that the proportion of solar and wind power will increase due to environmental circumstances favorable to their development and the decreasing cost of generation. Energy efficiency programs and smart grids have been also adopted to respond to the rapidly increasing demand for electricity as well as relatively high rate of electricity losses in the transmission and distribution sectors. Moreover, Middle Eastern governments have been promoting the private sector’s participation in the electricity industry to mitigate the financial burdens caused by lower oil prices.
   Chapters 3 and 4 deal with sectoral policies in the cases of Saudi Arabia, UAE and Egypt. Policies in the generation sector have been examined in Chapter 3. The three Middle Eastern countries have been expanding their power infrastructure, implementing policies to diversify their energy mix. Although thermal power plants using oil and gas are prevalent in these nations, accounting for more than 90% of total generation, those countries are trying to increase the share of alternative energy power plants including renewable and nuclear energy. Moreover, decreasing costs associated with solar and wind power generation have led these countries to be more active in expanding renewable power generation. Egypt, on the other hand, is promoting coal-fired power plants to compensate for its diminishing supply of natural gas. With the economic slowdown and fiscal aggravation in those countries since the drop in oil prices in the second half of 2014, heavier reliance on private investment is expected, eventually leading to the expansion of IPP (Independent Power Producer) and IWPP (Independent Water and Power Producer) projects in the region. With priority being placed on investment to the power sector, Korean companies will have more opportunities to enter into the Middle East power market. With the share of IPP and IWPP projects growing in the power sector, in particular, Korean companies need to transform their role into that of a developer in charge of overall operation of projects, including financing.
   The three countries are pushing ahead with policies to modernize transmission and distribution lines, introduce smart grid technology and improve the efficiency of energy consumption shown in Chapter 4. In the transmission and distribution sector, GCC countries such as Saudi Arabia and UAE are working to connect each country with a power grid that applies a 400 kV HVDC (High Voltage Direct Current) transmission scheme to improve the efficiency of electric supply. It is expected that the GCC countries will introduce a sophisticated power trading system and expand this grid to Egypt, Jordan and other Middle Eastern countries. Egypt is also concentrating on modernizing its local transmission and distribution lines. In the smart grid sector, most policies and business projects are focused on AMI (Advanced Metering Infrastructure) test projects or the introduction of smart meters. In particular, UAE is carrying forward smart grid projects that combine renewable energy and ESS (Energy Storage System). In the area of improving energy consumption efficiency, policies to grade and regulate energy efficiency standards, or to improve public awareness on energy savings are being promoted. For the efficient management of energy consumption, Middle Eastern countries are introducing BEMS (Building Energy Management Services) with Saudi Arabia and UAE showing higher growth in the field. It will be necessary to develop high value-added products to advance into the market for electric power equipment in these countries. This is because local companies in Saudi Arabia and UAE are producing general electric equipment and their governments are encouraging construction companies to use local products to nurture the domestic industry. In addition, Korean companies should consider joint ventures with local power companies, and conduct OJT (On the Job Training) programs and technology transfer with local companies to establish favorable business conditions for their advance into the region.
   Chapter 5 suggests government policies that help Korean companies expand their market in the Middle Eastern electricity industry. First, financial support policies are necessary to assist their project-developing costs including feasibility study. More financial incentives could be also provided as more Korean contents are used in the projects. Korean companies’ financial burden arising out of higher borrowing rate of interest could be relieved with the help of a longer tenor for Korean financial institutions. Second, more support should be considered for small and medium sized enterprises that cannot go into the Middle Eastern market by themselves because of lack of financial resources and track record in the region. Cooperative relations between large companies and SMEs are necessary for SMEs to expand exports of equipment and materials used in the power plant projects. The sharing of information on the projects among large companies and SMEs could be helpful in strengthening their cooperation. Joint ventures between SMEs and local companies need to be supported with policy loans. Third, new business with ICT in the electricity industry such as smart grids, AMI (Advanced Metering Infrastructure), ESS (Energy Storage System) should be systematically developed in the region. Initially, consulting business should be promoted with government officials including master plan for smart grid establishment, energy efficiency improvement programs. Then test-bed programs should be followed to examine the feasibility of the masterplan. Korean consortium between large companies and the SMEs could be awarded orders based on consulting and test-bed results. Fourth, a control tower should be set up in order to coordinate differing interests among companies, banks, supporting institutions. It can also work as a platform to build a strategy to win government contracts. In addition, corporate cooperation system should be established to share information on various projects, financial sources, success and failure cases of winning orders, and so on. This would be helpful to expand cooperation among Korean companies and financial institutions, exploring new business opportunities in the Middle East. 

서언

국문요약

약어표

제1장 머리말
1. 연구의 배경 및 목적
2. 연구의 범위 및 방법론
3. 연구의 구성 및 차별성

제2장 중동지역 전력 수급의 구조 및 특성과 주요 정책과제
1. 전력 수요 동향 및 특성
가. 동향
나. 소비 구조 및 특성
2. 전력 공급 동향 및 특성
가. 동향
나. 공급 구조 및 특성
3. 주요 정책과제
가. 발전원 다변화
나. 전력 공급 및 소비 효율 개선
다. 전력산업의 민간부문 확대
4. 소결

제3장 주요국의 인프라 확충정책과 기업 진출 시사점
1. 발전 인프라 확충
가. 전력 수급구조
나. 발전 인프라 확충정책
다. 기업 진출 사례 및 시사점
2. 발전원 다변화
가. 발전원별 전력 공급구조
나. 발전원 다변화 정책
다. 기업 진출 사례 및 시사점
3. 민간투자 확대 및 민영화
가. 민간투자 확대
나. 민영화 추진
다. 기업 진출 사례 및 시사점
4. 소결

제4장 전력 수급 관리 및 에너지효율 개선정책과 기업 진출 시사점
1. 역내 전력망 통합과 송배전망 현대화
가. 역내 전력망 통합
나. 송배전망 현대화
다. 기업 진출 사례 및 유망 분야
2. 스마트 그리드 구축
가. 스마트 그리드 구축 배경 및 주요 정책
나. 스마트 미터 및 AMI 시범사업
다. 기업 진출 사례 및 유망 분야
3. 에너지소비효율 개선
가. 에너지효율등급제도 및 고효율 전기제품 사용 권장정책
나. 건물에너지 관리서비스 사업
다. 기업 진출 사례 및 유망 분야
4. 소결

제5장 기업 진출 확대를 위한 정책 비전 및 지원방안
1. 연구 결과 및 시사점 요약
2. 정책 비전 및 기본 정책방향
3. 중동 전력부문 진출 확대를 위한 지원방안
가. 전력부문 투자개발형 사업 진출 확대
나. 전력 기자재 수출 및 현지 생산 확대
다. 전력 신산업의 대중동 진출모델 개발
라. 기업간 협력시스템 구축

참고문헌

Executive Summary