Table 6. Comparison of option value and NPV by heat subsidy level.

Heat subsidy (KRW/kcal) Option value (1000KRW) NPV (1000KRW)
0 ₩0 ₩-2,086,258
0.01 ₩0 ₩-1,710,913
0.015 ₩0 ₩-1,523,240
0.02 ₩0 ₩-1,335,568
0.0248 ₩1,271 ₩-1,155,402
0.025 ₩2,306 ₩-1,147,895
0.05 ₩437,142 ₩-209,533
0.055 ₩569,459 ₩-21861
0.056 ₩595,923 ₩15,674
0.06 ₩701,777 ₩165,812