• Proceedings of the KIEE Conference
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• 2003.11a
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• pp.422-425
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• 2003

CBP market which is the first stage of competitive electricity market has been operated and the KPX has been established since April, 2001 by restructuring plan for electricity industry. Baseload unit are settled with baseload CP and BLMP in CBP market. The other unit are settled with peakload CP and SMP. The difference of settlement between two groups occurs the profit changes of the unit. This paper analyzes the profit by units under settlement rule in CBP market. It analyzes the difference between market clearing price and variable costs, and fixed cost recovery through CP income. Finally, this paper suggests the plan how market was affected by the difference of fixed cost recovery by generators and how to improve Intermediate and peak load unit's profit.

• Proceedings of the KIEE Conference
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• 2001.05a
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• pp.108-111
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• 2001

The electric power industries in Korea are launched into deregulation by introducing the CBP(Cost Based Pool), where generation sector of KEPCO was divided into six generation companies and the other sectors of KEPCO remains vertically integrated system. In deregulated market, participants are concerned with maximization of their profit rather than minimization of system-wide costs. Consequently, there are difficulties in applying the cost minimization for the scheduling of generation resources to CBP, because of the operation of pumped-storage hydroplants. This paper presents an operation method of pumped storage hydroplants which is helpful for the economic operation of power system considering the market in the CBP.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.67 no.5
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• pp.617-625
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• 2018

Since FERC order 755 was published, each frequency regulation market rules of the North American ISO/RTO have been revised in many parts. In 2016, the domestic CBP market has also changed its market rules to allow ESS to participate in the frequency regulation reserve services(Governor Free and Automatic Generation Control). This paper compares and analyzes the changed North American ISP/RTO market and domestic CBP market rules. In particular, we compare PJM and CAISO frequency regulation market pricing mechanism and settlement rules with the settlement rules of the domestic CBP market and compare the factors of each market used to compensate the participating resources in terms of resource dependency and accuracy.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.2
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• pp.88-96
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• 2005

At present, the Korean electricity industry is undergoing restructuring and the Cost Based-generation Pool(CBP) market is being operated preparing for Two Way Bidding Pool(TWBP) market open. As the circumstance of the traditional system is changed according to power system deregulation, the simulation tool which should reflect market code providing market operating mechanism is needed to analyze an electricity market. This paper presents the development of an unique market simulator, Market Modeling and Price Simulator(MMPS) that is designed to imitate the Korean electricity market considering uniform price. The MMPS is developed in VB.NET and is composed of two modules that consist of market modeling and price simulation interfacing access database program. To evidence the features and the performance of MMPS, a small two way bidding market with 12-bus system and one way bidding market for generator competition will be presented for the electricity market simulations using MMPS.

• Proceedings of the KIEE Conference
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• 2009.07a
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• pp.547_548
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• 2009

전력거래소에서 전력계통 및 전력시장 운영을 위해 도입한 핵심시스템은 EMS, MOS, CBP 이다. 이 세개 시스템은 각각 고유의 기능을 가진 별도의 시스템으로 구축되었다. 우리나라의 전력시장이 발전경쟁단계에 머무르면서 당초 양방향전력시장용으로 도입된 MOS시스템이 활용되지 못함에 따라 MOS시스템의 실시간 급전기능을 활용해 전력계통 운영의 안정성 및 경제성 향상을 꾀하고자 이 세 개의 시스템을 2006년 10월부터 연계 운영하고 있다. 이를 위해 CBP입찰값을 MOS의 입찰형식으로 변환하기위한 CBP-MOS 입찰변환시스템, 실시간 수요예측을 위한 수요예측 프로그램, MOS와 EMS를 일괄적으로 연계하기 위한 연계Mode, 각 발전기 운전원들에게 발전기의 급전계획값 및 실시간 운전현황을 전송하기 위한 급전지시시스템(MX) 및 전반적인 시스템 연계운영을 종합적으로 감시하기 위한 종합감시시스템 등을 개발하여 운영하고 있다.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.6
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• pp.1087-1092
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• 2009

This paper presents a method for improvement of capacity payment in CBP(cost based pool) market. Capacity payments have been used as common mechanisms in various pools for compensating generators recognized to serve a for reliability purpose. Ideal pricing for capacity reserves by definition achieves a balance between economic efficiency and investment incentives. That is, prices must be kept close to costs, but not so low as to discourage investment. However, the price set is not easy. This paper concludes with market design recommendations that apply fuzzy theory for improvement of capacity payment. Following this model, market participants decided on their own based on their forecast to the market demand and the payment for it.

• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.617-641
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• 2014

Korean electricity market is a Cost-Based Pool (CBP) designed to minimize electricity production cost through cost by providing cost reduction incentives to generators. Generation companies have shown diverse efforts to reduce costs in CBP market such as procuring low-price fuels, installing high efficiency gas turbine and constructing power plants near the heavy-load site. Recently, as a way to improve CBP market, a proposal to exclude no-load cost from System Marginal Price (SMP) and to compensate generators ex post was suggested to Korea Power Exchange. This study analyzes the impact of excluding no-load cost from SMP on the cost reduction incentive of generators. We found that excluding no-load cost from SMP enhances the likelihood of decreasing the cost reduction incentives of LNG combined-cycle generators lying on the price-setting range.

• Proceedings of the KIEE Conference
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• 2008.11a
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• pp.128-129
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• 2008

전력거래 계량시스템은 회원사의 계량기가 생성한 계량데이터로부터 계량값을 산출하고 각 계량기의 특성을 관리하며, 정산금 지급을 위한 시간대별 계량값을 정산시스템에 전송하는 기능을 수행한다. 또한 정보공개 시스템과 연계하여 회원사 계량값을 공개하는 전력거래 핵심 시스템이다. 현재 계량데이터 취득 방식은 전용선 및 공중선에 기반한 유선방식 위주이며, 향후 CDMA 통신망을 활용한 계량시스템을 구축하여 IT 무선기술을 계량체계에 도입할 예정이다.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.64 no.5
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• pp.667-679
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• 2015

The bearer of the power sector's ETS compliance cost is power consumer for the following reasons. Firstly, power companies are constrained in establishing appropriate strategies to comply with ETS regulations due to the structural differences between the domestic power market and emission trading system. In other words, because power companies do not have a right to determine price and production of electricity, they have to compete with other companies under disadvantaged conditions in the emission trading market. Secondly, because ETS compliance cost is part of power production costs as it is also clearly written in the national greenhouse gas reduction road-map and the second energy supply plan, the cost should be included in power price following the power market operation rule. Thirdly, the most effective method to reduce carbon emissions in power sector is to reduce power demand, which is efficiently achieved through raising power price to a realistic level. Low power price in Korea is the major cause of rising power demand which is also the major cause of rising GHG emission. Therefore, power sector's ETS compliance cost should be included in power price to encourage power consumers' actions on reducing power consumption. Fourthly, when externality cost occurs in the process of delivering public services, usually beneficiary pay principle is applied to identify the cost bearer. Since electricity is one representative public good, the bearer of power sector's ETS compliance cost is power consumer.

• Proceedings of the KIEE Conference
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• 2008.11a
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• pp.421-422
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• 2008

우리나라는 정부의 전력산업 구조 개편 계획에 따라 2001년부터 전력거래시장을 도입하였고 초기 단계 전력거래시장을 운영하기 위한 "발전경쟁(CBP : Cost Based Pool)시스템"을 국내기술로 개발하였다. 전력산업 구조 개편 잠정중단으로 발전경쟁시장이 장기화되어, 99년도 개발당시 초기단계(2$\sim$3년간)에만 사용할 예정이었던 CBP 시스템이 지속적으로 운영 되어왔다. 발전경쟁시장이 장기화됨에 따라 회원사의 수가 시장 초기 10개사에서 2008년 8월 기준 226개사로 증가하였고, 전력거래량 규모도 13조원에서 21조원으로 확대되었다. 시장의 변화에 파라 전력시장의 운영규칙 또한 여러 차례 개선되었다. IT기술도 급격히 발달하여 이에 따라 CBP 시스템도 변화하여 왔다 본 논문에서는 발전경쟁시장에서 정산시스템의 현재 역할과 기능 및 요구사항을 살펴보기로 한다.