• Korean System Dynamics Review
• /
• v.4 no.1
• /
• pp.33-53
• /
• 2003

How to maintain the optimal electric power generation mix is one of the important problems in electric power industry. The objective of this study is to develop a computer model which can be used to forecast the investment in power generation unit by the plant owners after restructuring of electric power industry. Restructuring of electric power industry will make difference in decision making process of investment in power generation unit. After Privatiazation of Power Industry, Gencos will think that profit is the most important factor among all others attracting the investment in the industry. Coal power generation is better than LNG CCGT in terms of profit. However, many studies show that LNG CCGT will be main electric power generation source because the rest of factors other than profit in LNG CCGT are superior than Coal power generation. Because the nst of factors other than profit in LNG CCGT are superior than Coal power generation. The impacts of the various government policies can be analyzed using the computer model, thus the government can formulate effective policies for achieving the desired electric power generation mix.

• IE interfaces
• /
• v.17 no.3
• /
• pp.269-281
• /
• 2004

How to maintain the optimal electric power generation mix is one of the important problems in electric power industry. The objective of this study is to develop a computer model which can be used to forecast the investment in power generation unit by the plant owners after restructuring of electric power industry. Restructuring of electric power industry will make difference in decision making process of investment in power generation unit. After Privatiazation of Power Industry, Gencos will think that profit is the most important factor among all others attracting the investment in the industry. Coal power generation is better than LNG CCGT in terms of profit. However, many studies show that LNG CCGT will be main electric power generation source because the rest of factors other than profit in LNG CCGT are superior than Coal power generation. The impacts of the various government policies can be analyzed using the computer model, thus the government can formulate effective policies for achieving the desired electric power generation mix.

• Proceedings of the KIEE Conference
• /
• 2000.07a
• /
• pp.334-336
• /
• 2000

In Korea, the CCGTs have been installed to about 25% of the total generating capacity. Generally CCGTs determine the System Marginal Prices(SMP) in Cost Based Generation Pool. So the scheduling of CCGTs is very important in daily generation scheduling. This paper describes the scheduling of CCGTs which considers the operating characteristics of them. We use lagrangian relaxation method which decomposes the unit committment problem into the subproblems of the individual unit. In the CCGT subproblem, we define the cost function of CCGT in two way. In Case study, the daily generation scheduling is performed using the data of Korean thermal system.

• The Transactions of The Korean Institute of Electrical Engineers
• /
• v.67 no.2
• /
• pp.179-185
• /
• 2018

A considerable cost gap between three major power generation technologies, namely nuclear, coal, and combined cycle gas turbine (CCGT), has been a well-established fact in the Korean electricity market. Alternatively, this paper analyzes the levelized costs of electricity (LCOE) of the three technologies reflecting overall social costs of electricity generation including accident risk, $CO_2$ emission, and air pollution damage. The paper unveils to what extent current discriminative subsidies on fuels regarding the social costs, mostly through tax exemptions, affect economic competitiveness of the technologies. In particular, it finds relative positions of coal and CCGT could be altered depending on appreciation level of the social costs. It has limits in analyzing fixed costs of the technologies, however, due to limited data availability of nuclear power, and suggests further studies on the issue.

• The Transactions of The Korean Institute of Electrical Engineers
• /
• v.66 no.8
• /
• pp.1172-1180
• /
• 2017

This study analyzed competition in peak load plants between CCGT and GT instead of competition between base and peak load plants like in previous studies. In common overseas power markets, CCGT and GT claim certain market shares as peak load plants with the latter boasting a high utilization rate as reserve plants. In South Korea, however, there has been no introduction of GT in the market that opened in 2001 with no analysis cases of GT's economy as a peak load plant. The current power market of South Korea is run on the cost-based pool, which allows for no price spikes. Since the capacity payment criteria for compensations for missing money are set based on GT generators, the power market uses GT generators as marginal plants. The purposes of this study were to analyze the competitive edge of GT generators as peak load plants in the domestic power market of South Korea and identify the causes of GT's failure in market entry, thus assessing the adequacy of market signals in the domestic power market.

• Korean System Dynamics Review
• /
• v.2 no.2
• /
• pp.25-40
• /
• 2001

This paper describes the forecast of power plant construction in a competitive korean electricity market. In Korea, KEPCO (Korea Electric Power Corporation, fully controlled by government) was responsible for from the production of the electricity to the sale of electricity to customer. However, the generation part is separated from KEPCO and six generation companies were established for whole sale competition from April 1st, 2001. The generation companies consist of five fossil power companies and one nuclear power company in Korea at present time. Fossil power companies are scheduled to be sold to private companies including foreign investors. Nuclear power company is owned and controlled by government. The competition in generation market will start from 2003. ISO (Independence System Operator will purchase the electricity from the power exchange market. The market price is determined by the SMP(System Marginal Price) which is decided by the balance between demand and supply of electricity in power exchange market. Under this uncertain circumstance, the energy policy planners such as government are interested to the construction of the power plant in the future. These interests are accelerated due to the recent shortage of electricity supply in California. In the competitive market, investors are no longer interested in the investment for the capital intensive, long lead time generating technologies such as nuclear and coal plants. Large unclear and coal plants were no longer the top choices. Instead, investors in the competitive market are interested in smaller, more efficient, cheaper, cleaner technologies such as CCGT(Combined Cycle Gas Turbine). Electricity is treated as commodity in the competitive market. The investors behavior in the commodity market shows that the new investment decision is made when the market price exceeds the sum of capital cost and variable cost of the new facility and the existing facility utilization depends on the marginal cost of the facility. This investors behavior can be applied to the new investments for the power plant. Under these postulations, there is the potential for power plant construction to appear in waves causing alternating periods of over and under supply of electricity like commodity production or real estate production. A computer model was developed to sturdy the possibility that construction will appear in waves of boom and bust in Korean electricity market. This model was constructed using System Dynamics method pioneered by Forrester(MIT, 1961) and explained in recent text by Sternman (Business Dynamics, MIT, 2000) and the recent work by Andrew Ford(Energy Policy, 1999). This model was designed based on the Energy Policy results(Ford, 1999) with parameters for loads and resources in Korea. This Korea Market Model was developed and tested in a small scale project to demonstrate the usefulness of the System Dynamics approach. Korea electricity market is isolated and not allowed to import electricity from outsides. In this model, the base load such as unclear and large coal power plant are assumed to be user specified investment and only CCGT is selected for new investment by investors in the market. This model may be used to learn if government investment in new unclear plants could compensate for the unstable actions of private developers. This model can be used to test the policy focused on the role of unclear investments over time. This model also can be used to test whether the future power plant construction can meet the government targets for the mix of generating resources and to test whether to maintain stable price in the spot market.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.37 no.3
• /
• pp.135-150
• /
• 2012

This paper presents a portfolio model for a long-term power generation mix problem. The proposed portfolio model evaluates generation mix by considering the tradeoffs between the expected cost for power generation and its variability. Unlike conventional portfolio models measuring variance, we introduce Conditional Value-at-Risk (CVaR) in designing the variability with aims to considering events that are enormously expensive but are rare such as nuclear power plant accidents. Further, we consider uncertainties associated with future electricity demand, fuel prices and their correlations, and capital costs for power plant investments. To obtain an objective generation by each energy source, we employ the sample average approximation method that approximates the stochastic objective function by taking the average of large sample values so that provides asymptotic convergence of optimal solutions. In addition, the method includes Monte Carlo simulation techniques in generating random samples from multivariate distributions. Applications of the proposed model and method are demonstrated through a case study of an electricity industry with nuclear, coal, oil (OCGT), and LNG (CCGT) in South Korea.

• Animal cells and systems
• /
• v.5 no.4
• /
• pp.333-339
• /
• 2001

Common carp (Cyprinus carpio) and its aquaculture breed Israeli carp samples were obtained from two separate aquaculture facilities under the similar raising conditions during two years in the Kunsan National University, Korea. Genomic DNA was isolated from the common carp and Israeli carp for identification of genetic characteristics and genomic polymorphisms by polymerase chain reaction amplification of DNA using arbitrary primers. The arbitrary primer No.21 (ACTTCGCCAC) yielded the highest number of fragments with the average of 15.0 among the primers used in Israeli carp. A tota1 of 294 polymorphic products in common carp and 336 in Israeli carp were observed by random primers. The average number of polymorphic products generated by random RAPD primer No. 2 (GTAGAC-CCGT) showed 8.0 in Israeli carp. On average, each random RAPD primer produced 5.4 amplified polymorphic products in common carp and 6.2 in Israeli carp. An average genetic similarity (BS value) was 0.44$\pm$0.05 within the common carp and 0.32$\pm$0.04 within the Israeli carp. The degree of similarity frequency (BS) between two carps was 0.67 as generated by the primer No. 19 (GACGGATCAG). The average level of bandsharing was 0.57$\pm$0.03 between the two carps. Accordingly, the two carp populations were genetically a little distant. The electrophoretic analysis of PCR-RAPD products showed middle levels of variation between the two carp populations. This result implies that the genetic diversity among intra-population may be higher when compared with that between the two carps. The RAPD polymorphism generated by these random primers might be used as a genetic marker for populations or lines identification in important aquacultural carp.

• Journal of Energy Engineering
• /
• v.29 no.1
• /
• pp.13-24
• /
• 2020

Many countries are actively engaging in the reduction of greenhouse gas emissions, and as part of this effort, gradually reducing the portion of coal power generation and instead increasing the portion of power generations from renewable energy sources and natural gas. Korea is taking a similar policy to expand LNG power generation for the next decade. There is a concern, though, about the policy not being aligned with the domestic industry development, since only a few products are being made in Korea along the LNG power generation industry value chain. Therefore in this paper, we first looked at the current status of the gas turbine and high temperature parts industry used for LNG power generation in Korea, and then looked into the industrial issues and challenges through the analysis of supply chains of the domestic gas turbine industry. Finally, we tried to propose strategies to revitalize and localize the domestic gas turbine and high temperature parts industry. The proposed strategies can be summarized as 1) creation of domestic gas turbine manufacturing ecosystem via construction of gas turbine alliance, 2) strategic R&D support for localization of gas turbine and high temperature parts, and 3) provision of domestic testbeds for technology evaluation and commercialization.