• Proceedings of the KIEE Conference
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• 2005.11b
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• pp.168-170
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• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium

• Environmental and Resource Economics Review
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• v.31 no.1
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• pp.85-112
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• 2022

This study analyzed the influence of domestic and Chinese factors on fine dust(PM10 & PM2.5) in Korea by using the panel quantile regression. Daily analysis was conducted for 11 regions in Korea. For domestic factors, electricity demand and traffic volume, and for Chinese factors, interaction term of Chinese three cities' fine dust and the domestic west wind are used. As a result, the influence of domestic factors was different when the domestic fine dust concentration was high and low. When the fine dust concentration was low, electricity demand had a positive effect only on PM2.5, and didn't affect PM10 in the national analysis. In regional analysis, the amount of electricity demand had a significant effect on fine dust and ultrafine dust only in the capital area and Chungcheong. Electricity demand was found to significantly increase both PM2.5 and PM10 when it was high. On the other hand, it was confirmed that the Chinese factor always had a significant effect regardless of the concentration of PM10 and PM2.5. Therefore, in order to solve the problem of high concentration of fine dust, in addition to international cooperation, the reduction of PM2.5 generated by domestic thermal power generation should also be strengthened compared to the present.

• The Korean Journal of Applied Statistics
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• v.29 no.1
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• pp.193-203
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• 2016

This paper forecasts electricity demand as a critical element of a demand management system in Smart Grid environment. We present a prediction method of using a combination of predictive values by time series clustering. Periodogram-based normalized clustering, predictive analysis clustering and dynamic time warping (DTW) clustering are proposed for time series clustering methods. Double Seasonal Holt-Winters (DSHW), Trigonometric, Box-Cox transform, ARMA errors, Trend and Seasonal components (TBATS), Fractional ARIMA (FARIMA) are used for demand forecasting based on clustering. Results show that the time series clustering method provides a better performances than the method using total amount of electricity demand in terms of the Mean Absolute Percentage Error (MAPE).

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.23 no.9
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• pp.633-638
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• 2011

Increasing demand for comfortable indoor environment and air-conditioning demand is also increasing. Building energy consumption in university which is made up of many different kinds factor was researched. Central control air-conditioning systems are being replaced with individually controlled air-conditioning system. The amount of growth of electricity consumption is due to the increasing demand of EHP. Conversely, the demand for absorption chiller-heater is shrinking. Winter and in summer a lot of electricity and gas usage. On the other hand, showed less energy in spring and autumn. Increase the amount of electricity than the degree of decline in gas consumption was higher. Can be considered as transitional phenomena. Because EHP and the absorption chiller-heater are used at the same time in some of the buildings. To use energy efficiently is needed additional research about environmental impact, economic evaluation.

• Environmental and Resource Economics Review
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• v.23 no.1
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• pp.43-65
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• 2014

In this paper, we test for allocative efficiency of productive inputs including electricity and measure the divergence between the actual and optimal level of electricity for the chemical products, which is a relatively highly electricity-intensive sector in Korean manufacturing industries, by estimating a shadow cost function. Supposing cost minimization subject to market prices was achieved, we derive the price elasticities of demand for each input and simulate the impact of a 10% increase in power rate on its demand and supply price by estimating jointly a cost function with an inverse supply relation. The null hypothesis of allocative efficiency of inputs is rejected over the period 1982-2006. On average, electricity is used more than optimal level by 98% per year. The demand for electricity decreases by 11.4%, and supply price, on average, falls by 0.08%, other things being equal.

• Journal of Digital Convergence
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• v.11 no.11
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• pp.767-774
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• 2013

The electricity demand and supply could be off balance if several electric vehicles(EVs) were charged at the same time or at peak load times. Therefore, smart grids are necessary to flatten the EVs' electricity demand and to enable EVs to be used as distributed storage devices as electricity demand from EV-charging increases. There are still few quantitative studies on the impact of smart grids on managing EVs' electrical loads. In this study, we analyzed the quantitative impact of smart grids on managing EVs' electrical loads and suggested policy implications. As a result, it is identified that smart grids can manage effectively EVs' impact on electrical grids. The electricity market structure and regulatory framework should support the demonstration and commercialization of smart grid technologies.

• The Transactions of the Korean Institute of Electrical Engineers P
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• v.65 no.2
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• pp.94-100
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• 2016

A virtual power plant (VPP) technology is a cluster of distributed generation installations. VPP system is that integrates several types of distributed generation sources, so as to give a reliable overall power supply. Virtual power plant systems play a key role in the smart grids concept and the move towards alternative sources of energy. They ensure improved integration of the renewable energy generation into the grids and the electricity market. VPPs not only deal with the supply side, but also help manage demand and ensure reliability of grid functions through demand response (DR) and other load shifting approaches in real time. In this paper, utilizing a variety of distributed generation resources(such as emergency generator, commercial generator, energy storage device), activation scheme of the virtual power plant technology. In addition, through the analysis of the domestic electricity market, it describes a scheme that can be a virtual power plant to participate in electricity market. It attempts to derive the policy support recommendation in order to obtain the basics to the prepared in position of power generation companies for the commercialization of virtual power plant.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.55 no.3
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• pp.128-132
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• 2006

Interstate electric power system, as an alternative for energy cooperation under regional economic bloc, has been hotly debated before progressing the restructure in electric power industry and rapidly expanded in many regions after 1990s. Especially, since northeast asia has strong supplementation in resource, load shape, fuel mix etc., electric power system interconnection in this region may bring considerable economic benefits. Moreover, since Korean electric power system has a great difficulty in a geographical condition to interrupt electricity transaction with other countries, it has been expanded as an independent system to supply all demand domestically. As a result, Korean electric power system makes considerable payment for maintaining system security and reliability and expands costly facilities to supply a temporary summer peak demand. Under this inefficiency, if there are electricity transactions with Russia via the North Korea route then economic electric power system operation nay be achieved using seasonal and hourly differences in electricity price and/or load pattern among these countries. In this paper, we estimate price cap of transacted electricity via interstate electric power system in northeast asia. For this study, we perform quantitative economic analysis on various system interconnection scenarios.

• Environmental and Resource Economics Review
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• v.19 no.2
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• pp.243-282
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• 2010

In this paper, we analyze the components and trends of carbon emissions using the Logarithmic Mean Divisia Index decomposition method in Korean electricity industry during the period 1991~2007. In the demand side, carbon emissions are affected by electricity intensity and structural shift and especially electricity intensity is identified as the major factor which has lead carbon emissions decreasing. In the supply side, the result in variations of carbon emission for electric power generation depends on the influences of fossil fuel mix, fuel intensity, generation mix and so on. As a result fuel intensity is the most negative effect on both carbon emission intensity and the amount of carbon emission while the change of generation mix has a positive effect on increasing carbon emissions. And to conclude it needs to make the strategic policies to improve electricity intensity in the demand and to rise emission efficiency as well as to substitute thermal power generation in supply side.

• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.583-615
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• 2014

Including the rolling black out in 2011, Korea has suffered from rapid increase of electricity consumption and demand forecasting failure for last five years. In addition, because of the Fukushima disaster, high fuel prices, and introduction of new generation sources such as renewables, the uncertainty on a power supply strategy increases. Consequently, a stable power supply becomes the new agenda and a revisino of strategy for new power generation sources is needed. In the light of this, we appraises the sixth basic plan for long term electricity demand and supply considering the changes of foreign and domestic conditions. We also simulate a strategy for the new power generation sources using a portfolio analysis method. As results, a diversity of power generation sources will increase and the share of renewable power generation will be surged on the assumptions of a cost reduction of renewable power sources and an increase of fuel costs. Particularly, on the range of a risk level(standard deviation) from 0.06 and 0.09, the efficient frontier has the most various power sources. Besides, the existing power plan is not efficient so that an improvement is needed. Lastly, the development of an electricity storage system and energy management system is necessary to make a stable and efficient power supply condition.