• Nuclear Engineering and Technology
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• v.56 no.8
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• pp.3369-3377
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• 2024

As the realization of carbon neutrality has been a main assignment for coping with the global climate change, it became necessary to analyze upcoming changes in electricity mix with economic and technical viewpoints. This paper presents a newly-developed simulation model that reflects the daily intermittency of renewable energy by applying daily average power supply-demand patterns for each season. Also, the paper provides an economic analysis in the viewpoint of investment cost, annual cost and power generation cost by utilizing the calculations from the simulation model. Four scenarios are selected for the analyses, one based on the Korean Government's 2050 Carbon Neutrality Scenario and three Nuclear Power Build-up scenarios, which are newly suggested by the authors. The simulation results show that the increase of nuclear energy from 5.7% of Government's Scenario to 37.7% of the proposed Nuclear Power Build-up Scenario leads to the decrease of about 704 billion US$ in investment cost and about 181 billion US$ in annual cost; with reduction in the increase of 2050 expected generation cost from 3.1 to 1.6 times compared with the referenced 2021 average cost. Further, this study has significance in performing the economic analysis with the expected daily power supply-demand patterns in 2050.

• 한국신재생에너지학회:학술대회논문집
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• 2008.05a
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• pp.87-90
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• 2008

Levelized generation cost(LGC) has been widely used in assessing feed-in tariffs(FiT) for electricity generating from new and renewable energies. Current FiTs for renewable electricity in Korea have been fixed and applied with realistic economic data by the efforts of KERI(Korea Electrotechnology Research Institute) since October 2006. Some critical issues on the estimation of LGC are, however, found in KERI's report. Major issues are the estimation of capital cost, the consideration of corporate tax, and the application of economic life cycle in the formulae for LGC. These critical issues are examined and interpreted in a correct way in this paper.

• Proceedings of the KIEE Conference
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• 2011.07a
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• pp.686-687
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• 2011

In this paper, the method on calculating benefits of combined heat and power is introduced for standard evaluation in electrical power system. This paper calculates benefits about new national viewpoint and viewpoint of independent power producers and assesses benefits of combined heat and power in Korea and In Seoul national capital area. Benefit costs are composed of avoid cost of centralized generation, line upgrading adjustment, loss adjustment and electrical power trade cost per year in earlier study, in addition trade cost of CO2, construction cost of combined heat and power for accurate calculation. Benefit of combined heat and power is calculated by simulation results of real electrical power system.

• Proceedings of the KIEE Conference
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• 2000.11a
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• pp.82-84
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• 2000

This paper deals with a evaluation algorithm of interruption cost in distribution systems in the case where Dispersed Storage and Generation (DSG) systems are interconnected with the distribution systems. If DSG systems are operated as the function of the load levelling in distribution systems at the normal conditions and as the uninterruptible power supply in fault areas at the emergency conditions, the reliability improvement of the distribution systems can be expected. In other words, the benefit can be represented by the cost avoiding interruption according to the operation of DSG systems when a fault is occurred. Therefore, this paper presents the evaluation algorithm for interruption cost in order to evaluate the benefit for the uninterruptible power supply of DSG systems in a quantitative manner.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.19 no.1
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• pp.40-43
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• 2005

This paper presents the minimization of the fuel cost by optimal allocation of P-Q generation in a three-bus sample system. Derivation of the system loss sensitivities by optimization technique is introduced. The loss sensitivities are substituted into the optimality conditions and the optimal P-Q allocation is computed to obtain the minimal fuel cost.

• Journal of Electrical Engineering and information Science
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• v.2 no.6
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• pp.43-47
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• 1997

A procedure presented in this paper generates test sequences to check the conformity of an implementation with a protocol specification, which is modeled as a deterministic finite state machine (FSM). Given a FSM, a common procedure of test sequence generation, first, constructs a directed graph which edges include the state check after each transition, and produces a symmetric graph G* from and, finally, finds a Euler tour of G*. We propose a technique to determine a minimum-cost tour of the transition graph of the FSM. The proposed technique using Multiple Unique State Signature (MUSS) solves an open issue that one MUIO sequence assignment may lead to two more edges of unit cost being replicated to from G* while an optimal assignment may lead to the replication of a single edge of high cost. In this paper, randomly generated FSMs have been studied as test cases. The result shows that the proposed technique saves the cost 4∼28% and 2∼21% over the previous approach using MUIO and MUSP, respectively.

• Proceedings of the KIEE Conference
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• summer
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• pp.348-350
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• 2004

This paper presents the scheme for reliability improvement by dispersed generation system (US) installation and operation in distribution systems. The objective functions such as power losses cost, operation cost of DGS, power buy cost and interruption cost are minimized for reliability improvement. The original objective functions and constraints are transformed into the equivalent multiple objective functions with fuzzy sets to evaluate their imprecise nature. The several indices for reliability evaluation are improved by dispersed generation system installation.

• Journal of Energy Engineering
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• v.11 no.1
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• pp.59-66
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• 2002

The vertically integrated power industry was divided into six generation companies and one market operator, where electricity trading was launched at power exchange. In this environment, the profits of each generation companies are guaranteed according to utilizing strategies of their own generation equipments. This paper presents on generator maintenance scheduling and efficient bidding strategies for generation equipments through the calculation of the contract and the application of each generator cost function based on the past demand forecasting error and market operating data.

• Proceedings of the KIEE Conference
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• 1996.07b
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• pp.878-882
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• 1996

This paper discusses the definition and concepts, approach methodologies, capable application areas in electricity business, and tentative calculation of avoided generation costs based on the Korea's official long-term generation expansion plan. The objective to evaluate avoided costs of a resource is to supply decision makers with the breakeven cost of a targeting avoided resource. For the evaluation of avoided costs of the Korea's generation system, we consider the pseudo-DSM option which has 1,000MW peak savings, load factor with 70 percent, and life-time With 25 years as the avoided resource. The DSM resource can save the fuel and capacity additions of a electric utility during its life time. The capacity and fuel savings are evaluated from the two different cashflows with and Without the DSM option, which are generated on the basis of the generation system optimization model(WASP-II), independently. The breakeven kWh costs of the DSM option over this 25-year period is projected to be 34.1[won/kWh], which is composed of generation-capacity and fuel avoided costs with 101.139[won/kW] and 17.6[won/kWh], respectively.

• Environmental and Resource Economics Review
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• v.23 no.3
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• pp.497-513
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• 2014

Rate-of-return regulation where a regulator compensates the utilities based upon the cost incurred the regulated companies have the incentive to over-report cost level. However, in case of cost-based competition where a regulator knows the cost of each plant involved and induce the competition among them, one can encounter prisoner's dilemma situation in the short run where the regulated firms under-report cost level. For instance, in case of cost-based pool, a generator may have a strategic behavior to keep its registered variable cost higher than the actual level to maintain its operation rate and generation amounts higher. Eventually, however, such behavior decrease the profitability of a generator and discourage new entry jeopardizing required level of capacity reserves. This is a typical Prisoner's Dilemma situation. The power market operating rule should be revised so that generators' registered variable cost reflect actual level of variable cost.