• Environmental and Resource Economics Review
• /
• v.24 no.4
• /
• pp.629-655
• /
• 2015

Nuclear power generation is a major power source which accounts for more than 30% of domestic electricity generation. Electricity market needs to secure stability of base load. This study aimed at analyzing relationships between nuclear power generation and wholesale electricity price (SMP: System Marginal Price) in Korea. For this we conducted ARDL(Autoregressive Distributed Lag) approach and Granger causality test. We found that in terms of total effects nuclear power supply had a positive relationship with SMP while nuclear capacity had a negative relationship with SMP. There is a unidirectional Granger causality from nuclear power supply to SMP while the reverse was not. Nuclear power is closely related to SMP and provides useful information for decision making.

• Proceedings of the KSR Conference
• /
• 2005.05a
• /
• pp.806-812
• /
• 2005

This paper proposes a new reliability evaluation for traction power system. The electric railway consists of traction power systems, various vehicles, operating equipment, track, overhead line and electric equipment. It is a fundamental function of traction power systems that supply customers with reasonable price, acceptable reliability and high quality power. In a general way, the power system reliability deals with the ability to satisfy load demands in supply capability or rating of every factor. On the other hand, the reliability of traction power systems has been focused on train time delay caused by power outage. In this paper, we make a selection optimum reliability indices for the reliability evaluation of electric traction power systems. The reliability study not only applies a plan for traction supply system after detecting the vulnerable point of existing traction supply systems but also makes a role in stable operating railway.

• The Transactions of the Korean Institute of Electrical Engineers P
• /
• v.54 no.4
• /
• pp.192-197
• /
• 2005

This paper presents a development of the auxiliary power supply simulator for a electric rolling stock. An auxiliary power supplies are required for operating air conditioning units, ventilation fans, lighting and battery charging. Traditionally this function has been fulfilled by Motor-Alternator sets. In recent years, high performance of semiconductor and micro processor, availability and price have made three phase voltage source inverters as an attractive alternative to MA Sets. From the baseline model of the SIV(Static InVerter) for electric rolling stock, we designed the scale down model of the auxiliary power supply simulator consisting of an IGBT three phase voltage source inverter. The auxiliary power supply simulator can be used educatory purpose for training efficiently about operating principles of SIV.

• Environmental and Resource Economics Review
• /
• v.33 no.2
• /
• pp.113-133
• /
• 2024

Variable renewable energy (VRE) such as solar and wind power is the main sources of achieving carbon net zero, but it undermines the stability of power supply due to high variability and uncertainty. Energy storage system (ESS) can not only reduce the curtailment of VRE by load shifting but also contribute to stable power system operation by providing ancillary services. This study analyzes how the allocation of ESS resources between load shifting and ancillary service can contribute to maximizing the efficiency of power supply in a situation where the problems caused by VRE are becoming more and more serious. A stochastic power system optimization model that can realistically simulate the variability and uncertainty of VRE was applied. The analysis time point was set to 2023 and 2036, and the optimal resource allocation strategy and benefits of ESS by varying VRE penetration levels were analyzed. The analysis results can be largely summarized into the following three. First, ESS provides excellent functions for both load shifting and ancillary service, and it was confirmed that the higher the reserve price, the more limited the load shifting and focused on providing reserve. Second, the curtailment of VRE can be a effective substitute for the required reserve, and the higher the reserve price level, the higher the curtailment of VRE and the lower the required amount of reserve. Third, if a reasonable reserve offer price reflecting the opportunity cost is applied, ESS can secure economic feasibility in the near future, and the higher the proportion of VRE, the greater the economic feasibility of ESS. This study suggests that cost-effective low-carbon transition in the power system is possible when the price signal is correctly designed so that power supply resources can be efficiently utilized.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
• /
• 2021.10a
• /
• pp.567-569
• /
• 2021

The power battery supply chain in China currently lacks stable cooperation and effective information exchange. The competitive pressure brings about irregular recycling channels, reducing the operation and efficiency of the power battery supply chain. Besides, some regular power battery recycling enterprises fabricate data to obtain subsidies by taking advantage of the loopholes in the relevant policies of the state on recycling subsidies. Due to the high price of recycling in the black market, some regular enterprises resell the batteries recycled through regular channels, later purchasing the batteries with no utilization value to obtain the national recycling subsidies by cheating at the same time. Fig. 3 shows the present network structure of the tradi tional Chinese power battery closed-loop supply chain

• The Journal of Fisheries Business Administration
• /
• v.47 no.4
• /
• pp.65-75
• /
• 2016

The purpose of this study was to analyze the production and marketing control effects of aqua-cultured flounder required for stable income growth of aqua-cultured household. We analyzed the supply and demand structure of cultured flounder using the partial equilibrium model approach. And we estimated the optimal yield of cultured flounder and analyzed the effect of marketing control through constructed model. The main results of this study are summarized as follows. First, the fitness and predictive power of the estimated model showed that the RMSPE and MAPE values were less than 5% and Theil's inequality coefficient was very close to 0 rather than 1. It was evaluated that the prediction ability of the aqua-cultured flounder supply and demand model by dynamic simulation was excellent. Second, dynamic simulation based on policy simulation was conducted to analyze the price increase effect of production and shipment control of cultured flounder. As a result, if the annual production volume is reduced by 1%, 5%, and 10% among 32,852~37,520 tons, it is analyzed that the price increase effect is from 1.2% to 12.5%. Finally, this study suggests that the production and marketing control can increase the price of aqua-cultured flounder in the market. In this paper, we propose a policy implementation of the total supply system instead of conclusions.

• Proceedings of the KIEE Conference
• /
• 2001.07a
• /
• pp.330-332
• /
• 2001

This paper reviews technology for power quality differentiated supply in power system. Since price and power quality has been single goods in the light of customer-side view point but hereafter it is essential for power market to introduce multiple goods which is composed of differentiated combination between them. This paper should like to work out strategy for power quality differentiated supply in domestic power system by comparison characteristics of differentiated background and its relevant various theory.

• Proceedings of the KIEE Conference
• /
• 2000.07a
• /
• pp.379-381
• /
• 2000

In the new electric industry, many of generators and consumers exist in competitive market and electric price is determined by the response of suppliers and consumers. Power supply and consumption make change the electric price and social welfare depends on the elasticity that indicates sensitivity to changes of price related on the electric demand or supply. If elasticity is changed, social welfare that represents the sum of producers and customers surplus will be changed together. This paper investigates the change of the social welfare depending on the elasticity, and presents the propriety of competitive electric 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 Distribution Research
• /
• v.12 no.3
• /
• pp.91-109
• /
• 2007

This paper intends to examine the antecedents to the ex-post supply price cut which is typical retailer's unfair trade practices from three perspectives such as market power, efficiency, and retailer's tendency. For the empirical research, we analyzed manufacturer's 79 key account managers who have traded with domestic discount stores. As a result, the harder a retailer tries to increase sales and margin simultaneously, the more the retailer tends to use the ex-post supply price cut against manufacturers. In addition, the most frequent pattern of ex-post supply price cut occurs after retailer's discount at discretion. Finally, we suggest this research's implications, limitations of this research with future research directions.