• Journal of Energy Engineering
• /
• v.8 no.4
• /
• pp.505-511
• /
• 1999

One of the major challenges confronting a multiservice electric utility is the establishment of the right prices, for its services. The key objectives of particular pricing schemes are reasonableness of company earnings. Economic efficiency, the responsiveness of supply and of the allocation of sources to the desires of consumers, and maintenance of some degree of competition. This paper proposes a value-based pricing mechanism amenable to the current deregulation situation in electricity market allowing service differentiation. The proposed pricing mechanism can be implemented ina nodal auction model, and can also be applied to direct load control.

• Korean System Dynamics Review
• /
• v.6 no.1
• /
• pp.99-123
• /
• 2005

Although the generation market is competitive, the power market is easily exercised the market power by one generator due to its special futures such as a limited supplier, large investment cost, transmission constraints and loss. Specially, as Korea Electric industry restructuring is similar US competitive wholesale electricity market structure which discovered the several evidences of market power abuse, when restructuring is completed the possibility that market power will be exercised is big. Market power interferes with market competitions and efficiency of system. The goal of this study is to investigate the market price effects of the potential market power and the proposed market power mitigation strategy in Korean market using the forecasting wholesale electricity market model. This modeling is developed based on the system dynamics approach. it can analyze the dynamic behaviors of wholesale prices in Korean market. And then it is expanded to include the effect of market condition changed by 'strategic behavior' and 'real time pricing.' This model can generate the overall insights regarding the dynamic impact of output withholding by old gas fire power plant bon as a marginal plant in Korean market at the macro level. Also it will give the energy planner the opportunity to create different scenarios for the future for deregulated wholesales market in Korea.

• Proceedings of the KIEE Conference
• /
• 1999.07c
• /
• pp.1202-1204
• /
• 1999

This paper proposes a value-based pricing suitable for deregulation situation in electricity market, where the value is measured based on the service quality such as system reliability. The proposed approach makes it possible to maximize social welfare, in that diversified service can produce the optimal combination set of demand and supply. The proposed pricing can also be applied to a direct load control.

• Environmental and Resource Economics Review
• /
• v.24 no.1
• /
• pp.225-249
• /
• 2015

There are growing interests in the introduction of consumer's selective electricity tariff systems in order to enhance demand response in electricity market in Korea. Real time pricing (RTP) and Time of Use (TOU) are typical examples of demand response system through which electricity price is linked to real time demand. This paper adopts an agent-based model to analyze the effects of such demand system on the counsumers' electricity costs. The result shows that real time pricing system is effective to reduce electricity costs of consumers by providing more flexible tariff system, depending on each consumer's demand pattern. This finding could be used as a basis for supporting smart grid system in the presence of responsive demand environment.

• Journal of Information Technology Services
• /
• v.11 no.sup
• /
• pp.41-50
• /
• 2012

With the recent advances in smart grid technologies and the increasing dissemination of smart meters, the power usage of each time unit can be detected in modern smart building environments. Thus, the utility company can adopt different price of electricity at each time slot considering the peak time. Korea government also announces the smart-grid roadmap that includes a law for realtime price of electricity. In this paper, we propose an efficient power scheduling scheme for smart buildings that adopt smart meters and real-time pricing of electricity. Our scheme dynamically changes the power mode of each consumer device according to the change of power rates. Specifically, we analyze the electricity demands and prices at each time, and then perform real-time power scheduling of consumer devices based on collaboration of each device. Experimental results show that the proposed scheme reduces the electricity charge of a smart building by up to 36.4%.

• Journal of Electrical Engineering and Technology
• /
• v.8 no.3
• /
• pp.436-445
• /
• 2013

The use of a demand response controller is necessary for electric devices to effectively respond to time varying price signals and to achieve the benefits of cost reduction. This paper describes a new formulation with the form of constrained optimization for designing an optimal demand response controller. It is demonstrated that constrained optimization is a better approach for the demand response controller, in terms of the ambiguity of device operation and the practicality of implementation of the optimal control law. This paper also proposes a design scheme to construct a demand response controller that is useful when a system controller is already adapted or optimized for the system. The design separates the demand response function from the original system control function while leaving the system control law unchanged. The proposed formulation is simulated and compared to the system with simple dynamics. The effects of the constraints, the system characteristics and the electricity price are examined further.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.13 no.6
• /
• pp.2826-2832
• /
• 2012

A smart grid is an electric-power grid that employs a new information technology.This technology makes it possible to exchange real-time energy information between suppliers and consumers, finally resulting in high energy efficiency. The energy management system in smart grid provides up to date information on electricity consumption as well as dynamic electricity price to consumers of smart grid system. However, the existing energy management systems only focus on pricing system, for example, real-time electricity prices. In this paper, we try to improve the existing energy management system and propose the energy management system that mainly focuses on the efficiency of electricity consumption. In the proposed management system, PMU(Phasor Measurement Units) installed in switchboards gathers electricity data in a real time. We also propose to use data mining method, which is applied to analyzed electricity data for improving energy efficiency. Also, the proposed energy management system is designed to efficiently control the electricity between PMU and management system in case of a shortage of electricity or surplus electricity.

• Journal of Energy Engineering
• /
• v.11 no.2
• /
• pp.142-148
• /
• 2002

The variations of real time electric price in competitive electricity markets have influence on electric power demands of the consumers. Residential, commercial, and industrial consumers with different characteristics cause the different price elasticity of the demand due to changing the pattern of consumption. Therefore, this paper analyze the effects of spot pricing for the change of the electric power demand based on the demand elasticity of each loads in competitive electricity market.

• Proceedings of the KIEE Conference
• /
• 2001.07a
• /
• pp.524-526
• /
• 2001

The variations of real time electric price in competitive electricity markets have influence on electric power demands of the consumers. Residential, commercial, and industrial consumers, with different characteristics cause the different price elasticity of the demand due to changing the pattern of consumption. Therefore, this paper calculate the elasticity of each loads and analysis the effects of electric power demands and spot pricing as a function of elasticity in competitive electricity market.

• Journal of Digital Convergence
• /
• v.14 no.7
• /
• pp.193-200
• /
• 2016

Research and development of energy self-consumption introducing photovoltaic and energy storage system at home is very active. This system can manage the home energy in which it charges the electricity generated during the day and uses it during high electricity bills. However, it not yet made up the residential real-time pricing in Korea but it can reduce electricity usage to a certain target on the progressive. In order to introduce the home photovoltaic, it requires PCS(Power Conditioning System). This converts the direct current into alternating current by the electricity generated and used to perform charging and discharging of the energy storage system. The market for self-consumption smart home system is currently increasing because the interests of the general public about solar power, energy storage systems increased. The result of this study is installed on the room environment and the effect was analyzed on the assumption of real-time pricing.