• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.617-641
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• 2014

Korean electricity market is a Cost-Based Pool (CBP) designed to minimize electricity production cost through cost by providing cost reduction incentives to generators. Generation companies have shown diverse efforts to reduce costs in CBP market such as procuring low-price fuels, installing high efficiency gas turbine and constructing power plants near the heavy-load site. Recently, as a way to improve CBP market, a proposal to exclude no-load cost from System Marginal Price (SMP) and to compensate generators ex post was suggested to Korea Power Exchange. This study analyzes the impact of excluding no-load cost from SMP on the cost reduction incentive of generators. We found that excluding no-load cost from SMP enhances the likelihood of decreasing the cost reduction incentives of LNG combined-cycle generators lying on the price-setting range.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.19 no.6
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• pp.470-475
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• 2007

The present study has been conducted economic analysis through actual operation of electric heat pump (EHP) and gas engine driven heat pump (GHP) which are installed at the same building in the university. Cost items, such as initial cost, annual energy cost and maintenance cost of each system are considered to analyze life cycle cost (LCC) and economical efficiencies are compared. The initial cost is considered on the basis of actual cost, and annual energy cost is converted into the cost after measuring electricity and gas consumption a day LCC applied present value method is used to assess economical profit of both of them. Variables used to LCC analysis are electricity cost escalation rate, natural gas cost escalation rate, interest rate, and service lives when each of them are 4%, 2%, 8%, and 20 years. The result shows that EHP (148,257,306 won) is more profitable than GHP (161,239,296 won) by 8.05% (12,981,990 won).

• Journal of the Korean housing association
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• v.23 no.6
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• pp.31-38
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• 2012

In this paper, we draws tendency of the electricity consumption in residential buildings according to inhabitants Composition types and the level of incomes. it is necessary to reduce energy cost and keep energy security through the electricity demand forecasting and management technology. Progressive social change such as increases of single household, the aging of society, increases in the income level will replace the existing residential electricity demand pattern. However, Only with conventional methods that using only the energy consumption per-unit area are based on Energy final consumption data can not respond to those social and environmental change. To develop electricity demand estimation model that can cope flexibly to changes in the social and environmental, In this paper researches propensity of electricity consumption according to the type of residents configuration, the level of income. First, we typed form of inhabitants in residential that existed in Korea. after that we calculated hourly electricity consumption for each type through National Time-Use Survey performed at the National Statistical Office with considering overlapping behavior. Household appliances and retention standards according to income level is also considered.

• Proceedings of the KIEE Conference
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• 2000.07a
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• pp.391-393
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• 2000

This paper presents an new algorithm for the economic load dispatch considering the reliability level constraints of composite power system under deregulated electricity market. It is the traditional ELD problem that generation powers have been dispatched In order to minimize total fuel cost subjected to constraints which sum of powers generated must equal the received load and no violating lower and upper limit constraints on generation. Under deregulated electricity market, however, generation powers of a pool have to be reallocated newly in order to satisfy the reliability differentiated level required at a load point because of a reliability differentiated electricity service which is a part of the priority service. In this study, new economic load dispatch algorithm for reallocating the generation powers of a pool in order to satisfy the reliability differentiated level under deregulated competitive electricity market is proposed. The uncertainties of not only generators but also transmission lines are considered fer the reliability evaluation. The characteristics and effectiveness of this methodology are illustrated by the case studies on MRBTS and IEEE-RTS.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.3
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• pp.455-461
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• 2009

This paper proposes Direct Load Control(DLC) operation scheme using a bidding system and the methodology to value proper quantity decided by the DLC program, which is a kind of resources for stabilization of electricity market price during peak times by managing consumer electricity demand. Since DLC program in Korea is based on the contract with the customers participating in this program, it is difficult to anticipate voluntary participation. That is, incentive for participants in DLC program is insufficient. To cope with this point, it is necessary to develop a new market mechanism and market compatible operation scheme for DLC programs. DLC market mechanism is deemed to be equipped with iterative bidding system, independent operation from energy market, and interactive with bidding information on energy market. With this market mechanism, it is important to find the optimal operation point of DLC allowing for the factors of stabilizing the electricity market price and compensating DLC implementation. This paper focuses on the mathematical approaches for the bid-based DLC operation scheme and examines several scenarios for the following technical justifications: 1) stabilization of electricity market price during peak times, 2) elasticity of demand.

• Proceedings of the KIEE Conference
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• 2001.07a
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• pp.386-388
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• 2001

The change of the electricity charge from cost base to price base due to the introduction of the electricity market competition causes consumer to choose a variety of charge schemes and a portion of loads to be affected by this change. Besides, it is required the index that consolidate the price volatility experienced on the power exchange with gaming and strategic bidding by suppliers to increase profits. Therefore, in order to find a mathematical model of the sensitively-responding-to-price loads, the price-sensitive load model is needed. And the development of state-of-the-art technologies affects the electricity price, so the diffusion of high-efficient end-uses and these price affect load patterns. This paper shows the analysis on learning curves algorithms which is used to investigate the correlation of the end-uses' price and load patterns.

• Proceedings of the KIEE Conference
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• 2005.11c
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• pp.14-18
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• 2005

The Reason of collapse accidents, Seongsu bridge Accident in 1994 and Sampung department store Accident in 1995 and so on, that is found out to the shortage construction. Consequently, depending on orderer's self-regulating judgement the meanwhile, Electricity Technique Administration Law in 1995 owes at the public opinion to need the plan of a law system device about the electricity design and supervision and is born. This various issue problem, the combined ordering with Constructing, Electricity, fire-fighting, Information & Communication and so on, field problem, low cost services, the problem about the selection procedure of the design and supervision businessman, the business range between general and specialized, which the system appears as are carried out have been risen. Therefore basic solution plan about this have been desired. We consider a domestic current situation about an electricity design supervision system in this paper, and try to present the plan for healthy upbringing development of the electricity industry through this.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.4
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• pp.700-706
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• 2010

Carbon costs, either in the form of a carbon tax or through permit prices in an emissions trading scheme, would ultimately be reflected in higher electricity prices. This price "pass-through" is very critical to the effective design of new policies to curb the amount of carbon emissions. This paper sets out in a structured way the factors that determine price pass-through and how carbon costs would impact on the electricity market and the existing coal-fired power plants. It is shown that pass-through can vary drastically if the underlying dispatch potential of generators varies significantly across alternative emissions reduction scenarios. It can also vary depending on the availability of competing cleaner forms of generation. Pass-through as a measure of business performance is therefore hard to generalize across different circumstances and should be interpreted carefully.

• New & Renewable Energy
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• v.17 no.2
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• pp.1-8
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• 2021

We estimated the price range of electricity transactions under the prosumer system, considering the spread of renewable energy and the prospect of introducing a surplus power trading system between power consumers in Korea. The range (min/max) of power transaction prices was estimated by prosumers and consumers who could purchase electricity from utilities if needed. It is assumed that utilities purchased electricity from prosumers and consumers under a Time-of-Use (TOU) rate, trading at a monthly price. The range of available transaction prices according to the amount of power purchased from utilities and the amount of transaction power was also estimated. The price range that can be traded is expected to vary depending on variables such as the TOU rate, purchased and surplus power, levelized cost of electricity, etc.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.2
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• pp.88-96
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• 2005

At present, the Korean electricity industry is undergoing restructuring and the Cost Based-generation Pool(CBP) market is being operated preparing for Two Way Bidding Pool(TWBP) market open. As the circumstance of the traditional system is changed according to power system deregulation, the simulation tool which should reflect market code providing market operating mechanism is needed to analyze an electricity market. This paper presents the development of an unique market simulator, Market Modeling and Price Simulator(MMPS) that is designed to imitate the Korean electricity market considering uniform price. The MMPS is developed in VB.NET and is composed of two modules that consist of market modeling and price simulation interfacing access database program. To evidence the features and the performance of MMPS, a small two way bidding market with 12-bus system and one way bidding market for generator competition will be presented for the electricity market simulations using MMPS.