• 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.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.33 no.4
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• pp.278-287
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• 2009

Plug-in hybrid electric vehicle (PHEV) with capability of being recharged from the power-grid will reduce oil consumption. Also, the PHEV will affect the utility operations by adding additional electricity demand for charging. In this research, the power-grid impact by demand of PHEV charging is presented and the optimal charging control strategy for utility operators is proposed with simulated data. The penetration of PHEV is assumed to be 50% in the circumstances of Korean passenger car market and Korean power-grid market limitedly. To obtain smooth load shape and utilize the surplus electricity in power-grid at midnight and dawn, the peak of charging demand should be controlled to be located before 4:00 a.m., and the time slot which can supply the electricity power to PHEV should be allowed between 1:00 a.m.$\sim$7:00 a.m.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.51 no.8
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• pp.403-408
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• 2002

As the electricity industry undergoes a process of fundamental restructuring, horizontal market power appears as a potential obstacle to a fully competitive wholesale electricity market. Market power is the ability profitably to maintain prices above competitive levels by restricting output below competitive levels. In models for imperfect competition under the consideration of the transmission constraints, the Nash equilibrium has the form of a mixed strategy. In this paper, the models for analyzing imperfect competition are compared using the solution of pure and mixed equilibria. The relation between market power and the capacity of a transmission line is investigated by imperfect competition analysis methods: Cournot, Bertrand, and Supply Curve model.

• Journal of Korean Institute of Industrial Engineers
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• v.39 no.6
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• pp.562-576
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• 2013

Power TAC (Power Trading Agent Competition) is an agent-based simulation for competitions between electricity brokering agents on the smart grid. To win the competition, agents obtain electricity from the electricity wholesale market among the power plants. In this operation, a key to success is balancing the demand of the customer and the supply from the plants because any imbalance results in a significant penalty to the brokering agent. Given the bidding on the wholesale market requires the price and the quantity on the electricity, this paper proposes four different price estimation strategies: exponentially moving average, linear regression, fuzzy logic, and support vector regression. Our evaluations with the competition simulation show which strategy is better than which, and which strategy wins in the free-for-all situations. This result is a crucial component in designing an electricity brokering agent in both Power TAC and the real world.

• Journal of Electrical Engineering and Technology
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• v.2 no.1
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• pp.42-49
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• 2007

For electricity markets to function in a truly competitive and efficient manner, it is not enough to focus solely on improving the efficiencies of power supply. To recognize price-responsive load as a reliability resource, the customer must be provided with price signals and an instrument to respond to these signals, preferably automatically. This paper attempts to develop the Windows-based load management system in competitive electricity markets, allowing the user to monitor the current energy consumption or billing information, to analyze the historical data, and to implement the consumption strategy for cost savings with nine possible scenarios adopted. Finally, this modeling framework will serve as a template containing the basic concepts that any load management system should address.

• Asian Journal of Atmospheric Environment
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• v.8 no.1
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• pp.59-68
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• 2014

The Fukushima nuclear accident in 2011 had an extensive impact on the national electricity plans. This paper outlines alternative electricity scenarios that meet the goals of nuclear phase-out and greenhouse gas (GHG) emission reduction. This paper also analyzes the results of each scenario in respect to the electricity mix, GHG emissions, costs and employment effects. The Long-range Energy Alternatives Planning system (LEAP) model was used to simulate the annual electricity demand and supply system from 2011 to 2030. The reference year was 2009. Scenarios are reference (where existing plans are continued), A1, A2, B1, B2, and C2 (where the levels of demand management and nuclear phase-out are different). The share of renewable energy in the electricity mix in 2030 for each scenario will be increased from about 1% in 2009 to 8% in the reference scenario and from 11% to 31% in five alternative scenarios. Total cumulative cost increases up to 14% more than the reference scenario by replacing nuclear power plants with renewable energy in alternative scenarios could be affordable. Deploying enough renewable energy to meet such targets requires a roadmap for electricity price realization, expansion of research, development and deployment for renewable energy technologies, establishment of an organization dedicated to renewable energy, and ambitious targets for renewable energy.

• KIEE International Transactions on Power Engineering
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• v.5A no.4
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• pp.396-402
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• 2005

In an electricity market with imperfect competition, participants devise bidding plans and transaction strategies to maximize their own profits. The market price and the quantity are concerned with the operation reserve as well as the bidding system and demand curves in an electricity market. This paper presents a market model combined by an energy market and an operating reserve market. The competition of the generation producers in the combined market is formulated as a gaming of selecting bid parameters such as intersections and slopes in bid functions. The Nash Equilibrium (NE) is analyzed by using bi-level optimization; maximization of Social Welfare (SW) and maximization of the producers' profits.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.30 no.3
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• pp.39-45
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• 2016

In these days global energy policy is changed from "supply" to "demand". In this regards, there are needs to analysis on effect of policy such as energy efficiency strategy, electricity rates. This study examines the relationship between energy consumption reduced by new energy policy and GDP growth for each industrial sector for Korea from 1970 to 2013. With respect to the direction of causality, energy use of 1th industry like agriculture and mining leads to GDP growth. On the other hand, GDP growth of 2nd industry, manufacturing, leads to energy use. And there is bidirectional causality in 3rd industry, service sector. These findings imply that the government policies aimed at reducing electricity consumptions and increasing energy efficiency should be progressed cautiously depend on status of each industry condition.

• Proceedings of the KIEE Conference
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• 1993.07a
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• pp.45-47
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• 1993

Load Management, is originated from efficiency improvement of energy use, or energy conservaion. Traditionally, electric utilities have constructed new power plants to meet the steadily increasing electricity demand. Power development planning, however, is becoming more difficult in the countries like Korea, Japan, and the United States, and increasing concerns about global environmental problems necessitate changes from existing supply-side options based on fossil-fuel to environmentally agreeable supply strategies. This paper discusses the demand side management strategy with emphasis on the concept, implementation scheme, and current practices employed in utilities.

• Proceedings of the KIEE Conference
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• 2001.11b
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• pp.207-209
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• 2001

Intensive competition in the electricity market and demand for higher quality service force the utilities to change their strategies in setting price and quality combination. As cost-up by homogeneously enhancing the electricity service quality may reduce their competitiveness, differential service is to be taken into consideration. Priority Service, which provides customers with a selection of service options at a range of prices and reliability for all or portions of their loads, has drawn attention from utilities in an increasingly competitive environment. Priority Service is to enlarge service options for customers who have diverse needs for supply reliability. This paper in the light of this point reviews differentiated strategy of power quality in the U.S.A.