• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.4
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• pp.694-699
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• 2009

Combined cycle plants which feature distinct advantages for power generation such as fast response, high efficiency, environmental friendliness, fuel flexiblity represent the majority of new generating plant installations across the globe. Combined cycle plants have different operating modes where the operating parameters can differ greatly depending which mode is operating at the time. This paper addresses the bidding strategy model of combined cycle plants in a competitive electricity market by using a characteristic of multiple operating modes of combined cycle plants. Simulation results of case studies show that an operating mode among multiple ones is selected strategically in generation bidding for more profit of generation company.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.57 no.7
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• pp.1157-1166
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• 2008

This paper presents a new approach for the evaluation of location marginal prices (LMPs) considering demand-side bidding (DSB) in a competitive electricity market. The stabilization of the electric power supply and demand balance is one of the major important activities in electric power industry. In this paper, we present an analytical method for calculation of LMPs considering DSB, which has opportunity to compete with generating units, as England & Wales Pool's DSB scheme[1]. Also, we propose a new approach that LMP considering DSB is divided into three components. The proposed approach can be used for the evaluation of demand-side bidding into the electricity market and the assessment of the influence of DSB on total production costs and LMPs as well as three components.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.12
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• pp.2143-2149
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• 2010

Market price and curtailment amounts of the Demand Resource Market(DRM) are determined by competition between electricity consumers. An important aspect of the DRM involves the assessment of strategic behavior of participants for maximizing their profits. This paper presents economic equilibrium models for simulating imperfect competition among electricity consumers in the DRM and analyzes the models at Nash Equilibrium of Game Theory. The proposed demand functions and supply functions of DRM are based on the Demand Resource Market Rules in Korean electricity market. Simulation results show that the models are adequate for obtaining Nash Equilibrium of consumers' competitive curtailment.

• Proceedings of the KIEE Conference
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• 2003.07a
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• pp.633-635
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• 2003

Electricity industries throughout the world are undergoing unprecedented changes. As a result, these changes lead to the separation of traditional integrated utilities and the introduction of competition in order that increase efficiency in electricity industry. Direct load control (DLC) system in competitive electricity market has a hierarchical interactive operation system, therefore, its control logic is also applied by bilateral interactive method that interchanges information related to interruptible load between operation hierarchies. Consequently, load curtailment allocation algorithm appropriate for new DLC system is required, and based on interchanged information, this algorithm should be implemented by most efficient way for each operation hierarchy. In this paper, we develop the load curtailment allocation algorithm in an emergency for new DLC system. Especially, the optimal algorithm for load aggregator (LA) that participates in competitive electricity market as a main operator for load management is developed.

• KIEE International Transactions on Power Engineering
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• v.4A no.4
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• pp.243-253
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• 2004

As deregulation evolves, pricing electricity becomes a major issue in the electric power industry. Participants in the competitive marketplace are able to improve their profits substantially by effectively pricing the electricity. In this paper, game theory is applied to analyze price-clearing in the generation bidding competition with the competition modeled as the non-cooperative and complete information game. The result of this analysis can be useful in understanding spot price-clearing of electricity as well as GENCOs' strategic behavior in the competitive electricity market.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.8
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• pp.466-471
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• 2004

Electricity industries throughout the world are undergoing unprecedented changes. As a result, these changes lead to the separation of traditional integrated utilities and the introduction of competition in order that increase efficiency in electricity industry. Direct load control (DLC) system in competitive electricity market has a hierarchical interactive operation system, therefore, its control logic is also applied by bilateral interactive method that interchanges information related to interruptible load between operation hierarchies. Consequently, load curtailment allocation algorithm appropriate for new DLC system is required, and based on interchanged information, this algorithm should be implemented by most efficient way for each operation hierarchy. In this paper, we develop the load curtailment allocation algorithm in an emergency for new DLC system. Especially, the optimal algorithm for load aggregator (LA) that participates in competitive electricity market as a main operator for load management is developed.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.56 no.2
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• pp.268-276
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• 2007

Transmission congestion is one of the key factors to local market power in competitive electricity markets. Financial transmission rights provide the financial protection to their holders by paying back the congestion rent. A variety researches have shown that the existing trading mechanisms on transmission right can exacerbate market power. This paper proposes an alternative methodology in mitigating the local market power using the Contingent Transmission Rights on the locational marginal pricing scheme. The proposed methodology was demonstrated with the Optimal Power Flow.

• Proceedings of the KIEE Conference
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• 2005.07a
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• pp.801-803
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• 2005

Fundamentally, success of the competitive electricity market is dependent on efficient market design. However, since electricity incorporates various physical constraints as other commodities, the resource assignment (i.e., dispatch scheduling) is also one of requisites for the successful operation of electricity market. Therefore, efficient dispatch scheduling is an important issue to succeed in the deregulated electricity market and the efficiency of this electricity market may be considerably increased by systematic studies on dispatch scheduling algorithm and corresponding constraints, especially system security. Moreover, contrary to traditional vertically-integrated electric power industry condition, since various decision-makings in deregulated electricity market are directly connected with market participants' benefits, only rational dispatch scheduling algorithm can convince these participants. Therefore, it can provide a basis of grievance prevention. In this paper, we propose an algorithm for security constrained dispatch scheduling with respect to load curtailment. Proposed algorithm decomposes the dispatch problem into a master problem corresponding to basecase optimal power flow (OPF) and several subproblems corresponding a series of contingencies using two-stage optimization technique.

• 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.

• Proceedings of the KIEE Conference
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• 2000.07a
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• pp.289-291
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• 2000

In a competitive electricity power market, the price of electricity changes instantly, that of conventional market is predetermined and hardly changes. In such a new environment, customers' behaviors change instantly according to the changing electricity prices. If we develop a electricity load model that well describes the behavior of electricity consumers, we can utilize that model in forecasting the amount of future load, solving the load flow problem and finding the weak point of the system. In this paper new electricity model that considers the price of electricity and power factor of the load is presented. While conventional load model, which is demand function of electricity, uses the price of real and reactive power as the independent variable of the demand function. this new load model uses price of real power and penalty factor according to the power factor for the calculation of amount of electricity demand.