• 한국시스템다이내믹스연구
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• 제6권1호
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• pp.99-123
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• 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.

• Journal of Electrical Engineering and Technology
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• 제12권6호
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• pp.2196-2207
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• 2017

This paper presents a two-stage market auction model in a pool-based electricity market, which explicitly takes into account the system network security. The security network-constrained market auction model considers the use of corrective control to yield economically efficient actions in the post-contingency state, while ensuring a certain security level. Under this framework, the proposed model shows not only for quantifying the correlation between secure system operation and efficient market operation, but also for providing transparent information on the pricing system security for market participants. The two-stage market auction procedure is formulated using Benders decomposition (BD). In the first stage, the market participants bid in the market for maximizing their profit, and the independent system operator (ISO) clears the market based on social welfare maximization. System network constraints incorporating post-contingency control actions are described in the second stage of the market auction procedure. The market solutions, along with the BD, yield nodal spot prices (NSPs) and nodal congestion prices (NCPs) as byproducts of the proposed two-stage market auction model. Two benchmark systems are used to test and demonstrate the effectiveness of the proposed model.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2004년도 추계학술대회 논문집 전력기술부문
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• pp.97-100
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• 2004

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 Electricity Market Price Simulator for short term(EMPS) that is designed to imitate the Korean electricity market. The EMPS is developed in VB.NET and is composed if three functions that consist of calculating SMP for CBP market, MCP for TWBF market and LMP for LMP-market. To evidence the features and the performance of EMPS, a small two way bidding market with 12-bus system, one way bidding market for generator competition and LMP market with 5-bus system will be presented for the electricity market simulations using EMPS.

• 수산경영론집
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• 제45권1호
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• pp.79-93
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• 2014

The Act on Distribution and Price Stabilization of Agricultural and Fisheries Product, which specifies rules and regulations on the trading system of fishery products wholesales markets, has been revised several times, mainly in order to improve the trading system. However, there is still a huge gap between the reality and law when it comes to the trading system of the fishery products wholesale market. This study aims to analyze the problems of the trading system of the fishery products wholesale market and to suggest ways to make improvement. The main problem facing the trading system of the fishery products wholesale market is sales on consignment by intermediate wholesalers, and this paper suggests two alternatives to solve the problem. First, intermediate wholesaler can be converted to market wholesalers, but it also entails other problems. The market wholesaler system has never been successfully adopted in the agricultural and fishery products wholesale market, and it is not clear which system is better between the wholesale market corporation and the market wholesaler system. Second, sales on consignment by intermediate wholesalers can be adopted with a positive view toward it. Negotiation transaction can be carried out for sales on consignment as a transaction method under the current Act on Distribution and Price Stabilization of Agricultural and Fisheries Products. However, since the act cannot provide a solution for listing, it is necessary to introduce Japan's negotiated transaction in advance system as a negotiation transaction method.

• 한국산업융합학회 논문집
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• 제7권1호
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• pp.121-127
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• 2004

This paper is to give some hints to solve the problems of the Korean The third Market suffering from the extreme shortage of the liquidity. To solve that problem, this paper mainly compare the liquidity indices of the Third Market with that of the Japanese third market, that is Mothers. The main liqudity indices of the Mothers shows better than that of the Korean Third Market redardless of the small numbers of the listed Firms. The main differences in the liquidity levels between two markets is to caused by the trading system. The Korean Third Market has been adapting the one-to-one trading system which most stock markets of the world gave up that system owing to the inefficiency. This paper shows the proper trading system for the Third Market is competitve trading system partialy combined with the market maker system beacause of the small firm characterristics.

• 대한전기학회논문지:전력기술부문A
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• 제52권10호
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• pp.616-623
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• 2003

Competition among electric generation companies is a major goal of restructuring in the electricity industry, The trading system in an electricity market has been one of the most important issues in deregulated electricity market. This paper deals with comparisons of the major two types of the trading system: compulsory pool market and bilateral contract market. The two trading systems are compared quantitatively from the viewpoint of consumer's surplus and social welfare, This paper, also, proposes a unified model of Cournot and Bertrand for analyzing the mixed trading system of pool market and bilateral contract market. Nash equilibrium of the unified model is derived by criteria for participating in bilateral contract market. Numerical results from a sample case show that a mixed trading system of pool market and price-competitive bilateral market is beneficial to consumer from the view points of consumer's surplus.

• 한국시스템다이내믹스연구
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• 제6권2호
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• pp.95-116
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• 2005

The purpose of this study is to analyze the structure of renewable energy market in order to deploy more renewable energy in Korea on the basis of information asymmetry between suppliers and demanders. To attain this purpose we develop the model to analyze and simulate the renewable market using system dynamics. This model is developed not to forecast the accurate size of market but to learn more structure of market using our limited data, mental model and knowledge of market.

• 유통과학연구
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• 제18권5호
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• pp.99-109
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• 2020

Purpose: This study aims to develop and empirically analyze a research model in order to comprehend the relationship among the service quality of market-wholesaler system, re-transaction intention, and recommendation intention of forwarder. Further, we suggest new six factors reflecting the service quality of market-wholesaler system and highlight market expansion of forwarder as a mechanism in the relationship. Research design, data and methodology: The authors developed the new scales measuring the service quality of market-wholesaler system (i.e. trade price, price fluctuation, payment receipt, settlement period, trade information, and customer service) and conducted a cross-sectional survey for 439 forwarders in a wholesale market. And then we performed a series of path analyses to test hypotheses. The hypotheses are as follows. [H1] The service quality of market-wholesaler system will positively affect forwarders' market expansion, [H2] Forwarders' market expansion will positively affect their re-transaction intention, [H3] Forwarders' market expansion will positively affect their recommendation intention, [H4] Forwarders' re-transaction intention will positively affect their recommendation intention. Results: The results showed that all the six factors for the service quality of market-wholesaler system were positively related to market expansion of forwarders. There was a differential effectiveness in the six factors of the service quality. More specifically, the positive effect of customer service factor was the strongest on market expansion of forwarders. And the respective effects of trade price, price fluctuation, settlement period, trade information factors were followed in order. The positive effect of payment receipt factor was the weakest on market expansion of forwarders. Also, market expansion of forwarders was positively related to their re-transaction intention and recommendation intention. Furthermore, market expansion of forwarders was indirectly related to recommendation intention through re-transaction intention as well. Conclusions: The research findings provide important theoretical and practical implications. This study is the first to attempt to test the perception of forwarders for the service quality of market-wholesaler system by developing and using the new scales. Also, there has been a sharp controversy about the effectiveness of market-wholesaler system. The findings support that market-wholesaler system would be activated by empirically verifying the effectiveness of the service quality on the various outcomes.

• 지능정보연구
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• 제14권2호
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• pp.103-119
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• 2008

재래시장은 서민적 성격이 강한 유통 시장으로 인터넷 유통 채널의 등장 및 고객의 구매패턴의 변화로 인해 경쟁력을 상실해 가고 있다. 지역 경제의 중심지인 재래시장의 침체는 지역경제 위축의 요인으로 작용하고 있다. 이와 같은 문제에 대한 해결 방안으로써, 본 연구에서는 U-Market 시스템을 제안하였다. u-Market 시스템은 재래시장에 시간과 장소의 제약 없이 고객과 커뮤니케이션이 가능한 유비쿼터스 컴퓨팅 기술을 적용한 시스템으로써, 재래시장을 활성화하는데 그 목적이 있다. 본 연구에서 제안한 u-market 시스템은 재래시장 정보 및 위치 정보를 제공함으로써, 고객이 원하는 시장의 주요 정보를 쉽게 획득할 수 있도록 한다. 또한 원하는 시장 정보를 볼 수 있는 지도 서비스를 제공하며, 고객의 현재 위치, 날씨 등의 상황정보를 기반으로 사용자가 가장 선호할 만한 상품 및 매장을 추천함으로써 정보 검색에 소요되는 시간 및 노력을 감소시켜 준다.

• 대한전기학회논문지:전력기술부문A
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• 제54권2호
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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.