• The Transactions of The Korean Institute of Electrical Engineers
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• v.60 no.11
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• pp.1993-1999
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• 2011

Today, the power utilities is setting on the slow load growth and the aging of power equipment, and then could spend the efforts on the stability of system performance. Asset management may be defined as the process of maximizing corporate profit by maximizing performance and minimizing cost over the entire life cycle of power equipment. Therefore, asset management is great way to fulfill the economic investment and the stability of system performance. This paper presents the application of effective asset managem ent from an economic perspective. A proposed method is considering the life cycle analysis using life cycle cost methodology for hydro-generator during the total life cycle. The life cycle cost methodology include a way to calculating maintenance and operating costs. The proposed method will be expected to play an important role in investment decision making considering economic evaluation.

• 한국연소학회:학술대회논문집
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• 2015.12a
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• pp.323-323
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• 2015

In recent years, increasing concerns of environmental issues of global warming and limitations of conventional energy resources have resulted in extensive researches into energy harvesting from unused energy. Thermoelectric generation (TEG) is a promising technology for waste heat to power, and various kinds of applications are possible if a waste heat source meets the requirements of TEG operation. In terms of commercialization, economic feasibility is important for an emerging technology like TEG. In this study, economic analysis was conducted for the application of TEG on various sources of waste heat.

• Journal of Electrical Engineering and Technology
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• v.9 no.3
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• pp.796-802
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• 2014

South Korea is recently under serious situation in supplying electricity with enough power reserve. A single fault of power plant at a peak-load time may lead to a total blackout for whole area connected by a single electric grid and isolated from other grids. Despite of the seriousness of blackout, however, there are scarce studies with ex-ante analysis of the economic costs from blackout. In order to evocate the seriousness, we calculate the economic costs for both industrial and household sectors with using some survey data and statistical methodologies. As a result, total economic costs are 39.23 trillion KRW (35.83 trillion KRW for industrial sector, 3.40 trillion KRW for household sector).

• Journal of the Korean Institute of Electrical and Electronic Material Engineers
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• v.26 no.9
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• pp.690-700
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• 2013

This study reviewed how the changes of the government policy on solar power generation projects affected the annual mandatory quotas of the regulated power providers under the RPS (renewable portfolio standard) system and analysed economic feasibility of the investment for meeting their quotas as compared to the case of non-regulated power providers. The analysis results showed that under the discount rate of 7.5%, which was used for the annual national electricity plans for the recent years, both the regulated and non-regulated power providers achieved economic feasibility under both the NPV (net present value) method and the real option pricing method. It was also shown that higher profitability was attained by non-regulated power providers than by their regulated counterparts, which can be attributable to the fact that regulated providers are required to out-source 50% of the total quota. The results of this study are considered to be useful for establishing a meaningful mid term or long term strategy for the future of solar power generation linked to the current RPS system.

• Proceedings of the KIEE Conference
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• 2000.07a
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• pp.172-174
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• 2000

This paper summarizes the feasibility study of HTS power cables in Korea, including the conceptual design of a 154 kV 1000 MVA class HTS cable system, and the relative economic evaluations between conventional and HTS cable systems in Seoul area. According to the results of the economic evaluations, the HTS cable system can reduce the construction work for 168km of underground transmission lines, saving 700 million USD of construction cost in 2010.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.50 no.7
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• pp.318-323
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• 2001

This paper proposes an efficient method of On-Line Economic Load Dispatch(ELD) using Evolutionary Programming(EP) technique at KwangYang steel works. The economic operation of steel works is done by experienced engineer. So far, there is no formulation and algorithm of economic operation of steel works. In this paper, we propose the formulation and On-Line algorithm of economic operation of steel works. The EP technique is the kind of Evolutionary Computation(EC), which has become a candidate for many optimization applications due to its flexibility and efficiency. Based on the EP technique, the proposed algorithm is capable of not only solving the economic problem, but also obtaining the global optimal solutions within reasonable execution time. To validate our proposed approach, the algorithm is demonstrated on many sample systems and compared to actual values of steel works.

• Journal of the Korean Professional Engineers Association
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• v.30 no.5
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• pp.82-95
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• 1997

A Study of Improvement in Reactor Thermal Power Measurement Method using Kalman Filter. The objectives of the safety analysis of nuclear power plants are to maintain the surface temperature of fuel and fuel cladding within limit value in case of Loss of Coolant accident (LOCA) so that it ensures the safety and reliability of nuclear power plants. The new technique evaluating the reactor power and improvement of existing plant system increase the safety margin of nuclear power plant operation, and accordingly, economic effect will be anticipated. Hereby, 1 would like to introduce reactor power measurement method using Kalman filter that enables to calculate the reactor power more precisely combining the parameters, for example, turbine output as the 1 st stage pressure of high pressure turbine, and reactor power using energy equilibrium relation. It is expected that the new technique will enhance the accuracy of measurement of reactor power and maintain the reliability of nuclear power operation by increasing operational safety margin, and gain the economic benefit

• The Transactions of the Korean Institute of Electrical Engineers
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• v.33 no.10
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• pp.410-422
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• 1984

This paper presents a new practical method for optimal active and reactive power control for the economic operation in electrical power system, and the programs are developed for digital computer solution. The major features and techniques of this paper are as follows: 1) The method is presented for finding the equivalent active power balance equation applying the sparse Jacobian matrix of power flow equation instead of using B constant as active power balance equation considering transmission loss, and thus for determining directly optimal active power allocation berween generator unitw satisfying the equality and inequality constraints. 2) The method is proposed for solving directly the optimum economim dispatch problem without using gradient method and penalty function for both active and reactive power control. As a result, the computing time are reduced and convergence characteristic is remarkably improved. 3) Unlike most of conventional methods which adopt the transmission loss as a objective function for reactive power control, the total fuel cost of themal power plant is adopted as objective function for both active and reactive power control. consequently, more reasonable and economic profit can be achieved.

• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.67-84
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• 2018

This study is about comparing coal thermal plant to LNG combined power plant in respect of environmental and economic cost analysis. In addition sensitive analysis of power cost and discount rate is conducted to compare the result of change in endogenous and exogenous variable. For environmental assessment, when they generate 10,669GWh yearly, coal thermal power plant emits sulfur oxides 959ton, nitrogen oxide 690ton, particulate matter 168ton and LNG combined power plant emits only nitrogen oxide 886ton respectively every year. Regarding economic cost analysis on both power plants during persisting period 30 years, coal thermal power plant is more cost effective 4,751 billion won than LNG combined taking in account the initial, operational, energy and environmental cost at 10,669GWh yearly in spite of only LNG combined power plant's energy cost higher than coal thermal. In case of sensitive analysis of power cost and discount rate, as 1% rise or drop in power cost, the total cost of coal thermal power plant increases or decreases 81 billion won and LNG combined 157 billion won up or down respectively. When discount rate 1% higher, the cost of coal thermal and LNG combined power plant decrease 498 billion won and 539 billion won for each. When discount rate 1% lower, the cost of both power plant increase 539 billion won and 837 billion won. With comparing each result of change in power cost and discount rate, as discount rate is weigher than power cost, which means most influential variable of power plan is discount rate one of exogenous variables not endogenous.

• KIEE International Transactions on Power Engineering
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• v.4A no.1
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• pp.6-10
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• 2004

This paper presents an assessment of the customer interruption costs using a macro economic methodology of Korean customers by cities and provinces. The customer interruption cost is considered a very useful index in quantifying reliability worth from a customer point of view. This paper reviews the methodology to evaluate the customer interruption costs and ratio to the average revenues per electric energy sold for public, service agriculture, fishery, mining, manufacturing and residential sectors by cities and provinces in Korea.