• Environmental and Resource Economics Review
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• v.17 no.3
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• pp.167-199
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• 2008

There are many successful cases in power interconnection among European and South American countries. However, that is not the case in Northeast Asian countries. Even though there will be a considerable benefit in power interconnection in Northeast Asian countries, there will be some difficulties due to various interest relationship and constraints among countries in Northeast Asia. GTMax(Generation and Transmission Maximization) Program is a very useful tool to analyze competitive electricity market and power interconnection developed by Argonne National Laboratory under the Department of Energy in the USA. This study tried to verify applicability and usefulness by GTMax model to domestic electric power system and power transfer from Russia Far East by power interconnection. When the power by importing from Russia is 2,000MW(around 2% of domestic installed capacity in 2017), there is no impact on domestic electricity market because of small power transfer. The power by importing should be large enough for achieving greater cost reduction by power interconnection. Besides, it would be better to supply power to Kyung-In region directly in reducing overall cost when the power by importing from Russia are sold at low price. In the case of interconnecting Young-Dong region, if it is not possible to upgrade transmission line with power transfer capabilities between Young-Dong and Kyung-In region, then the power by importing from Russia can replace the power produced in Jung-Bu region and the relative benefit of importing power can be reduced.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.55 no.4
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• pp.172-178
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• 2006

In this paper, an advanced demand clustering algorithm which can explore the planned maintenance outage of generators in changed electricity industry is proposed. The major contribution of this paper can be captured in the development of the long-term estimates for the generation availability considering planned maintenance outage. Two conflicting viewpoints, one of which is reliability-focused and the other is economy-focused, are incorporated in the development of estimates of maintenance outage based on the advanced demand clustering algorithm. Based on the advanced clustering algorithm, in each demand cluster, conventional effective outage of generators which conceptually capture maintenance and forced outage of generators, are newly defined in order to properly address the characteristic of the planned maintenance outage in changed electricity markets. First, initial market demand is classified into multiple demand clusters, which are defined by the effective outage rates of generators and by the inherent characteristic of the initial demand. Then, based on the advanced demand clustering algorithm, the planned maintenance outages and corresponding effective outages of generators are reevaluated. Finally, the conventional demand clusters are newly classified in order to reflect the improved effective outages of generation markets. We have found that the revision of the demand clusters can change the number of the initial demand clusters, which cannot be captured in the conventional demand clustering process. Therefore, it can be seen that electricity market situations, which can also be classified into several groups which show similar patterns, can be more accurately clustered. From this the fundamental characteristics of power systems can be more efficiently analyzed, for this advanced classification can be widely applicable to other technical problems in power systems such as generation scheduling, power flow analysis, price forecasts, and so on.

• Environmental and Resource Economics Review
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• v.20 no.4
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• pp.761-796
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• 2011

The purpose of this paper is to derive fuel mix of electricity generating system with the lowest cost considering energy security and climate change mitigations as the target of energy policy. Energy Security Price Index(ESPI), based on the measure of market concentration in fossil fuel market and political risk of exporting countries, is chosen to assess the level of energy security. The methodology of Energy Conservation Supply Curve(CSC) is applied to fuel mix to meet the carbon emission mitigation through increasing the alternatives participation and introduction of new technologies. These also represent an improvement on the level of energy security, having the complementarity between two objectives. The alternative measure for improving energy security is exploration and production(E&P) of fossil fuel for energy sufficiency. Fuel mix of electricity generating system to achieve certain objectives in 2020 can be derived with the lowest cost considering energy security and carbon emission mitigations.

• Environmental and Resource Economics Review
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• v.25 no.3
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• pp.377-401
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• 2016

This study analyzes how much cost the power generation and energy sector in South Korea have to bear due to the introduction of emissions trading scheme during 2016 - 2017. To this end, the data on the seventh basic plan for long-term electricity supply and demand is applied to the electricity market simulation model called M-Core, and then the model forecasts carbon dioxide emissions to compare with the free emission allowances in the first national emissions permit allocation plan. The main results are as follows. Carbon dioxide emissions are estimated to be less in 2016 but more than the free emission allowances in 2017. When the price of the allowances is changed from \10,000/ton to \20,000/ton, the cost of purchasing the allowances is ranged from \70 billion to \140 billion. Under the assumption that CO2 cost is incorporated into the variable cost, a reversal of merit order between coal and LNG generation takes place when the price of the allowances exceeds \80,000/ton.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.3
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• pp.144-151
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• 2005

This paper presents a forecasting technique of the short-term marginal price (SMP) using an Artificial Neural Network (ANN). The SW forecasting is a very important element in an electricity market for the optimal biddings of market participants as well as for market stabilization of regulatory bodies. Input data are organized in two different approaches, time-axis and day-axis approaches, and the resulting patterns are used to train the ANN. Performances of the two approaches are compared and the better estimate is selected by a composition rule to forecast the SMP. By combining the two approaches, the proposed composition technique reflects the characteristics of hourly, daily and seasonal variations, as well as the condition of sudden changes in the spot market, and thus improves the accuracy of forecasting. The proposed method is applied to the historical real-world data from the Korea Power Exchange (KPX) to verify the effectiveness of the technique.

• Journal of Energy Engineering
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• v.11 no.4
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• pp.291-298
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• 2002

This paper presents a practical methodology that can analysis power flow and marginal factors based on optimal power flow (OPF) of power systems under restructuring environment. First of all, to evaluate useful marginal factors, nonlinear optimization problems of minimum fuel cost and minimum transmission loss are formulated and solved by nonlinear primal-dual interior point method. Here, physical constraints considered in the optimization problems are the limits of bus voltage. line overloading, and real & reactive power generation. Also, an evaluation method of marginal price and marginal transmission loss is presented based on sensitivities calculated by the two OPF problems. Especially, to reflect the cost related to transmission losses in the competitive electricity market, an analysis method of MLF (marginal loss factor) is pro-posed. Numerical results on IEEE RTS 24 show that the proposed algorithm is effective and useful for analysis of power market price.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.57 no.1
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• pp.25-33
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• 2008

This paper presents a new approach of a evaluation of location marginal prices(LMPs) considering demand response resources in the competitive electricity market. The stabilization of the electric power supply and demand balance has been one of the major important activities in electric power industry. Recently, much attention is paid to the demand-side resources which are responsive to incentives or time-varying prices and existing power system planning and operation activities are incorporated with the so-called demand response resources. In this paper, we first present an analytical method for calculation of LMPs considering demand response resources and then break down the LMPs into three components. In this study, we assume that Korean power system consists of two major regions, one which is the metropolitan and the other is non-metropolitan region. In the case study, we have considered several LMPs cases with different use of locational demand response resource and we can obtain a locational signal to demand response resources. Also, the economics of demand response resources are evaluated, compared with the increase of transmission line capacity and of generation capacity.

• 한국신재생에너지학회:학술대회논문집
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• 2011.05a
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• pp.109.1-109.1
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• 2011

KEPCO was operating power plants with diesel generators in 49 islands including Baekryeong-Do, and the generation capacity was about 66 MW in 2008. The cost of fuel is increasing by the international oil price inflation and continuous rise of oil price is predicted. For the stabilizing of electric power supply to the separate islands, renewable energy and fuel cell systems were considered. Hydrogen is made using renewable energy such as wind power and solar energy, and then a fuel cell system generates electricity with the stored hydrogen. Though the system efficiency is low, it is treated as the only way to secure the stable electric supply using renewable energy at this present. The analytic hierarchy process was used to select suitable candidate island for the system installation and 5 islands including Ulleung-Do were selected. Economic evaluation for the system composed of a kerosene generator, a wind power, an electrolysis, and a fuel cell system was conducted with levelized generation cost based on present value methode. As the result, the necessity of renewable energy combined generation system and micro grid composition in the candidated islands was confirmed. Henceforth, the development of an integration technology which connects micro grid to the total power grid will be needed.

• Proceedings of the KIEE Conference
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• 2005.07a
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• pp.861-863
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• 2005

LMP based congestion management method is suggested as an effective tool, because network congestion can be handled by energy price. It is now being widely used in the North American Electricity Markets. Among them, FGR(Flow-gate rights) is considered to be appropriate for our system, as power flow through the congested line is unidirectional and congestion occurs in the known place. In the CBP market, hedging through transmission right is not necessary even though location pricing system is adopted, because there are no risks in the energy price. Rut, transmission rights should be adopted in the advanced market. Key issue when implementing FGR is how to decide transmission right issuance quantify. This paper deals with a method to decide transmission right issuance quantity by using power. Transfer Distribution Factor(PTDF).

• New & Renewable Energy
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• v.7 no.1
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• pp.29-35
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• 2011

The waste treatment fee and energy production effect of Wonju city RDF plant, the first RDF manufacturing plant in Korea, were investigated in the study. All plant operation data, like total weight of received wastes, produced RDF and separated rejects in processes were fully recorded for mass balance calculation of the plant in 2009. Also all consumed oil and electricity were recorded for energy balance calculation. The results showed that the waste treatment fee not including the RDF sales price of 25,000 won/ton-RDF was 116,573 won/ton-MSW and it went down to 105,298 won when included the RDF price. Produced RDF was 40.2% of total received waste in weight. Three components analysis by mass balance calculation of total received waste showed that Wonju city's MSW was 32.4% of combustible, 37.5% of water and 30.1% of incombustible respectively. Energy effect was found that total amount of produced energy was about 4 times more than that of consumed energy.