• Journal of Energy Engineering
• /
• v.15 no.4 s.48
• /
• pp.229-234
• /
• 2006

Electric energy is too difficult to manage realtime for irregular change of load because of non-storage. In specially, operation of reserve is ancillary service to supply stably to defend large troubles in electric power system. But whole of electric power system brings to economical loss because of reserve operation. Therefore optimal reserve quantity and optimal reserve price are necessary in order to minimize loss. In this paper, we have presents optimal dispatch and reserve price consideration of opportunity cost.

• Journal of Electrical Engineering and Technology
• /
• v.10 no.2
• /
• pp.511-517
• /
• 2015

Determination of the required reserve capacity has an important function in operation of power system and it is calculated based on the largest loss of supply. However, conventional method cannot be applied in future power system, because potential grid-connected distributed generator and abnormal temperature cause the large load imbalance. Therefore this paper address new framework for determining the optimal required reserve capacity taking into account the real time load imbalance. At first, we introduce the way of operating reserve resources which are the secondary, tertiary, Direct Load Control (DLC) and Load shedding reserves to make up the load imbalance. Then, the formulated problem can be solved by the Probabilistic Dynamic Programming (PDP) method. In case study, we divide two cases for comparing the cost function between the conventional method and the proposed method.

• Journal of Energy Engineering
• /
• v.21 no.3
• /
• pp.221-227
• /
• 2012

The CANDU 9 shield cooling system was designed and layout with the objective of promoting natural circulation on loss of forced flow. In the present study, the shield cooling natural circulation was analyzed using verified the thermal-hydraulic code when the coolant pump or the heat exchanger was lost. This study showed that thermosyphoning cooled the end shields and prevented the end shields and the reserve water tank from boiling for at least 8 hours on loss of the shield cooling pumps but the heat exchangers still operational. With the loss of both pumps and heat exchangers, the end shields remain subcooled for up to 4 hours. To enhance thermosyphoning, the bypass connection to the line from the reserve water tank should be relocated to a point as low as possible.

• Communications for Statistical Applications and Methods
• /
• v.15 no.4
• /
• pp.551-562
• /
• 2008

The loss reserve is defined as a provision for an insurer's liability for claims or an insurer's estimate of the amount an individual claim will ultimately cost. For the estimation of the loss reserve, the data which make up the claims in general is represented as run-off triangle. The chain ladder method has known as the most representative one in the estimation of loss reserves based on such run-off triangular data. However, this fails to capture change point in trend. In order to test of structural changes of development factors, we will present the test statistics and procedures. A real data analysis will also be provided.

• The Transactions of The Korean Institute of Electrical Engineers
• /
• v.57 no.8
• /
• pp.1318-1326
• /
• 2008

This paper proposes an alternative methodology for deciding an optimum deterministic reliability level (IRR; Installed Reserve Rate) by using probabilistic reliability criterion (LOLE; Loss of Load Expectation). Additionally, case studies using the proposed method induce the characteristics of relationship between the probabilistic reliability index (LOLE) and deterministic reliability index (IRR) for 2008 and 2010 years in Korea power system. The case study presents a possibility that an optimum IRR level in Korea can be assessed using the proposed method. Korea power system has been using the LOLE criterion to determine the adequacy of installed capacity (ICAP) requirement. The criterion in Korea is that the loss of load expectation shall not exceed the available capacity more than five day in ten years (=0.5[days/year]), The probabilistic reliability evaluation and production cost simulation program which is called PRASim is used in order to evaluate the relationship and optimum IRR in this paper.

• The Transactions of The Korean Institute of Electrical Engineers
• /
• v.59 no.1
• /
• pp.26-32
• /
• 2010

This paper proposes a new effective installed reserve rate in order to evaluate reliability of power system considering renewable generators, which include uncertainty of resource supply. It is called EIRR(effective installed reserve rate) in this paper. It is developed with considering capacity credit based on ELCC by using LOLE reliability criterion. While the conventional installed reserve rate index yields over-evaluation reliability of renewable generators, the proposed EIRR describes actual effective installed reserve rate. However, it is not the probabilistic reliability index as like as LOLE or EENS but another deterministic effective reliability index. The proposed EIRR is able to evaluate the realistic contribution to the reliability level for power system considering wind turbine generators and solar cell generators with high uncertainty in resource supply. The case study in model system as like as Jeju power system size presents a possibility that the proposed EIRR can be used practically as a new deterministic reliability index for generation expansion planning or operational planning in future.

• Proceedings of the KIEE Conference
• /
• 1996.07b
• /
• pp.790-792
• /
• 1996

According to increase in electric power demand, the increasing rate of peak load compared with that of base load grows larger every year. Thus this paper deals with the optimal dynamic dispatch problem due to power rate limits and spinning reserve with loss or without loss. The first is adjusting module for gradual change of generator power by Object-Oriented Programming. The latter is an efficient dispatch module for the consideration of reasonable spinning reserve requirements. The proposed algorithm has been shown efficiency in real power system with loss.

• Communications for Statistical Applications and Methods
• /
• v.24 no.3
• /
• pp.211-226
• /
• 2017

The chain-ladder method, for which run-off data is employed is popularly used in the rate-adjustment and loss-reserving practices of non-life-insurance and health-insurance companies. The method is applicable when the underlying assumption of a consistent development pattern is in regards to a cumulative loss payment after the occurrence of an insurance event. In this study, a modified chain-ladder algorithm is proposed for when the assumption is considered to be only partially appropriate for the given run-off data. The concept of a structural-change point in the run-off data and its reflection in the estimation of unpaid loss amounts are discussed with numerical illustrations. Experience data from private health insurance coverage in Korea were analyzed based on the suggested method. The performance in estimation of loss reserve was also compared with traditional approaches. We present evidence in this paper that shows that a reflection of a structural-change point in the chain-ladder method can improve the risk management of the relevant insurance products. The suggested method is expected to be utilized easily in actuarial practice as the algorithm is straightforward.

• The Journal of Fisheries Business Administration
• /
• v.42 no.3
• /
• pp.95-107
• /
• 2011

The Comprehensive Measures for a soft landing of Household Debts affecting the credit service of Fisheries Cooperative (FC) have been known to the public in June 2011. Its essential points are as follows: 1) Abolition of Tax-free Regulation, 2) Set limit of loans, etc. per person, 3) Introduce leverage regulations for credit-specialized financial sector i. e. FC, 4) Gradually strengthen loan-loss reserve requirements for card-loan and other credit loans. However, the Financial Policy Measures seem to pay no attention to the Cooperative's Values, Principles and Identity. In this paper, emphasis is be placed on the task of the regulators i. e. Financial Services Commission and Financial Supervice Service to lift the Financial Measures negatively affecting the operation of fund of FCs, and on the establishment of Cooperative identity in order to further develop FCs.

• Korean Journal of Construction Engineering and Management
• /
• v.23 no.3
• /
• pp.25-35
• /
• 2022

The purpose of this study is to derive risk events that occurred during aircraft runway construction and analyze loss costs for project participants. For this purpose, design change data, contracted statement and completed statement were investigated. The results of this study are as follows: There were 12 risk events in the process of construction, 5 design errors and 7 construction errors. The increased construction costs due to such risk events were calculated as KRW 726 million. Of the KRW 726 million that was increased due to risk events, about 52.57% was spent by the ordering agency, and about 47.43% contractors. The increased construction costs due to such risk events are about 4.86% of the direct construction costs of KRW 14.9 billion. Based on the results derived from these case studies, a method for estimating reserve costs and construction costs considering risk events is presented.