• 대한전기학회논문지:전력기술부문A
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• 제51권6호
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• pp.269-275
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• 2002

Recently, Korea's electric industry has experienced substantial changes in its structure and function including the introduction of competition in the generation sector. Korea is in the early stages of market competition where the market price is determined by generation costs. In the future, the market Price will be determined by generators'bids. Therefore, the generators'profit is determined by market pool price, the prospects of pool price are very important for new capacity investment decision made by generators and IPPS. This study analyzes hourly marginal costs and LOLP considering basic generation mix and characteristics develops the relationship of pool price and Profit by generation-type using the change in reserve margin, and proposes basic direction for profits variation and supply-demand analysis in the electricity market in future.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2006년도 제37회 하계학술대회 논문집 A
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• pp.418-419
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• 2006

After electricity power industry restructuring, "Long term power development plan", setting up by government, is replaced by "Basic plan of electricity supply and demand". In this basic plan, one of the most important factors is assessment of appropriate capacity margin. The benefit of GENCO is decided by the market price, and the price is largely affected by the level of reserve margin. As a consequence, appropriate reserve margin is determined by market power. However, Cost Based Pool(CBP) is a limited competitive market, and government policy for supply and demand is very important factor or reserve margin determination. This paper points out issues about existing reserve margin assessment method which is used in basic plan and suggests improved assessment method. In the case study, capacity margin is calculated by proposed assessment method and result shows the advantages of suggested method.

• Animal cells and systems
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• 제13권1호
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• pp.17-23
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• 2009

In previous studies, we found that Annexin I (Anx I) was co-secreted with insulin in response to glucose, and that extracellular Anx I stimulated the release of insulin via the Anx I binding site in rat pancreatic islets and the &-cell line. However, the role that Anx I plays in the insulin secretion was not established. Therefore, in this study, we evaluated the insulin secretion pattern in response to Anx I and the involvement of the cytoskeleton or PKC in Anx Istimulated insulin secretion in MIN6N8a cells. The peak time of insulin secretion in response to Anx I treatment corresponded with the second phase insulin secretion by glucose in the perifused pseudoislets. In addition, Anx I-stimulated insulin secretion was not affect by readily releasable pool depletion. Taken together, these findings indicate that Anx I treatment was associated with movement of the reserve pool of insulin. Furthermore, Anx I-stimulated insulin secretion was attenuated by treatment with a microfilament inhibitor, cytochalasin B, as well as by PKC down regulation. These results indicate that Anx I may be a regulator of second phase insulin secretion.

• Journal of Electrical Engineering and Technology
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• 제9권3호
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• pp.1089-1095
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• 2014

Innumerable microgrids would be operated independently by individual operators in a future smart grid. This kind of decentralized power system requires entirely different operation scheme in the actual power system and electricity market operation. Especially, frequency regulation is very important for successive energy trade in this multi-microgrid circumstance. This paper presents an optimal energy and reserve market participation strategy and operation strategy of energy storage system (ESS) by a microgrid operator (MGO). For definite evaluation of the proposed strategy, we postulate that the MGO should participate in the Power Exchange for Frequency Control (PXFC) market, which was devised by Maria Ilic and her coworkers and is suitable to the decentralized operation circumstances. In particular, optimal reserve capacity of the frequency control market and optimal market participation ratio of ESS between frequency control market and energy market are derived theoretically and evaluated by simulations utilizing Nordic Pool Elspot price data.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2009년도 제40회 하계학술대회
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• pp.589_590
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• 2009

This paper presents a unique approach to scheme a demand response (DR) program in the electricity market from a customer-oriented perspective, which is based on the analytic hierarchy process (AHP). The proposed program is designed as an incentive-based program (IBP) considering Korea power systems with the cost-based generation pool (CBP). And the proposed DR program has the objective to maximize social welfare corresponding customers‘ participation and the constraints including incentive payments, the specific load curtailment conditions and reserve-margin criterion. A test system for the case study is used to demonstrate the usefulness and applicability of the proposed approach, and the load profiles with the proposed DR program are obtained. The results show not only the revenue attributable to the avoided costs but also enhancement of system reliability.

• 대한전기학회논문지:전력기술부문A
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• 제53권6호
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• pp.334-339
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• 2004

In this study, a new UC (Unit Commitment) algorithm is proposed to consider the uncertainty of a daily load profile. The proposed algorithm calculates the UC results with the lower load level than the one generated by the conventional load forecast and the more hourly reserve allocation. In case of the worse load forecast, the deviation of the conventional UC solution can be overcome with the proposed method. The proposed method is tested with sample systems, which shows that the new UC algorithm yields completely feasible solution even though the worse load forecast is applied. Also, the effects of the uncertain hourly load demand are statistically analyzed especially by the consideration of the average over generation and the average under generation. Finally, it is shown that independent power producers participating in electricity spot-markets can establish bidding strategies by means of the statistical analysis. Therefore, it is expected that the proposed method can be used as the basic guideline for establishing bidding strategies under the deregulation power pool.

• KIEE International Transactions on Power Engineering
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• 제5A권1호
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• pp.16-21
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• 2005

In this study, a new Unit Commitment (UC) algorithm is proposed to consider the uncertainty of a daily load profile. The proposed algorithm calculates the UC results with a lower load level than that generated by the conventional load forecast method and the greater hourly reserve allocation. In case of the worst load forecast, the deviation of the conventional UC solution can be overcome with the proposed method. The proposed method is tested with sample systems, which indicates that the new UC algorithm yields a completely feasible solution even when the worst load forecast is applied. Also, the effects of the uncertain hourly load demand are statistically analyzed, particularly by the consideration of the average over generation and the average under generation. Finally, it is shown that independent power producers participating in electricity spot-markets can establish bidding strategies by means of the statistical analysis. Therefore, it is expected that the proposed method can be used as the basic guideline for establishing bidding strategies under the deregulation power pool.

• KDI Journal of Economic Policy
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• 제32권4호
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• pp.153-195
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• 2010

세계금융위기의 근본적인 원인은 시장과 제도의 괴리에서 나오는 '제도의 실패'라고 할 수 있다. 특히 현재의 국제통화제도는 무제도(non-system)나 다름없다고 할 수 있다. 현재 당면하고 있는 국제통화제도의 문제점들을 볼 때 개편 방향의 핵심은 (1) 수요 측면에서는 과대한 외환보유고를 축적하려는 인센티브를 어떻게 줄일 수 있을 것인가 하는 것이며, (2) 공급 측면에서는 현재 미국 달러화에 주로 의존하고 있는 제도를 탈피, 보다 다양한 국제통화 혹은 대체적 외화준비자산(SDR을 포함하여)으로 전환해 나가거나 혹은 보다 근본적인 개혁방안으로서 새로운 세계통화(global reserve currency)를 창출하는 것이다. 그리고 (3) 이러한 변화를 뒷받침 하기 위해 필요한 기구적 개편, 특히 IMF의 개혁을 추진하는 것이다. 이러한 개편은 현실적 국제역학관계로 볼 때 오직 점진적으로 일어날 수 있는 것이다. 따라서 현재 세계경제의 안정적 성장을 위해 중요한 것은 이러한 개편을 점진적으로 추진함과 동시에 주요국 간의 거시경제정책공조를 이뤄 나가는 것이다. 이러한 과정을 원활히 해나가기 위해서는 효율적인 세계경제 지배구조를 갖추는 것이 필수적이다. 세계금융위기 이후 출범한 G20 정상회의가 효율적인 협의체가 되기 위해서는 의사결정이 원활히 이루어질 수 있는 방안과 장치를 세워나갈 필요가 있다. 사무국(secretariat) 혹은 그와 유사한 기능을 행사할 수 있는 조직의 설립과 위원회제도 같은 것을 활용할 필요가 있을 것으로 보인다.

• 전기학회논문지
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• 제56권10호
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• pp.1731-1737
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• 2007

The Korea electricity wholesale market is operated under the cost-based-pool system and the government regulation to the new generation capacities in order to insure the resource adequacy. The goal of government's regulation is the electricity market stability by attracting proper generation investment while keeping the reliability of system. Generation companies must mandatory observe that government plan by now. But if the restructuring is to be complete, generation companies should not bear any obligation to invest unless their profitability is guaranteed. Namely the investors' behavior will be affected by the market prices. In this paper, the system dynamics model for Korea wholesale electricity market to examine whether competitive market can help to stabilize is developed and analyzes the investors behavior. The simulation results show that market controlled by government will be operated stable without resulting in price spike but there is no lower price because of maintaining the reasonable reserve margin. However, if the competition is introduced and the new investment is determined by the investor's decision without government intervention, the benefits from lower wholesale price are expected. Nevertheless, the volatility in the wholesale market increases, which increases the investment risks.

• 전기학회논문지
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• 제66권8호
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• pp.1172-1180
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• 2017

This study analyzed competition in peak load plants between CCGT and GT instead of competition between base and peak load plants like in previous studies. In common overseas power markets, CCGT and GT claim certain market shares as peak load plants with the latter boasting a high utilization rate as reserve plants. In South Korea, however, there has been no introduction of GT in the market that opened in 2001 with no analysis cases of GT's economy as a peak load plant. The current power market of South Korea is run on the cost-based pool, which allows for no price spikes. Since the capacity payment criteria for compensations for missing money are set based on GT generators, the power market uses GT generators as marginal plants. The purposes of this study were to analyze the competitive edge of GT generators as peak load plants in the domestic power market of South Korea and identify the causes of GT's failure in market entry, thus assessing the adequacy of market signals in the domestic power market.