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Power Market
Power System
II
Electricity Market
III
Market Issues
Power Planning
Power Market
Power System
KEY STATISTICS (2010) People served (million) Generating capacity (MW) Peak loads (MW)
Yangyang P/P Sin-Dukheun Sin-Gapyung Uijeongbu Seo-Incheon C/C Yangju Migum Sungdong Chungbu Seo-Incheon Youngdeungpo Sin-Yangje Dong-Seoul Donghae Incheon T/P, Sin-Bupyung C/C Youngseo Sin-Sungnam Sin-Incheon Gonjiam Sin-Taebaek Seo-seoul Youngheung T/P Sin-Sihung Sin-Ansan Hwasung Sin-Youngin Pyungtaek T/P, C/C Sin-suwon Uljin N/P Sin-Youngju Dangjin T/P Sin-Dangjin Sin-Ansung Sin-Jecheon Ansan Sin-Jincheon Taean T/P Cheongsong P/P Chungwon Sin-seosan Boryeong T/P, C/C Sin-onyang Sinkaedong Chungyang Gunsan Sin-Gimje Sin-Youngil Sin-Okcheon
Total transmission lines (C-Km) Electricity traded annually (GWh) Generators (above 20MW) CHARACTERISTICS 372 ea
Youngwang N/P Sin-Gwangju Sin-Hwasun Gwangyang Sin-Gangjin Haenam C/S Yeosu N/P Jeju T/P Sanji Jocheon Hanrim CC Dong-Jeju Sungsan AndukSin-Jeju Hanla Namjeju Seogwipo
In-Masan Bukbusan Kori N/P Sin-Yangsan Sin-Gimhae Sin-Gosung Nam-Pusan Pusan C/C Samcheonpo T/P Hadong T/P
Isolated power grid within Korean peninsular. High growth rates of power consumption. - Annual increase rates; 91-95: 10.9%, 96-00: 7.4%, 01-05: 6.6%, 06-10: 5.6% Highly dependent on foreign energy resources; - 96.4% of primary energy imported (232 million toe, 08) * Primary energy resources; - Oil: 43.1%, Coal: 27.6%, LNG: 15.3%, Nuclear: 2011 IRAN IGMC Power System Operation Training Program 14.0%
Wolseong N/P Ulsan TP, C/C Sin-Onsan
(Unit : 10 MW)
Sin-Incheon Ilsan Paldnag
Yangyang
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Kangreung Youngdong
5 12 Chungpyung 90 Seo-Incheon 180 20 Soyangkang Pucheon Seoul 8 Incheon 39 7 40 POSCO 180 45 Chungpyung Small Hydro (Pocheon etc) Youngheung 247 115 50 45 90 180
Dangjin Taean
Capacity by Fuels
Donghae
33
40
(Unit : MW)
Nuclear
590
Uljin
400 48 140
Pyungtaek
17,716(23.3%) Oil 5,805(7.6%) Hydro 5,524(7.3%) Renewable 1,762(2.3%) Coal 24,800 (32.6%) * As of Dec 31, 2010 LNG 20,471 (26.9%)
400
50
Boryeong
300 180 40
Seocheon
41 9 Chungju Daechung 60
Muju Hapchun Andong
Wolseong
2
Yongdam
9 10 70
Imha Cheongsong
60
Ulsan
278 40
Youngnam
3 2
Youngkwang
Sumjinkang Sanchung
60 Samrangjin
Busan Samcheonpo
180 120
Kori
590
Chuam
314
400
50
99
300
180
53
74
Jeju
Characteristics 765kV
Mass transmission system
345kV
Main transmission system
Migum Sungdong Chungbu Seo-Incheon Youngdeungpo Sin-Yangje Dong-Seoul Youngseo Incheon T/P, C/C Sin-Bupyung Sin-Sungnam Sin-Incheon Gonjiam Seo-seoul Sin-Sihung Youngheung T/P Hwasung Sin-Youngin Sin-Ansan Pyungtaek T/P, C/C Dangjin T/P Taean T/P Sin-Dangjin Ansan Sin-Jincheon Sin-suwon Sin-Ansung Sin-Jecheon Sin-Youngju
Donghae
Sin-Taebaek
Uljin N/P
154kV
Distribution system - Connected to major areas of consumption
Sin-onyang Sinkaedong Chungyang Gunsan Muju P/P Sin-Gimje Sancheong P/P Sin-Okcheon
Sin-Youngil
Sunsan Buk-Daegu Seo-Daegu Goryeong Sin-Kyeongsan Daegu Sin-Namwon Youngwang N/P Euiryong In-Masan Sin-Gwangju Sin-Gimhae Sin-Gosung Sin-Hwasun Gwangyang Sin-Gangjin Haenam C/S Yeosu N/P Hadong T/P Pusan C/C Samcheonpo T/P Pusan C/C Hadong T/P Samcheonpo T/P Bukbusan Ulju Ulsan TP, C/C Wolseong N/P
Nam-Pusan
Second HVDC Line between main land and Jeju island is being built by 2012 ( 300MW 700MW)
Copyright 2011 by KPX co., Ltd. All rights reserved.
The capacity margin was just around 6.2% (the lowest since 2001)
Has gradually decreased due to the delayed construction in facilities. May improve from 2012 with the generator additions.
(Unit:MW) * As of Dec , 2010
Peak demand
(Growth rate)
66,800 (6.4%)
71,308 (6.8%)
Reserve margin
12.2% 11.3%
51,260 (8.2%)
54,630 (6.6%)
58,990 (8.0%)
10.5%
62,290 (5.6%)
62,790 (0.8%)
9.1% 7.2%
7.9% 6.2%
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07
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Power Planning
Power Market
Power System
II Electricity Market
Key Features Market Operations - Procedures - Biddings - Load Forecasting - Generation Scheduling - Metering - Settlement
Mandatory Pool
All generators( 1 MW) and retailers should trade(buy and sell) electric power through the market ; All market participants should register as the KPX member. The market players are GENCOs(sellers) and KEPCO(the single buyer).
The System Marginal Price(SMP) is determined in the process of Price Setting Scheduling.
SMP reflects actual production costs of generators(start-up, no-load, incremental cost).
10
MLF =
where, Loss ; change of total loss in the network Load increment ; incremental load at a certain bus
Copyright 2011 by KPX co., Ltd. All rights reserved. 2011 IRAN IGMC Power System Operation Training Program
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The reference capacity payment(RCP) is adjusted according to the forecasted capacity margin by regions (metropolitan/other/Jeju island) when it is beyond a reasonable value, i.e.12 %. The seasonal/hourly coefficients are applied to RCP to ensure the sufficient generation capacity in peak times. All the offered capabilities of the centrally dispatched generators(over 20 MW) are compensated by hourly based RCP regardless of their actual operations.
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Daily Bidding
Contents Hourly availability. Technical characteristics. Bidding time Closing time : AM 10:00, trading-day ahead(D-1) Term : 34 hours (19:00 D-1 ~ 04:00 D+1) Default Data is used if generators dont submit their data due to communication failures or human errors.
Re-Offers
Starting Time: 10:01 AM before the trading day. Closure Time: l (one) hour before the trading hour. Re-offer is allowed only when the generator has faults and it cannot meet the declared availability.
Copyright 2011 by KPX co., Ltd. All rights reserved. 2011 IRAN IGMC Power System Operation Training Program
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15p.m
18p.m
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Generation Cost [Won/kWh] = Heat rate [kcal/kWh] Fuel cost [Won/kcal] - Gencos submit monthly the fuel cost data to the Committee. - Fuel consumption rates are measured at 25%, 50%, 75%, 100% of the gen. output level during the performance test.
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Forecasting tool
Load forecasting system (LOFY*)
Application
For the fairness and transparency of the market pricing, the output of LOFY is used without any adjustments or modifications. However, for the operational generation schedule, specific knowledge /experiences/judgement of the engineer who is in charge, is added.
Using database
Weather forecasting data (Korea Meteorological Administration) Historical load data (using similar day pattern data)
LOFY was developed by the KEPRI(Korea Electric Power Research Institute) and updated their historical data base every year.
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RSC( Resource Scheduling and Commitment) determines the generator start/stop operations and also the generation outputs which can minimize the total generation cost while balancing supply and demand.
Major Functions
Market-based scheduling and day-ahead dispatch scheduling. The price setting is made by the unconstrained schedule and the generator dispatch planning by the constrained schedule.
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Objective Function
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SMP (Won/kWh) Gen 15 (200W) Gen 14 (150W) Gen 13 (82W) Gen 12 (81W) Gen 11 (80W) Gen 10 (44W) Gen 9 (43W) Gen 8 (42W) Gen 7 (41W) Gen 6 (40W) Gen 5 (3.4W) Gen 4 (3.3W) Gen 3 (3.2W) Gen 2 (3.1W) Gen 1 (3.0W) <Total Cap> Nuclear Coal biding LNG Gen 15 (200 ) Gen 13 (82 ) Gen 12 (81 ) Gen 11 (80 ) Gen 9 (43 ) Gen 8 (42 ) Gen 7 (41 ) Gen 6 (40 ) Gen 5 (3.4 ) Gen 4 (3.3 ) Gen 3 (3.2 ) Gen 2 (3.1 ) Gen 1 (3.0 ) <Biding Cap>
Copyright 2011 by KPX co., Ltd. All rights reserved. 2011 IRAN IGMC Power System Operation Training Program
Etc
Gen 15 (200 ) Gen 13 (82 ) Gen 12 (81 ) Pricing Gen 11 (80 ) Gen 9 (43 ) Gen 8 (42 ) Gen 7 (41 ) Gen 6 (40 ) Gen 5 (3.4 ) Gen 4 (3.3 ) Gen 3 (3.2 ) Gen 2 (3.1 ) Gen 1 (3.0 ) 4h
Gen 15 (200 ) Gen 13 (82 ) Gen 12 (81 ) Gen 11 (80 ) Gen 9 (43 ) Gen 8 (42 ) Gen 7 (41 ) Gen 6 (40 ) Gen 5 (3.4 ) Gen 4 (3.3 ) Gen 3 (3.2 ) Gen 2 (3.1 ) Gen 1 (3.0 ) 15h
Load
hour
23
(Unit:10MW)
Power demand
Low
(Time) 01:00 Power demand(10MW) Market price(won/kWh) 3,730 70.41 04:00 3,320 32.67 09:00 4,770 131.89 24 12:00 5,500 142.21 15:00 5,690 142.21 19:00 5,420 138.4 21:00 5,420 142.21 24:00 4,740 118.65
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Day-ahead Market
Real Time System Operation
Price(SMP) Schedule -
Settlements Energy
Scheduled Metered
Generation
Capacity Prices
Capacity A/S
A/S Prices
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(Won/kW-hour)
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Power Planning
Power Market
Power System
Number of participants has increased due to the growth of the renewables, especially, the solar power (104 members in 07 422 members in 10) Despite global economic recession, trade volume is increasing steadily.
Trade volume is 441TWh (Average increase rate for the last 4 years 5 %) Trade payments is $28 Billion (Average increase rate for the last 4 years: 14 %) * 6 Gencos, KEPCOs subsidiaries, take 91.7% of the total trade volume in 2010. Number of Members
(Unit : No.)
Trade Volumes
(Unit : TWh)
Trade Payments
(Unit : Billion Dollar)
302 104
422
392 374
441
23 18
28
07 08 10
07 08 10
07 08
10
* As of December, 2010
Copyright 2011 by KPX co., Ltd. All rights reserved. 2011 IRAN IGMC Power System Operation Training Program
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Market/Purchasing Prices
Steadily rising since the establishment of the market. The market price jumped in 2008 due to high increase of fuel prices. Market prices were maintained at high levels, however, the average settlement prices kept at a marginally increased level thanks to the nuclear power. < Retail tariffs by the usages >
($/MWh)
Retail prices
Stable even with the high fuel prices. This is because retail tariffs are regulated by the government, and KEPCOs financial status are not good in recent years due to the high purchasing price Cross subsidy between the tariffs according to the usages make it difficult to progress the market evolutions.
Copyright 2011 by KPX co., Ltd. All rights reserved. 2011 IRAN IGMC Power System Operation Training Program
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Electricity market reduces the electricity production cost and maximizes the resource availability
Economic dispatch is possible based on generation cost. Increasing the efficiency of O&M works of the generating facility. Improving the rate of using low-cost facility(nuclear, coal) (Capacity factor of nuclear and coal power plants are increased after operation of CBP market as 3.39%p and 2.7%p respectively.)
generators were increased and maintenance schedules were shortened. - About 1,000MW substitution effect of new base load generator were occurred after the market opening. O/M cost were cut down owing to the competition.
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Power Planning
Power Market
Power System
Market Issues
Vesting Contract Cross Subsidy between Customers Demand Response
Vesting Contract between Gencos and KEPCO has been suggested for the existing generators which were commissioned before the market opening(Because their construction cost has been already recovered and should be paid less compared the new generations). Cross subsidized tariffs between the electricity users results in inefficient use of the electricity in the beneficiaries. It seems that some users waste the electricity at heating because of low electricity prices compared with other form of energy. Demand response mechanism in the market will contribute to the optimal use of the electricity in generals. By using the market price(if possible, the real-time price) as the economic signal, smart grid initiatives will have a bright future in the industry.
Copyright 2011 by KPX co., Ltd. All rights reserved. 2011 IRAN IGMC Power System Operation Training Program
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Power Planning
Power Market
Power System
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