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KIM, HYUNSOOK (2) answer(s).
 
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ID:   125613


Assessing welfare impact of entry into power market / Cho, In-Koo; Kim, Hyunsook   Journal Article
Kim, Hyunsook Journal Article
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Publication 2013.
Summary/Abstract This paper calculates the welfare impact of a new entrant based on the location of entry in the Korean electricity market. We use two different models. One is the optimal fuel mix model to estimate the effect of a new entry in the long run. The other is the variable cost minimization model to assess the contribution of an existing installed private generator in the short run. A specific private generator, which has a cost advantage, saves a substantial amount of system-wide variable costs. We show that the right location for a new entrant can save power generation costs significantly, even if a new entrant does not have a cost advantage.
Key Words Social Welfare  ;  Entry  ;  Network Constraint 
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2
ID:   114297


Resource adequacy scheme in the Korean electricity market / Kim, Hyunsook; Kim, Sung-Soo   Journal Article
Kim, Hyunsook Journal Article
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Publication 2012.
Summary/Abstract In South Korea, the incentive scheme for generators to add new power generation is based on the system marginal price (SMP) and the capacity payment (CP). The infra-marginal generators receive an extra margin due to the high SMP level and the new infra-marginal generators need to be built to achieve the optimal fuel mix. However, the Metropolitan zone needs more marginal generators due to the transmission congestion and environmental regulations, but the marginal generator in the Metropolitan zone does not have adequate profits for the new investment under the current CP. This paper suggests the appropriate investment incentive scheme for different zones. The introduction of forward capacity markets for different regions creates higher capacity market prices in the Metropolitan zone than those in the Southern zone. The introduction of forward capacity market also induces a new LNG generator investment in the Metropolitan zone while only new infra-marginal generators need to be added in the Southern zone.
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