The Transactions of The Korean Institute of Electrical Engineers (전기학회논문지)

The Korean Institute of Electrical Engineers (대한전기학회)
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A Study on the Capacity Payment in Cost Based Pool

비용기반 전력시장에서의 용량요금 산정방안에 관한 연구

  • 한석만 (홍익대학 전기정보제어공학과) ;
  • 김발호 (홍익대 전기정보제어공학과)
  • Published : 2008.09.01
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Abstract

In the past vertically integrated power system, the power utility forecasted power demand and invested new power plants to keep a system adequacy. However, in the competitive electricity markets, a principle part of the capacity investment is market participants who decided the investment to maximize their profit. Especially, one of the main factors in their long-term decision making is the retrieval of fixed costs (construction costs). This paper presents the capacity payment in electricity power markets. The capacity payment (CP) in Cost Based Pool (CBP) is needed to recover fixed costs. However, CP in CBP was applied not only recovering fixed costs but also ensuring supply reliability. In order to operate harmonious power markets, pool needs reasonable CP mechanism. This paper analysis CP using capacity proportion and Reliability Pricing Model (RPM).

Keywords

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