As power systems grow more complex and power demands increase, the fault current tends to gradually increase. In the near future, the fault current will exceed a circuit breaker rating for some substations, which is an especially important issue in the Seoul metropolitan area because of its highly meshed configuration. Currently, the Korean power system is regulated by changing the 154 ㎸ system configuration from a loop connection to a radial system, by splitting the bus where load balance can be achieved, and by upgrading the circuit breaker rating. A development project applying 154 ㎸ Superconducting Fault Current Limiter(SFCL) to 154 ㎸ transmission systems is proceeding with implementation slated for after 2010. In this paper, the resistive and inductive SFCLs are applied to re-duce the fault current in Korean power system and their technical and economic impacts are evaluated. The results show that the application of SFCL can eliminate the need to upgrade the circuit breaker rat-ing and the economic potential of SFCL is evaluated positively.

A new method to evaluate the protection capability of distribution systems is reported in this paper. This work describes the fuzzy evaluation attributes and aggregation method of evaluation results based on a hierarchical model and the modified combination rule. An evaluation grade index called "protectability" is proposed and is expected to be a very uscful tool in defining an optimal protection and realizing the adaptive protection.rotection.

In this paper, the comparative steady-state operating performance analysis algorithms of the stand-alone single-phase self-excited induction generator (SEIG) is presented on the basis of the two nodal admittance approaches using the per-unit frequency in addition to a new state variable de-fined by the per-unit slip frequency. The main significant features of the proposed operating circuit analysis with the per-unit slip frequency as a state variable are that the fast effective solution could be achieved with the simple mathematical computation effort. The operating performance results in the simulation of the single-phase SEIG evaluated by using the per-unit slip frequency state variable are compared with those obtained by using the per-unit frequency state variable. The comparative operating performance results provide the close agreements between two steady-state analysis performance algorithms based on the electro-mechanical equivalent circuit of the single-phase SEIG. In addition to these, the single-phase static VAR compensator; SVC composed of the thyristor controlled reactor; TCR in parallel with the fixed excitation capacitor; FC and the thyristor switched capacitor; TSC is ap-plied to regulate the generated terminal voltage of the single-phase SEIG loaded by a variable inductive passive load. The fixed gain PI controller is employed to adjust the equivalent variable excitation capacitor capacitance of the single-phase SVC.

In this paper, the power conditioner composed of the stand-alone single-phase squirrel cage rotor type self-excited induction generator (SEIG) driven by prime movers such as a wind turbine and a micro gas turbine (MGT) is presented by using the steady-state circuit analysis based on the two nodal admittance approaches using the per-unit frequency in addition to a new state variable defined by the per-unit slip frequency along with its performance evaluations for the stand-alone energy utilizations. The stande-alone single-phase SEIG operating performances in unregulated voltage control loop are then evaluated on line under the conditions of the speed change transients of the prime mover and the stand-alone electrical passive load power variations with the simple theoretical analysis and the efficient computation processing procedures described in the part I of this paper. In addition, a feasuible PI controlled feedback closed-loop voltage regulation scheme of the stande-alone single-phase SEIG is designed on the basis of the static VAR compensate. (SVC) and discussed in experiment for the promising stand-alone power conditioner. The experimental operating performance results are illustrated and give good agreements with the simulation ones. The simulation and experimental results of the stand-alone single-phase SEIG with the simple SVC controller for its stabilized voltage regulation prove the practical effectiveness of the additional SVC control loop scheme including the PI controller with fast response characteristics and steady-sate performance improvements.

To ensure resource adequacy in restructured electricity markets, policymakers have adopted installed capacity (ICAP) markets in some regions of the United States. These markets ensure that adequate generation exists to satisfy regional Loss of Load Probability(LOLP) criterion. Since the incentives created through ICAP mechanisms directly impact new generation and transmission investment decisions we examine one important factor that links ICAP markets with LOLP calculations;, determining the amount of ICAP credit assigned to particular generation units. First, we review and critique the literature on electric power systems' market failure resulting from demand exceeding supply. We then summarize the method of computing (the LOLP) as a means of assessing reliability and relate this method to ICAP markets. We find that only the expected value of available generation is used In current ICAP markets while ignoring the second and higher order moments, which tends to mis-state the ICAP value of a specific resource. We then consider a proposal whose purpose is to avoid this ICAP assignment issue by switching from ICAP obligations to options. We find that such a proposal may fail to not provide the benefits claimed and suffers from several practical difficulties. Finally, we conclude with some policy recommendations and areas for future research.

The economic operation of a utility in a deregulated environment brings about optimization problems different from those in vertically integrated one［1］. While each utility operates its own generation capacity to maximize profit, the market operator (or system operator) manages and allocates all the system resources and facilities to achieve the maximum social welfare. This paper presents a sequential application of non-cooperative and cooperative game theories in analyzing the entire power transaction process.

This paper presents a schematic process based on the method of eliminating dominated strategies to obtain the optimal bidding strategy Pursuing the Nash equilibrium Point. The Proposed approach is demonstrated for a bidding game in a generation competitive market with 2-dimensional bidding strategy vectors constituting a price-quantity strategy curve.

At present the electric power industry in Korea is going through a major restructuring process. The restructuring is motivated by a desire to reduce electricity supply costs, to attract new in-vestment in modern generation, transmission and distribution facilities, and to stimulate innovation in the wholesale production and the retail supply of electricity. The experience to date shows that restructuring of electric power industry in the US, however, is marred with a number of problematic market performances including unreasonably high prices at wholesale. This paper investigates the important role of Power Exchange for stabilizing electric power industry in transition by offering various financial products. These financial products are used for risk hedging by the market participants. The paper focuses on the risk hedging by an individual supplier and derives an explicit decision rule that incorporates the attitude towards the risks. In addition to providing the financial products for risk hedging by market participants, the Power Exchange plays another very important role of financial safeguard system. Because of its unique characteristics, the Power Exchange is well suited for financial surveillance where it performs the early detection of unsound financial (and to a large extent operational) practices on the part of any system users and protect the system integrity and the market participants from the consequences of a default in the clearing structure.