| Title |
A Case Study in Korea Electricity Market Considering North American Frequency Regulation Market Rules |
| Authors |
박대현(Dael-Hyun Park) ; 노재형(Jae-Hyung Roh) ; 박종배(Jong-Bae Park) ; 박용기(Yong-Gi Park) |
| DOI |
https://doi.org/10.5370/KIEE.2020.69.4.549 |
| Keywords |
FERC(Federal Energy Regulatory Commission) order 755; Frequency Regulation Market; ESS(Energy Storage System); Pricing Mechanism; Mileage |
| Abstract |
Due to the FERC Order 755, the regulation market rules for the pricing and settlement process of North American ISO/RTO have changed. As per revision, resources that provide regulation have been become to receive an additional settlement for performance and mileage in addition to the compensation for reserve capacity according to each different market rules. This paper briefly reviews market rules, including pricing mechanisms and settlement rules of PJM and CAISO, in accordance with FERC order 755. Then, case studies are carried out for the case where the relevant rules are applied to domestic resources. The results of the case study include the merit order each resource, market price, and compensation amount and finally proposes the development direction of the domestic power market. |