In 2002, the South Korean electricity industry was restructured with the formation of six generation companies, KEPCO serving as a single-buyer responsible for transmission and distribution, KPX serving as electricity market and system operator, and KOREC as market regulator. KPX plays a pivotal role in South
Korea's electric power industry. KPX is an independent organization with numerous responsibilities including:
• Coordinate the flow of electricity through all transmission networks of South Korea.
• Ensure the safe and reliable operation of the grid.
• Operate the competitive electricity market (Cost-Based Pool).
• Plan long-term generation and transmission expansion to secure reliable power supply.
• Provide its members/customers with timely information to aid in their business decision making.
To support its long-term planning function KPX has enlisted the services of ADICA to train its staff on methods and tools for power system expansion planning within a competitive market environment. This 4-month training program was initiated in September 2006.
Of particular interest to KPX is ADICA’s new Electricity Market Complex Adaptive System (EMCAS) software, which was developed by Argonne National Laboratory to meet the growing need for advanced modeling approaches that simulate how electricity markets evolve over time and how participants in these markets may react to the changing physical, economic, financial, and regulatory environments in which they operate. The
agent-based modeling approach in EMCAS facilitates the representation of GenCos as independent and decentralized agents interacting with other agents operating in a complex, multi-dimensional environment.
The Capacity Expansion Module of EMCAS simulates power market expansion decisions and strategies based on market player expectations about the future in the face of uncertainty. Power company agents make build decisions based on limited information and can adjust expansion plans (i.e., accelerate, postpone, or cancel construction) as the simulated future unfolds.
During the training, the KPX trainees will collaborate with members
of the EMCAS development team at Argonne’s Center for Energy,
Environmental and Economic Systems Analysis (CEEESA) in
applying EMCAS to conduct an initial long-term planning study for
Korea. A screen capture from a sample EMCAS representation of
the Korean electricity system is displayed at right.
About ADICA
ADICA is a leading provider of energy industry consulting and cutting-edge electricity system analysis software for Government Agencies and Energy Companies worldwide. Headquartered in Oak Brook, Illinois, USA, ADICA specializes in the application of innovative agent-based modeling software created by Argonne National Laboratory for simulating electricity markets. ADICA is worldwide distributor of the EMCAS software.
About Argonne
Argonne National Laboratory is one of the U.S. Department of Energy's largest research centers. It is also the nation's first national laboratory, chartered in 1946. Today, the laboratory has about 2,900 employees, of whom about 750 hold doctorate degrees. Argonne's annual operating budget of about $475 million supports upwards of 200 research projects, ranging from studies of the atomic nucleus to global climate change research. Print Back to All Articles
