Price Distortions in Korea's Electricity Market: Barriers to Renewable Integration and Reform Pathways
韓国電力市場における価格歪み：再生可能エネルギー統合の障壁と改革経路 (AI 翻訳)
Ryungyeong Lee, Minhan Yoon, Hunyoung Shin
🤖 gxceed AI 要約
日本語
本論文は、韓国の電力市場における価格シグナルの構造的歪みが再生可能エネルギーの統合とエネルギー転換目標の達成を妨げていると指摘。具体的には、送電制約、リアルタイム需給、発電機固有コストの反映不足を問題視し、LMP導入、リアルタイム市場設立、市場・系統運用の統合、価格ベース入札への移行という4つの改革パッケージを提案している。
English
This paper identifies structural price distortions in Korea's electricity market that hinder renewable integration. It proposes a holistic reform package including locational marginal pricing, real-time market, unified market-system operation, and a shift from cost-based pool to price-based bidding to align price signals with energy policy goals.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本でも電力市場改革（ベースロード市場、容量市場など）が進む中、韓国の事例は同様の課題を抱える日本にとって示唆に富む。特にLMPやリアルタイム市場の導入は、日本における再生可能エネルギーの効率的な統合と系統混雑管理の参考となる。
In the global GX context
This study offers a systematic framework for reforming electricity markets in countries with cost-based pool designs, such as Korea and Japan. It highlights how market design flaws can be a key barrier to renewable integration, providing actionable reform pathways for global energy transition.
👥 読者別の含意
🔬研究者:The paper provides a causal analysis of market design failures and a coherent reform theory for electricity markets with uniform pricing.
🏢実務担当者:Corporate sustainability teams in the energy sector can use the reform pathways to anticipate regulatory changes and grid investment opportunities.
🏛政策担当者:Regulators in countries with cost-based pool markets can draw direct lessons for aligning price signals with renewable deployment targets.
📄 Abstract（原文）
Structural distortions in price signals within the Korean electricity market, governed by a cost-based pool (CBP) and a uniform pricing mechanism, fundamentally undermine the nation's energy transition goals. The current market design fails to reflect transmission constraints, real-time supply and demand dynamics, and generator-specific costs, leading to inefficient resource allocation and hindering long-term investments in renewable energy and grid flexibility. This paper identifies the key drivers of these distortions and proposes a holistic reform package to enhance market efficiency. The package includes four key reforms: \stepcounter{excep}(\roman{excep}) introducing a locational marginal pricing system to manage transmission constraints; \stepcounter{excep}(\roman{excep}) establishing a real-time market to reflect temporal value; \stepcounter{excep}(\roman{excep}) integrating market and system operations to resolve inconsistencies; and \stepcounter{excep}(\roman{excep}) transitioning from CBP to a price-based bidding system. Each reform targets a distinct source of inefficiency. The broader contribution of this study, however, lies in showing that, under the current Korean market design, the market cannot readily provide effective price signals. These reforms therefore need to be implemented jointly to establish a coherent market design in which price signals are aligned with Korea's energy policy objectives.
🔗 Provenance — このレコードを発見したソース
- arXiv https://arxiv.org/abs/2605.09318first seen 2026-05-14 21:04:28
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