The charge towards Korea''s clean energy future has created the need for new forms of power capacity to ensure the reliability of the power grid while balancing the natural variability of renewable power. Demand Response is one of the best options for balancing renewables. The Korea Power Exchange (KPX) allows Virtual Power Plants (VPPs) to offer Demand Response through a market mechanism to ensure the stability and sustainability of the power grid. Our VPP allows energy users to offer Demand Response into the wholesale electricity market and to get paid for doing so.
To manage electricity supply in case of an emergency, load curtailment can be requested by the KPX if the reserve power level is in the "preparation" or "notice" stages (less than 6.5 GW of electricity demand reserve available), to reduce demand on the system.
There are other Demand Response programs where participation is voluntary. These include Economic, Peak Demand and Fine-dust Demand Response, which can be done without a request for demand reduction by the KPX.
Under-frequency Demand Response is is a program where businesses reduce the demand for electricity immediately when the supply and demand of electricity is unstable and a frequency drop occurs.When the grid frequency drops below a certain frequency (59.85 Hz in the first phase and 59.65 Hz in the second phase), demand resources automatically reduce their electricity consumption for 10 minutes and are compensated by selling the reduced electricity consumption to the energy market.
We manage 105 MW of behind-the-meter Battery Energy Storage installed capacity globally today. We are also growing our world-leading electric mobility footprint, with 25,000 public charging points worldwide.
We see great opportunity for growth and value creation in the local market in the electrification of transportation and vehicle-to-grid technology, BESS, distributed energy generation, and more.
Electricity generation in Korea is heavily dependent on coal, which represents over 40% of total generation. The vast majority of the remaining electricity generation derives from natural gas and nuclear energy, in roughly equal shares. Renewable energies account for a growing but still small proportion, and are expected to reach 21.6% of total electricity generation by 2030. Korea''s power grid is an isolated system with no cross-border transmission lines; therefore, electricity demand is met entirely through local production.
Korea has an electricity emergency response manual outlining response procedures in the event of an electricity supply emergency. There are four levels of electricity supply emergency: concern, alert, caution and serious. Depending on the level of emergency, demand restraint measures, load-shedding and the use of black-start generators can be ordered.
Korea Power Exchange (KPX), which operates under the umbrella of theMinistry of Trade, Industry and Energy (MOTIE), is the sole transmission system operator (TSO) for electricity supply in Korea. Korea Electric Power Corporation (KEPCO), also majority-owned by the government, is responsible for transmission facility management as the asset owner.
The national power grid is an isolated system; there are no cross-border transmission lines. In the long-term, network interconnections, such as the Asian Super Grid project, might allow electricity trade between Northeast Asian countries, contributing to the security of supply.
Since January 2017, the installation of an energy storage system (ESS) system is mandatory for newly built public buildings. Batteries are associated with small-scale photovoltaic power generation plants and KEPCO regulates frequency on the network using its ESS. ESS''s batteries are associated with small-scale photovoltaic power generation plants and KEPCO regulates frequency on the network using its ESS. The market of ESS has been growing quickly, driven by government policy.
Korea has an electricity emergency response handbook outlining response procedures in the event of a supply emergency, and each company involved in the sector is required to establish its own Emergency Operation Procedure (EOP), which is to be updated several times per year.
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