KIEE - The Transactions of the Korean Institute of Electrical Engineers

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The Transactions of the Korean Institute of Electrical Engineers

The Transactions of the Korean Institute of Electrical Engineers

ISO Journal TitleTrans. Korean. Inst. Elect. Eng.

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Title	A Study of Restructured Residential Electricity Pricing toward the Competitive Power Market
Authors	김민정(Kim, Min-Jeong)
DOI	https://doi.org/10.5370/KIEE.2014.63.7.889
Page	pp.889-895
ISSN	1975-8359
Keywords	Residential electricity pricing ; Progressive electricity rates ; Restructured residential electricity pricing ; Time-of-use ; Real-time pricing
Abstract	Korea electric power industry had been under vertical monopoly but is typically getting restructured for free competition. An ideal pricing system under the competitive market system is 'unbundled pricing system' and 'marginal pricing system', but the current pricing system still adheres to the traditional bundled system and the average cost pricing system. Especially, progressive electricity rates for residential use reflect governmental policy-making which is focused on income redistribution & welfare, industrial supports and energy saving. This study proposes new and reasonable residential electricity pricing systems which are Time-Of-Use (TOU) and Real-Time Pricing (RTP) to reflect variations in the wholesale price of electricity. It also presents examples of various tariffs for residential electricity pricing systems.

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