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Electricity Market 101
#tutorial#markets#economics#LMP
What You’ll Learn
- Fundamentals of electricity market design and operation
- Economic dispatch and market clearing mechanisms
- Locational Marginal Pricing (LMP) calculation
- Understanding congestion and transmission constraints
- Korea’s electricity market structure and reform initiatives
- Comparison with international market models (e.g., US, Europe)
Key Concepts Covered
Day-Ahead Market:
Forward market for next-day energy delivery
Real-Time Market:
Balancing supply and demand in real-time
Market Clearing Price:
Equilibrium price determined by supply-demand intersection
Ancillary Services:
Frequency regulation, reserves, and voltage support
Downloadable Resources
Resources will be available soon.