전력시장 소매가격의 규제가 사회후생에 미치는 영향 = An Effect of Retail Price Regulation on the Social Surplus in the Korean Electricity Market

다국어 초록 (Multilingual Abstract)

We estimate how much KEPCO can save their loss and how much social welfare can be increased by applying the real-time pricing instead of current regulated retail price in the electricity market in order to analyze the problem of the regulated retail price which is fixed below the marginal cost. We estimate the demand functions of peak time and off-peak time in summer(June to August) and winter(December to February). We construct the supply function based on hourly step-wise linear marginal cost functions, too. We find that the increase of social welfare will be 67 billion won in summer if the fixed retail price is changed into the real-time pricing scheme. The total 705 billion won will be transferred from consumer surplus to producer surplus and the rest(67 billion won) will be saved from the reduction of deadweight loss among KEPCO`s loss. In winter, the increase of social surplus will be 225 billion won and 1,174 billion won of KEPCO`s loss will be transferred from consumer surplus. As a result, we conclude that the regulation of the retail price in the electricity market induces the social welfare loss and KEPCO suffers a huge loss.

참고문헌 (Reference)

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8 Goldman, C., "Does Real Time Pricing Deliver Demand Response? A Case Study of Niagara Mohawk’s Large Customer RTP Tariff" Energy Analysis Department, Lawrence Berkeley National Laboratory 2004

9 남일총, "CBP 전력시장 경쟁강화를 위한 시장제도 선진화" KDI 2010