KPX Successfully Wraps Up 18th Power Market Workshop

Prof. Park Ho-jung of Korea University speaks on the theme “Current Status of Carbon Credit Trading System and Direction of Institutional Reform.” (Photos: KPX)

Korea Power Exchange (KPX) successfully concluded the 18th Power Market Workshop at the Textile Center in Daechi-dong, Seoul, on Dec. 8.

Power Market Workshop 2023, organized by KPX’s Market Operation Division, was the eighth rendition. The annual event was launched in 2003.

About 150 officials from power market entries, including Korea Electric Power Corp., power utilities and the Cost Evaluation Committee participated in the latest workshop.

Power industry people who have contributed to the operation and development of the power market were presented with prizes and experts made theme presentations.

During the workshop, Hwang Bong-hwan of the Market Operation Division at KPX spoke on the analysis of the outcomes of the 2023 operation of the power market while Prof. Cho Hong-jong of Dankook University presented on the theme “International Energy Environment Changes and Energy Security.”

Prof. Park Ho-jung of Korea University lectured on the theme “Current Status of Carbon Credit Trading System and Direction of Institutional Reform” while Park Hee-beom, head of the Hydrogen Policy Team at KPX touched on the theme “Trends of Hydrogen Power Generation Bidding Market and Outlooks.”

Kim Sang-il, chief of the Power Market Division at KPX, said, “We will make every effort to make the Power Market Workshop an knowledge exchange opportunity to share the pending issues of the power market and explore ways of developing the market.”

Korea Power Exchange conducted a power supply emergency drill designed to ensure the stable supply of power during winter in cooperation with related organizations at KPX’s power supply countermeasure situation room on Dec. 12.

KPX Conducts ‘Power Supply Emergency Drill’ with Related Organizations

As the winter power supply countermeasure period is set in until Feb. 29, Korea Power Exchange conducted a power supply emergency drill designed to ensure the stable supply of power during winter in cooperation with related organizations at KPX’s power supply countermeasure situation room on Dec. 12.

This winter’s power supply management is expected to be stable on the back of rising power generation facilities and minimizing maintenance.

But the drill was conducted under a scenario of extreme situations, such as the occurrence of the coldest-ever spell to bush fires, which could undermine power supply capabilities.

Participants of the drill were KPX, KEPCO, Korea Electric Safety Corp. (KESCO) and Energy Agency.

Participatory organizations conducted countermeasures corresponding to each emergency stage and looked into emergency contact networks, such as hot lines and the spreading of situations vis SMS and fax messages.

In order to secure additional reserve resources, they inspected demand responses, increased operation of coal-fired power units, readjusting of distribution transformer taps, remote control use of heaters and blackout processes among KEPCO and regional headquarters.

KPX Chairman Chung Dong-hee told officials of related organizations that today’s drill was a good opportunity to look into each emergency stage measures and cooperative regimes with related organizations, and I urge you to do your utmost to fulfill our most significant task of ensuring this winter’s stable power supply around the clock without negligence.”

KPX Designated as ‘2023 Outstanding Disaster Response Institution’

Korea Power Exchange was awarded the “2023 outstanding disaster response institution” by the minister of trade, industry and energy in recognition of the preemptive steps it for Typhoon Khanun and cyber terror threats.