Status and perspective of demand resource market in Korea´s electric power industry

This paper calls attention to the demand resource market in Korea which opened in 2008 to reduce customers´ consumption at critical times and, at the same time, secure the load that can be shut down. In Korea, the demand resource market is operated by either forward market or spot market. The discussion here is limited to the operations of the demand resource spot market. As the demand response program has matured in the smart grid environment, KPX (Korea Power Exchange) will shortly complete the development of the real-time demand resource trading system, taking into account an integrated dispatch system.