Abstract

The electricity industry is undergoing big challenges at present. There is a need to understand the implications of traditional transmission unbundling issues on electricity governance at the time of renewable energy penetration. As the interdependence between the regional power systems is increasing and the power market has more liquidity, interest in electricity governance that can enhance the coordination of power systems is growing. Four types of electricity governance according to unbundling model or the relationship between the market operator and the system operator can provide implications for Korea when considering a new form of electricity governance.