Modeling of potential interstate electricity markets in northeast asia

The paper presents a mathematical model for and a methodical approach to estimation of equilibrium prices and volumes of electricity trade in the interstate electricity markets taking into account expansion of generating capacities of market participants and interstate electricity network infrastructure of the market. The results of preliminary studies on a potential joint electricity market in Russia´s Far East and Republic of Korea are given. They were obtained with the help of developed model and methodical approach and compared with the results of calculations obtained by the conventional mathematical model for optimization of a perspective mix of generating capacities, transfer capabilities of transmission lines and operating conditions of the interconnection.