Business Field
Solar Power Plant
RPS
Solar Power Plant
Sunlight Generation Project
It is a commercial power generation business which is mainly intended to produce electricity and supply (sell) it to an electricity seller (Korea Electric Power Corporation, power generation companies obligated to supply) through the electricity market and make profits by supplying (selling) the generated electricity.
Generation Profit Structure
Solar Power Producer Annual Sales
Electricity Sales ProfitSMP
Certificate Sales ProfitsREC
Annual Sales
Annual Generation (kwh) x {SMP Price (won/kwh) + REC Price (won/kwh) x Weight}
-
01Electricity Sales Profits = Annual Generation (kwh) x SMP Price (won/kwh)
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02RCE Sales Profit = Annual Generation (kwh) x Weight x REC Price (won/kwh)
-
03Annual Generation (kwh) = Installed Capacity (kwh) x Daily Generation Time (3.6 hours on average) x 365 days
RPS, Renewable Portfolio Standard
System which makes utilities over a certain size (a supply obligor, 500,000 kW or more)
mandatory to supply more than a certain ratio (the mandatory supply) of the gross generation by using new and renewable energy
mandatory to supply more than a certain ratio (the mandatory supply) of the gross generation by using new and renewable energy
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01SMP (Contractor:Korea Electric Power Corporation, KEPC)Purchase Price from KEPC at the system marginal price
-
02REC (Contractor:Power generation company obligated to supply)Price of Supply Certificate issued by Energy Management Corporation
* Power generation companies obligated to supply (As of 2022, 24 companies)
Korea Hydro & Nuclear Power Co. Ltd, Korea South-East Power Co.Ltd., Korea Midland Power Co. Ltd, Korea Western Power Co. Ltd, Korea Southern Power Co., Ltd, Korea East·West Power Co., Ltd., Korea District Heating Corp., Korea Water Resources Corporation, POSCO Energy, SK E&S, GS EPS, GS Power, CGN YULCHON Co., Ltd, Pyeongtaek Energy Service, DAERYUN POWER Co., Ltd, S Power Co., Ltd, Pocheon Power Co., Ltd, Dongducheon Dream Power, Paju Energy Service, GS Donghae Power, Pocheon IPP Co., Ltd, Shinpyeongtaek Power Generation, Narae Energy Service, Goseong Green Power
Based on Revision dated July 2021
RPS Weight
| Division | Target Energy and Standards | Weight of Supply Certificate | |
|---|---|---|---|
| Installation Type | Detailed Standards | ||
| Solar Energy | General Site | Small Scale (less than 100kW) | 1.2 |
| Medium Scale (100kW~3MW) | 1.0 | ||
| Large Scale (exceeding 3MW) | 0.8 | ||
| Existing Facilities including buildings, etc. | Small Scale (less than 100kW) | 1.5 | |
| Medium Scale (100kW~3MW) | 1.5 | ||
| Large Scale (exceeding 3MW) | 1.0 | ||
| Water Sunlight | Small Scale (less than 100kW) | 1.6 | |
| Medium Scale (100kW~3MW) | 1.4 | ||
| Large Scale (exceeding 3MW) | 1.2 | ||
| Forest | - | 0.5 | |
| Housing | - | 1.0 | |
-
Trading MethodOnline Transaction at the new renewable one-stop integrated portal of Korea Power Exchange (onerec.kmos.kr)
REC Trading Market Type
| Trading Market Type | Contract Market | Spot Market | |
|---|---|---|---|
| Tender for Fixed Price Contract | Korean FIT | ||
| Progress Subject | Korea Energy Agency | Korea Power Exchange | |
| Target Energy Source | Sunlight | Small Sunlight | Sunlight |
| Conclusion Date | In case of a notice of tender | Always | Every Tuesday and Thursday at 10~16 pm |
| Reference | Before the conclusion date, REC can only be traded in spot. | The contents cannot be revised and cancelled after a successful bid. The outstanding orders are automatically cancelled after 16:00. |
|
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Spot MarketSell for trading hours in a two-way bidding method, the buyer trades by voluntarily bidding for the quantity and price.
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Contract MarketTrade by contracting the quantity, a price, etc. with a supply obligator through a selection contract by fixed price, Korean FIT or a self-contract
Procedures for RPS System Participation
STEP 1
Review project feasibility for site selection
STEP 2
Permission for Power Generation Project
- Not more than 3,000kW : Local Government
-Exceed 3,000kW : Ministry of Commerce Industry and Energy
-Exceed 3,000kW : Ministry of Commerce Industry and Energy
STEP 3
Permission for Development Activities
-As a solar power generation facility corresponds to a structure, it is subject to permission for development activities.
-In parallel with permission for farmland conversion, permission for mountain land conversion, etc. according to locations
-In parallel with permission for farmland conversion, permission for mountain land conversion, etc. according to locations
STEP 6
Report a construction plan
-Less than 10,000kW : Report to the local government
-More than 10,000kW : Authorized by Ministry of Commerce Industry and Energy
-More than 10,000kW : Authorized by Ministry of Commerce Industry and Energy
STEP 5
PPA Application
STEP 4
Business Registration
STEP 7
Installation Construction
-Completion of power plant based on the electricity business department
STEP 8
Inspection before Use
-Inspect the details of construction plan report (authorization) and compliance with facility standards (Korea Electrical Safety Corporation)
STEP 9
Conclusion of Power Supply Contract
-Not more than 1,000kW :
Korea Electric Power Corporation or Korea Power Exchange
-Exceed 1,000kW :
Korea Power Exchange
Korea Electric Power Corporation or Korea Power Exchange
-Exceed 1,000kW :
Korea Power Exchange
STEP 12
REC Issue/Transaction
-Apply for issue within 90 days from the last day of a month in which the power supply date belongs
-Issue : New Renewable Energy Center / Transaction : Korea Power Exchange
-Issue : New Renewable Energy Center / Transaction : Korea Power Exchange
STEP 11
Installation Check
-New and Renewable Energy Center
(Within 1 month after inspection before use)
(Within 1 month after inspection before use)
STEP 10
Report on the commencement of commercial operation
-Not more than 3,000kW : Local Government
-Exceed 3,000kW : Ministry of Commerce Industry and Energy
-Exceed 3,000kW : Ministry of Commerce Industry and Energy
Today’s Power Information
Real-time Power Supply Status
Normal
Supply Capacity
96,669 MW
Current Load
63,136 MW
Power Supply Reserve
33,524 MW
Power Supply Reserve Ratio
53.09%
Today’s SMP
(Unit:won/kWh)
| Trading Date | 2023. 12. 09(Sat) |
|---|---|
| Highest Price | 126.06 |
| Lowest Price | 100.43 |
| Average Price | 119.46 |
(Unit:won/kWh)
| Trading Date | 2023. 12. 09(Sat) |
|---|---|
| Highest Price | 215.48 |
| Lowest Price | 100.43 |
| Average Price | 140.53 |
Today’s REC
1REC = 1MWh (change according to a weight)
※ Open every Tuesday and Thursday at 10:00 ~ 16:00(Unit:won/REC)
| Trading Date | 2023. 12. 07(Thu) | Trading Volume | 125,028 |
|---|---|---|---|
| Average Price | 76,856 | Highest Price | 77,500 |
| Lowest Price | 70,100 | Closing Price | 75,800 |
