SMP(System Marginal Price)

This dataset contains South Korea's Jeju Island SMP (System Marginal Price) information for 2023. The data is organized chronologically, providing hourly SMP values for each day of the year. SMP represents the marginal cost of generating electricity and is a crucial factor in determining electricity prices. For Jeju Island, which has a separate power grid from mainland Korea, this data reflects local supply and demand dynamics, including the impact of renewable energy sources. The dataset offers valuable insights for energy market analysts, policymakers, and researchers studying electricity pricing patterns, grid management, and the integration of renewable energy in isolated power systems. It can be used for various analyses, including price forecasting, demand response strategies, and energy policy evaluations specific to Jeju Island's unique energy landscape.