A solar panel installed at LG Electronics Inc.’s North America headquarters is seen in this photo provided by the company on July 18, 2021.
SEOUL, Oct. 13 (Korea Bizwire) — Starting from the end of this month, companies will be allowed to directly purchase electricity produced from renewable energy.
This will broaden the way for companies to participate in the RE100 campaign that calls for companies to meet their entire electricity demand with renewable energy such as wind power and solar power by 2050.
The Ministry of Trade, Industry and Energy announced on Tuesday that it will kick-start the ‘renewable energy-based electricity supply project’ from the end of this month.
This project will enable the direct supply of such electricity to end users without going through the electricity market.
Thus far, power producers and electric utilities have to trade through the electricity market in principle and cannot sell electricity derived from renewable sources separately.
The new enforcement ordinance includes a stipulation on the type of power suppliers that can directly supply such electricity.
Renewable energy power producers or a business that achieves collective resourcification by attracting multiple renewable energy power producers are among the power suppliers that can directly supply such electricity.
The new enforcement ordinance also allows renewable energy end users to directly purchase electricity in the electricity market if certain requirements are satisfied.
J. S. Shin (js_shin@koreabizwire.com)
