SEOUL, May 2 (Korea Bizwire) – The latest data from the Korea Energy Agency has revealed that new and renewable energy sources accounted for 6.61 percent of total electricity generation in South Korea in 2015, up from 4.92 percent in 2014 and surpassing 5 percent for the first time. The improvement was largely attributed to [...]
SEOUL, March 27 (Korea Bizwire) – The demand for household solar panels is soaring, with bigger subsidies on offer from the Korea Energy Agency and local governments, as households try to dodge sky-high electricity bills that dumbfounded them last summer. Starting this year, the KEA is providing 3.51 million won ($3,148) in subsidies for a [...]
POHANG, Feb. 15 (Korea Bizwire) – Electricity generated from geothermal energy will soon be distributed to South Korean households for the first time in history. The electricity will come from Pohang, a city on the southeast coast of the Korean Peninsula, which has been making use of geothermal energy some four kilometers below the surface [...]
SEOUL, Feb. 1 (Korea Bizwire) – The inter-Korean gap in electricity generation capacity hit an all-time high in 2015, data showed Wednesday, pointing to the widening difference in economic power between the rivals. South Korea’s power generation capacity stood at 97.6 gigawatts (GW) as of 2015, 13.1 times more than North Korea’s 7.4 GW, according [...]
SEOUL, Nov. 30 (Korea Bizwire) – In an effort to promote new and renewable energy, and stabilize fluctuating prices, the government has decided to institute “20-year fixed-price contracts” that will better guarantee business profits as well as attract more investment in the sector. According to the Ministry of Trade, Industry & Energy, the government will [...]
SEOUL, Oct. 26 (Korea Bizwire) – The Korea Electric Power Corporation announced Tuesday that it will spend 2.5 trillion won ($2.2 billion) to remove utility poles and move power lines and other electricity installations underground over the next two years. Although utility poles have steadily disappeared from developed neighborhoods in city areas, many still remain [...]
SEOUL, Oct. 24 (Korea Bizwire) – Recent data from the Korea Electric Power Corporation (KEPCO) showed that electricity consumption per capita for the USFK was almost ten times the average rate for the Korean military, again raising questions over excessive energy consumption by American military personnel stationed on the peninsula. According to KEPCO, electricity consumption [...]
SEOUL, Oct. 17 (Korea Bizwire) – More homes in South Korea have installed solar panels in the past few years to reduce the cost of electricity, data showed Monday. According to the data compiled by Korea Electric Power Corp. (KEPCO), some 165,449 homes had rooftop solar panels as of June this year to make up [...]
SEOUL, Sept. 30 (Korea Bizwire) – Some 670,000 households were unable to pay their electricity bill this year as of July, a report from the state energy supplier showed Friday, a tally that may increase after record summer heat is estimated to have jacked up the bill from using air conditioning. The report, submitted by [...]
SEOUL, Aug. 22 (Korea Bizwire) – August 22 is Korea’s Energy Day. First held in 2004, the day was established to raise awareness of the importance of saving energy, after August 22, 2003 marked Korea’s highest-ever day of electricity consumption. To celebrate this year’s event, cities and provinces across South Korea are promoting ‘lights-out’ events [...]