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KEPCO Reports Snowballing Deficits Despite Higher Demand for Electricity

KEPCO Reports Snowballing Deficits Despite Higher Demand for Electricity

SEOUL, Nov. 1 (Korea Bizwire) — South Korea’s state power utility has reported snowballing deficits despite an increase in sales of electricity. The Korea Electric Power Corp. (KEPCO)’s sales of electricity for the January to August period of this year stood at 370,854 gigawatt hours (GWh), up 4 percent from a year ago. However, due [...]

KEPCO Eyes More Coal-fired Power Generation to Cut Costs

KEPCO Eyes More Coal-fired Power Generation to Cut Costs

SEOUL, Oct. 5 (Korea Bizwire) — South Korea’s state power utility said Wednesday it plans to increase coal-fired electricity generation temporarily this year in an effort to cut costs and boost financial health. Korea Electric Power Corp. (KEPCO) said it will produce 12.8 terawatt hours (TWh) with coal this year instead of using liquefied natural [...]

KEPCO Units Plan to Slash Investment in Renewable Energy

KEPCO Units Plan to Slash Investment in Renewable Energy

SEOUL, Sept. 9 (Korea Bizwire) — Six affiliates of the state-run Korea Electric Power Corp. (KEPCO) plan to cut their investment in renewable energy over the next five years as they are under pressure to improve their worsening financial health, according to a report on Friday. The six affiliates, including Korea Energy and Korea East-West [...]

KEPCO Completes New Solar Farm Construction in Guam

KEPCO Completes New Solar Farm Construction in Guam

SEOUL, July 20 (Korea Bizwire) — South Korea’s state-run Korea Electric Power Corp. (KEPCO) said Wednesday it has built a 60-megawatt solar farm in Guam, a move that could help reduce the U.S. Pacific territory’s dependence on imported oil and boost access of its people to clean electricity. KEPCO said it held a ceremony earlier [...]

S. Korea to Raise Q3 Electricity Rate amid High Energy Costs, Inflation

S. Korea to Raise Q3 Electricity Rate amid High Energy Costs, Inflation

SEOUL, June 27 (Korea Bizwire) — South Korea said Monday it will raise electricity rates for the third quarter and natural gas prices for civilian use starting next month amid mounting inflationary pressure due to high global energy costs. The state-run power firm Korea Electric Power Corp. (KEPCO) said it will raise the adjusted unit [...]