SEJONG, Jul. 7 (Korea Bizwire) — South Korea’s electricity consumption is expected to hit a record high this summer as the sweltering heat is expected to boost demand for air conditioners and fans, the state-run power market said Friday. The maximum electricity usage will likely reach a record 86.5 million kilowatts during the summer season, [...]
SEOUL, Jul. 6 (Korea Bizwire) — The volume of electricity generated from renewable energy hit a record high last year, aided by a surge in power generation coming from biomass and by-product gas, data showed Thursday. According to the data compiled by the Korea Power Exchange, a total of 19.35 million megawatt-hours worth of electricity [...]
SEOUL, June 2 (Korea Bizwire) – The supply of electricity in South Korea experienced little to no disruption when the newly introduced temporary shutdown of eight aging coal-fueled power plants took effect for the first time yesterday. According to the Korea Power Exchange (KPX), the daily maximum electricity demand was estimated at 68.85 million kW [...]
SEOUL, June 1 (Korea Bizwire) – The gap in the cost of electricity generated by coal-fired power plants and LNG power plants is closer than ever, the Korea Power Exchange (KPX) said. According to data released by the KPX yesterday, the unit fuel cost of coal powered electricity was 50.22 won (US$0.045), while the unit [...]
SEOUL, May 26 (Korea Bizwire) – POSCO ICT Co., a unit of South Korea’s leading steelmaker POSCO, said Thursday it plans to generate power from solar panels set up on rooftops of buildings and sell it to the state-run Korea Power Exchange. The company said the project involves generating small-volume power of around 1 megawatt. POSCO ICT plans to install infrastructure at its headquarters and factories, and gradually expand the production capacity. “We have a bright outlook on the [...]
SEOUL, May 20 (Korea Bizwire) — The City of Seoul registered a virtual power plant to sell 5MW of electricity saved by its 18 affiliated institutions (including its water recycling centers); the first time a local government body has done so. Seoul announced on May 18 that it registered a virtual power plant from 5MW of electricity [...]