S. Korea spending $42 billion on power plants
Total power consumption is forecast to grow 1.9 percent each year on average until 2024, the Ministry of Knowledge Economy said in a statement.
The world's fifth-largest importer of oil and one of the world's fastest-growing carbon polluters says its dependency on fossil fuels will slow gradually while investment in cleaner energy will rise quickly.
South Korea is expected to generate a third of its electricity from nuclear energy in 2024, compared to 25 percent this year, according to the statement.
"A large gain in the portion of nuclear energy as of power output in 2024 is expected to contribute to a low-carbon, high-efficiency consumption structure," the statement said.
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Ontario unveils new tax breaks, subsidized hydro plan to spur economic recovery from COVID-19
TORONTO - The Ontario government's latest plan to help businesses survive and recover from the COVID-19 pandemic includes a suite of new tax breaks for small businesses and $1.3 billion to subsidize electricity bills for industrial and commercial operations.
The new measures were announced Thursday as part of Ontario's 2020 budget, which sets new provincial records for both spending and deficit projections.
The government of Premier Doug Ford says the budget will address barriers impeding long-term growth, ensuring the province forges a path to a full recovery from the pandemic.
"When the pandemic is over, Ontario will come back with a vengeance, stronger…
