KEPCO investing over $7 billion in smart grid
Of the total investment 400 billion won per year will be spent in the next five years, 2.3 trillion won through 2020 and the remainder through 2030 to upgrade power transmission and distribution systems and switch meters, the company said in a statement.
South Korea said in early 2010 that it aimed for spending of 27.5 trillion won over the next two decades on smart grids to make electricity distribution more efficient, reduce greenhouse gas emissions and save $26 billion in energy imports.
The Organization for Economic Co-operation and Development's fastest-growing carbon polluter and the world's No.5 oil importer wants to create a nationwide smart grid by 2030 for an electricity market worth 68 trillion won.
In a smart grid, computers and sensors installed at power plants, substations and along power lines signal control centers that better manage the flow of electricity.
KEPCO added the investment would help it lift the proportion of power nationwide drawn from renewable sources, including solar and wind power, to 11 percent, and to target overseas markets with related technology.
Related News
New Jersey, New York suspending utility shut-offs amid coronavirus pandemic
NEW JERSEY - New Jersey and New York utilities will keep the power, heat and water on for all customers in response to the coronavirus emergency, both states announced Friday.
Major utilities have agreed to suspend utility shut-offs, a particular concern for people who may be out of work and cannot afford to pay their bills.
“No utility can turn off service … if a person cannot pay their bill as a result of responding to this virus situation,” said New York Gov. Andrew Cuomo during a press conference Friday.
Utilities in New York have voluntarily agreed to this measure, according to the…
