After unprecedented electric power shortages this summer, the government said on Monday it would renovate the nation’s electricity management system by applying advanced information communication technology.
The Ministry of Trade, Industry and Energy announced a new energy management plan to help improve energy efficiency as a part of the government’s creative economy drive.
The ministry’s objective is to operate a comprehensive energy management and energy storage system so that companies may generate or save energy at night when electricity fees go down. The saved energy may be used later during peak hours or sold to the Korea Power Exchange.
“A fundamental shift of paradigm was needed to replace stopgap measures, such as power-saving campaigns,” said Minister Yoon Sang-jick. “The new energy management system will not only achieve a better balance in supply and demand, but create a related market worth 3.5 trillion won ($3.1 billion) by 2017.”
In order to encourage the use of the Energy Storage System, the ministry said it will also offer various financial incentives to companies that use the technology.
“Companies that purchase 300,000 kilowatts, or 1,000 kilowatts in the case of public corporations, will be recommended to install an ESS facility within their manufacturing site,” said an official.
The measure is nonbinding but may eventually become compulsory, he added.
“In order to maximize the effect of the ESS, we will increase the gap in electricity prices for light-duty hours and the peak hours,” the minister said, pledging reforms by October. “We hope to reduce as much as 1 million kilowatts of peak-hour electricity use by 2017.”
To monitor the energy situation on a real-time basis, the government will encourage the introduction of the Energy Management System, particularly among high-energy-consuming industries and public buildings.
Samsung SDI, in response to such energy management calls, recently installed an ESM and an ESS facility, with the capacity to reduce peak-hour power usage by 1 megawatt.
“As for small and medium-sized companies, the ministry will support up to 50 percent of the initial installation fees,” the minister said.
By Bae Hyun-jung (email@example.com