South Korea Considers Plans To Encourage The Use of Enery Storage

Announced on Sunday, in order to prevent possible power shortages, the South Korean government considers mandatory use of energy storing equipment as well as an overhaul of electricity rates.

According to the Ministry of Trade, Industry and Energy, the Government will first encourage the use of Energy Storage System (ESS) and energy management system (EMS) by large private companies and public offices that consume large amounts of electricity. If the systems prove helpful or if private companies fail to meet government expecations, the government may consider mandatory use of such systems.

The government is expected to revise its electricity rate system to expand the gap between the lowest and highest price of electricity during the course of a day in order to encourage the use of such systems. Ongoing efforts to cut power consumption may help reduce the country’s peak consumption by up to 1 million kilowatts, only about 1.3 percent of its peak demand.

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