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Private power sale should be allowed: KERI

PUBLISHED : April 20, 2017 - 10:55

UPDATED : April 20, 2017 - 10:55

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[THE INVESTOR] A private think tank on April 20 called on the early passage of a bill for allowing the private sector to produce and sell electricity.

Parliament has yet to pass the bill introduced by the Ministry of Trade, Industry and Energy last June to open the energy prosumer market that would allow people to freely sell the power that they have produced and saved through renewable equipment, energy storage systems and electric vehicles.

“We need to restructure the power industry to foster the use of the energy storage system by households and small businesses,” said the Korea Economic Research Institute in a report.

“It is almost impossible for private businesses to enter the energy market in Korea as the country’s energy market is virtually monopolized by the state-run Korea Electric Power Corp.,” the report stated.


By Alex Lee and newswires (alexlee@heraldcorp.com)

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