Kepco bent to complete Smart Grid tech ASAP

Calling it the new source of profit creation, Kepco's main concern is how soon it can complete its smart grid technology.

“The smart grid, so-called smart electricity, is a future power grid which integrates digital technology with the traditional power grid enabling customers a real-time two-way communication system with suppliers,” stated Korea Electric Power Corporation. “This means that the power grid paradigm is shifting from quantity to quality, from supply to demand-side management, and from centralization to decentralization,” it added.

There must be at least a 10% reserve rate for generating capacity at peak times, specifically during summer and peak times. In order to correct this inefficiency, the Smart Grid adopts real time pricing and provides the advanced metering indicator which enable customers to better manage their power consumption.

Kepco expects that the smart grid to have great effects on the entire industrial sector including communication, home appliances, construction, vehicles, energy and electric power.

“Considering the benefits of the smart grid, determining whether KEPCO should adopt it is no longer the issue. The important thing is how soon can Kepco complete it. At this very moment, lively discussions on the smart grid are being held worldwide,” said a Kepco statement. “This new type of power grid, the smart grid, which is environmentally-friendly, energy-effective, and customer-oriented, is in the limelight as the new source of profit creation,” it added.

Kepco earlier announced that it is planning to incorporate smart grid technology in expanding in the Philippine wind and hydro power plant projects.