KPX President Yoo Sang-hee.

Korea Power Exchange (KPX) has begun to allow the transaction of renewable energy certificates (RECs) on the photovoltaic power that individuals and companies generate, which are put on the block, in accordance with the government’s policies to promote the new and renewable energy industries.

But the KPX has suspended the transaction of “dump power” from independent coal-fired power producers (IPPs) in a revision of the Electricity Business Act that went into effect on March 2. The move is part of the government’s steps to block new coal-fired IPPs’ entry into the power industry with the goal of reducing minute dust. 

Last year the government disclosed a plan to shut 10 coal-fired plants. 

IPPs operating coal-fired plants have so far been allowed to sell less than 50 percent of their surplus power to the KPX, thus helping them profit from surplus power while securing emergency electricity. Large-sized businesses, including POSCO, operate their own coal-fired plants with a combined power generation capacity of about 66MW across the nation. 

The effectuation of the revision bans all transactions of power generated by IPPs with coal-fired plants, which are negligible, but have an effect of blocking new IPPs’ entry into the coal-fired generation segment. Surplus renewable energy generated by individuals for their own use continues to be put on the block. 

Scores of people from power institutions in Bangladesh and Sri Lanka pose for a group photo session while attending the Korean Green Growth Knowledge Exchange, an international cooperation project for transferring Korea’s advanced experiences and expertise to developing countries. (Photos: KPX)

KPX’s KGGKE to Transfer Expertise on Power Systems to Developing Countries

The KPX has shared the advanced experience it has accumulated in the course of operating power systems with Bangladesh and Sri Lanka. The power exchange agency conducted the Korean Green Growth Knowledge Exchange (KGGKE) involving 25 people from power institutions of the two Southeast Asian countries at the education center of the KPX headquarters in Naju and the Gyeongin branch office on Feb. 27. 

The KGGKE is an international cooperation project organized by the Korea Green Growth Trust Fund (KGGTF), a partnership between the World Bank Group (WBG) and the Republic of Korea. 

The project is designed to improve developing countries’ power industries by transferring technology expertise to them. The WBG has asked the KPX leading the Korean power industry to participate in the project. 

Under the KGGKE, the KPX transferred its rich experience and expertise to the officials from the two countries by making the most of the KPX’s expert pool. Participating in the program were Bangladeshi power system operators, Ceylon Electricity Board (CEB), and the Sri Lankan Ministry of Power and Renewable Energy. 

The KPX plans to expand the educational program for developing countries to publicize the prowess of Korean power, a KPX official said. Meanwhile, KPX President Yoo Sang-hee and 20 company officials participated in a safety campaign to prevent accidents in an area around the Nampyeong Market in Naju in conjunction of the 2017 National Safety Diagnosis Drive. 

Volunteers were engaged in activities to prevent such accidents as the collapsing of embankments and elevations and obsolete, decrepit buildings during the thawing season as well as electricity-related fires. 

The KPX wants people to know how to report dangerous factors people find during their daily life. The KPX also conducted an inspection of the KPX headquarters building, serving as an opportunity to promote staff members’ awareness of safety.