[Photo from Ajou Economic DB]
The government will implement an expanded energy cashback program starting next month to encourage electricity use during the day, coinciding with peak summer demand. Additionally, from September to October, industrial electricity users will receive a 50% discount on daytime rates.
The Ministry of Climate, Energy, and Environment announced on June 28 that it will launch a consumer benefit program beginning July 1 to promote 'smart electricity use' during weekends and holidays when renewable energy generation is abundant.
This initiative comes in response to the energy security crisis stemming from the Middle East, highlighting the need for energy conservation and efficient power consumption. The ministry plans to offer cashback to consumers who reduce their electricity usage, with additional benefits for those using power during weekend daytime hours.
Starting July 1 and continuing through the end of the year, the criteria for residential energy cashback will be significantly relaxed. Previously, consumers had to reduce their usage by more than 3% compared to the average of the same month over the past two years to qualify for benefits. However, from July to December, a reduction of just 1% will be sufficient to receive cashback.
The cashback rate will also increase. Depending on the reduction rate, consumers can receive an additional subsidy of 20 to 30 won per kWh, allowing for a maximum benefit of 120 won per kWh.
To encourage power savings during the peak evening hours, the government will pilot an 'evening cashback' program for households equipped with advanced metering infrastructure (AMI). From July to August, those who reduce their usage during weekdays from 5 PM to 8 PM compared to the average of the same time over the past two years will receive 500 won per kWh in cashback.
The government will also implement policies to encourage usage during daytime hours on weekends and holidays. For two months in September and October, consumers using registered Samsung and LG smart appliances during weekend daytime hours (11 AM to 2 PM) will receive a cashback of 100 won per kWh for their usage during that time.
Furthermore, industrial users, who account for over 40% of total electricity consumption, will receive a 50% discount on their electricity rates during weekend and holiday daytime hours.
Electric vehicle users will also benefit from discounts when charging during weekends and holidays from 11 AM to 2 PM in September and October, similar to the discounts offered in the spring (March to May). However, not all charging stations will be eligible for the discount, so users should verify their status.
The energy-saving platform 'Smart Electricity Use' will allow users to check electricity rate simulations. This platform consolidates information from various related agencies to provide a unified source for information and applications.
Users can calculate potential savings by adjusting their electricity usage to off-peak hours, such as during factory operations.
A government official stated, "We plan to continuously seek ways to expand benefits that consumers can feel, reflecting changes in electricity supply and demand due to the expansion of renewable energy. We aim to promote a culture of 'smart electricity use' where consumers flexibly adjust their power consumption based on economic incentives."
The Ministry of Climate, Energy, and Environment announced on June 28 that it will launch a consumer benefit program beginning July 1 to promote 'smart electricity use' during weekends and holidays when renewable energy generation is abundant.
This initiative comes in response to the energy security crisis stemming from the Middle East, highlighting the need for energy conservation and efficient power consumption. The ministry plans to offer cashback to consumers who reduce their electricity usage, with additional benefits for those using power during weekend daytime hours.
Starting July 1 and continuing through the end of the year, the criteria for residential energy cashback will be significantly relaxed. Previously, consumers had to reduce their usage by more than 3% compared to the average of the same month over the past two years to qualify for benefits. However, from July to December, a reduction of just 1% will be sufficient to receive cashback.
The cashback rate will also increase. Depending on the reduction rate, consumers can receive an additional subsidy of 20 to 30 won per kWh, allowing for a maximum benefit of 120 won per kWh.
To encourage power savings during the peak evening hours, the government will pilot an 'evening cashback' program for households equipped with advanced metering infrastructure (AMI). From July to August, those who reduce their usage during weekdays from 5 PM to 8 PM compared to the average of the same time over the past two years will receive 500 won per kWh in cashback.
The government will also implement policies to encourage usage during daytime hours on weekends and holidays. For two months in September and October, consumers using registered Samsung and LG smart appliances during weekend daytime hours (11 AM to 2 PM) will receive a cashback of 100 won per kWh for their usage during that time.
Furthermore, industrial users, who account for over 40% of total electricity consumption, will receive a 50% discount on their electricity rates during weekend and holiday daytime hours.
Electric vehicle users will also benefit from discounts when charging during weekends and holidays from 11 AM to 2 PM in September and October, similar to the discounts offered in the spring (March to May). However, not all charging stations will be eligible for the discount, so users should verify their status.
The energy-saving platform 'Smart Electricity Use' will allow users to check electricity rate simulations. This platform consolidates information from various related agencies to provide a unified source for information and applications.
Users can calculate potential savings by adjusting their electricity usage to off-peak hours, such as during factory operations.
A government official stated, "We plan to continuously seek ways to expand benefits that consumers can feel, reflecting changes in electricity supply and demand due to the expansion of renewable energy. We aim to promote a culture of 'smart electricity use' where consumers flexibly adjust their power consumption based on economic incentives."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.