One idea that science fiction has incorporated into our imagination is that science will find an energy source that can meet the needs of our civilization for ever.
But what if the literature is wrong? What if the problem is not finding new renewable energies or sources but rather optimizing available resources so that we don’t waste what we do have? The Korean company Electric Power Corporation has been excited about this idea for a while now.
KEPCO (Korea Electric Power Corporation) is the largest state power company in South Korea. It deals with the generation, transmission and distribution of electricity and the development of nuclear and wind power projects
Currently its activity assumes 93% of power generation in the country. It has a production capacity of more than 65,000 MW.
KEPCO owns 6 power generating companies, 4 subsidiaries in related business areas and has participation in 4 other affiliates.
After successfully providing power within the country, the company has set the international market as a growth area, expanding to the Middle East, Southeast Asia and South America.
In 2010, KEPCO announced a 7 billion dollar investment for smart grid development. But what does this grid consist of?
The Smart Grid system is an efficient electricity management network based on the use of computer technology. It optimizes production and distribution of energy and therefore balances offer and demand.
Basically, it’s a great ally of the renewable energies. Its bidirectional system allows customers to both consume and produce energy through the same network.
The results include the potential for huge engergy savings and cost reduction, as well as an increased visibility and transparency around the consumption data of users. but most importantly, it will reduce CO2 emissions as it decreases fossil fuel consumption.
The future of our energy consumption is one of the most concerning issues in our contemporary history. Business Initiative Directions wanted to recognize the value of this company’s concerns handing the Quality Summit Gold Award at the convention held in New York in 2000.
Stepping up to new challenges, innovation and capacity to go with the times, together with an economic profitability are hallmarks of excellence in a global business from our era.