Justice Party: "Direct Renewable Energy Contracts with Large Corporations Are Not 'Green New Deal'"

[Asia Economy Reporter Park Cheol-eung] The Justice Party has expressed opposition to the Democratic Party of Korea's push for direct contracts between large corporations and renewable energy electricity producers, as reported by Asia Economy.

On the 13th, Oh Hyun-joo, spokesperson for the Justice Party, stated in a briefing, "According to a report by a media outlet, Kim Seong-hwan, head of the Korea New Deal TF under the COVID-19 National Crisis Response Committee, expressed his intention to include provisions in the detailed implementation plan of the Korean New Deal allowing companies to enter into Power Purchase Agreements (PPA) with renewable energy electricity suppliers." He added, "While we fully agree that the electricity supply and sales, which have been monopolized by Korea Electric Power Corporation (KEPCO), need to change in line with trends toward regional decentralization and expansion of renewable energy, opening the renewable energy market to large corporations is a completely different issue."

He continued, "This would simply change the subject of the monopoly and recognize exceptions to the power industry structure that prohibits simultaneous electricity production and sales. There are also concerns that this could lead to electricity price increases."

Spokesperson Oh emphasized, "If the power market is opened to large corporations without considering the expansion of renewable energy based on public enterprises and local governments, as well as the participation of various local residents' cooperatives, it will result in a setback to strengthening public interest in the post-COVID era. The Democratic Party of Korea must keep in mind that if it continues to deregulate and open the power market to large corporations, the 'Korean New Deal' will lose its qualification to be called a Green New Deal."

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