Saving City Gas Earns Incentives... Energy Corporation Implements Demand Reduction Program

Incentives Provided for Reducing Usage by More Than 15% Compared to February-March Last Year

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Korea Energy Agency, in collaboration with Korea Gas Corporation, will implement the 'City Gas Demand Reduction Program' starting from the 24th to promote the reduction of winter city gas (LNG) demand and ensure supply stability.

This program provides incentives to energy-intensive workplaces that voluntarily participate in reducing city gas demand. Industrial sites and buildings using city gas that report their energy usage and reduce consumption by more than 15% compared to February-March of last year can receive incentives.

Specifically, for buildings, if the reduction is 15% or more, 600 KRW per 1 GJ (gigajoule) of the reduced amount will be paid; for reductions between 7% and less than 15%, 300 KRW per 1 GJ will be paid. For industrial sites, 20% of the reduced amount will be supported if the reduction is 15% or more, with the support rate based on the industrial wholesale rate (excluding VAT) during the energy-saving period of February to March.

Those wishing to participate can apply through the dedicated website by the 28th.

An official from the Energy Agency stated, "Energy-intensive workplaces can save costs through energy-saving efforts and also receive incentives, which will be beneficial to the workplaces," adding, "We expect this to contribute to the stability of city gas supply during the winter season."

This content was produced with the assistance of AI translation services.