South Korea plans to secure smart energy meters for half of homes in 2016

South Korea intends to complete the plan for energy-saving smart meters installation for half of domestic households in 2016. It aims to save electricity consumption through recording, monitoring, and statistics.

As Korea's fourth-largest energy user in Asia, almost all of its energy needs depend on imports. The Korean Prime Minister’s Office stated in an e-mail today that KEP will install smart meters for domestic consumers to help consumers more accurately understand the power situation, and smart meters with smart information recording capabilities It can also provide reference data for the guidance of future tariff policies, and provide guidance for the country's electricity supply.

At the same time, the statement mentioned that by 2016, the South Korean government will also build 150,000 battery charging devices for the popularization of electric vehicles, and can guarantee 17,000 person-times of energy supply per day.

South Korea is currently trying to reduce costs and provide electricity to cope with rising electricity prices. According to the country’s roadmap published in November 2009, the Korean government plans to invest 24.8 trillion won (about 2.2 billion U.S. dollars) to develop electricity supply by 2030.

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