Private Power Industry "No Issues with LNG Introduction"... Government Urges "Uninterrupted Energy Supply During Winter"

On the 7th, Kang Kyung-sung, the 2nd Vice Minister of the Ministry of Trade, Industry and Energy, held a communication meeting attended by major private power generation and combined heat and power energy operators to listen to the industry's opinions on current issues in the power sector and urged stable energy supply for the upcoming winter season.

This meeting was held as part of a relay series of meetings promoted by Vice Minister Kang to strengthen communication between the government and the energy industry. Previously, Vice Minister Kang held meetings with the refining industry (August 17), energy industry associations (October 5), the gas industry (October 12), the new energy industry (October 24), and the Energy Public Corporation Technology Innovation Council (November 1).

Private power generation companies play a pivotal role in the national power supply, accounting for 16.5% of Korea's coal power generation and 67.4% of liquefied natural gas (LNG) power generation as of last year.

The companies attending the meeting pledged to ensure that there will be no disruptions to the public’s daily life and corporate production activities by maintaining flawless fuel supply and facility management, especially as stable power and heat supply are crucial this winter. In particular, major LNG power generation companies emphasized that despite recent events such as the Israel-Hamas conflict, "there are no issues with the import of LNG for power generation," and they will secure the necessary quantities for the upcoming winter without any disruptions to power supply.

Furthermore, the attendees agreed on the need for the role of private power generation companies in achieving stable power supply and carbon neutrality in response to changes in power supply conditions, such as the expansion of investment in advanced industries. They also agreed to continue communication so that the government and private power generation industry can swiftly respond to future technological developments and changes in supply conditions.

Vice Minister Kang stated, "Since the private power generation industry plays a key role in supplying energy essential for the public, such as electricity and heat, please ensure thorough preparations so that there will be no disruptions in supply this winter." He added, "We will spare no support to enable our power industry to not only provide stable and economical domestic energy supply but also lead the global energy industry."