The Korea Electric Power Corporation (KEPCO) has increased its budget for “soothing local residents” by 20% this year. As the government has decided to expand subsidies for the installation of transmission and substation facilities in accordance with the Electricity Network Expansion Act, the scale of execution is expected to increase further. Amid voices that compensation measures for residents are inevitable for smooth expansion of the power grid, concerns over KEPCO’s financial burden are also raised.
According to KEPCO on the 22nd, the amount of subsidies for residents in areas where transmission and substation facilities are installed increased every year to 148.5 billion won in 2022, 150 billion won in 2023, and 151 billion won in 2024. The estimated execution amount this year was 182.3 billion won, up 20.6% from the…
