Korea was an early mover within APAC in opening its power market to the participation of Virtual Power Plant (VPP) and Demand Response resources. A VPP is a collection of distributed energy assets including batteries, generators and onsite equipment that are aggregated to support the grid with dispatchable capacity. The VPP aggregates these assets to participate in Demand Response programs which offer demand-side resources to the energy market, and businesses get paid for doing so.
Korea’s energy transition is accelerating
Korea’s renewable energy transformation is accelerating. With the Korean Green New Deal, the country has been taking initiatives for a low-carbon economic growth without using coal or oil. We are continuing to retire many of our large and antiquated coal-fired power stations and are using more solar and wind power generators. To facilitate this energy transition, we need new forms of power capacity to ensure the reliability of the power grid while balancing natural variability of renewable power.
How do businesses participate?
Businesses contribute their capacity by being flexible with when they use grid power, they do this by powering down in response to a grid signal. This enables more efficient use of energy infrastructure, while helping to guarantee power quality and grid security. Business participation is orchestrated by Enel X VPP via our 24/7 state-of-the-art Network Operations Centre.
Why Demand Response?
Demand Response is one of the most promising options available to support renewable power, and is expected to play a large role in Korea’s future power system. Many businesses across Korea are well-suited to participate, and are seizing this new opportunity to significantly improve their bottom line while supporting a cleaner and more competitive future. Enel X is the market leader in VPPs and Demand Response, with a comprehensive service that helps businesses maximize what they can earn.