LG Chem opts to buy power without KEPCO

LG Chem opts to buy power without KEPCO

최초입력 2025.07.25 09:56:00

(Yonhap)

LG Chem Ltd. became the first company to source electricity directly from the power exchange, bypassing the traditional supply route via Korea Electric Power Corp. (KEPCO).
According to industry sources on Thursday, LG Chem began purchasing electricity directly from the Korea Power Exchange in late June 2025, becoming the only major corporation that is currently using this option.
The direct power purchase program is available to electricity users with a power-receiving facility capacity of 30,000 kilovolt-amperes (kVA) or more. While SK Advanced was the first to receive regulatory approval for the program in March 2025 from the Ministry of Trade, Industry and Energy’s electricity committee, LG Chem was the first to initiate direct purchases.
The company’s move comes as industrial electricity rates in Korea have surged by 70 percent over the past three years. Rates have climbed from 108.1 won per kilowatt-hour (kWh) in the first quarter of 2022 to 182.8 won in the first quarter of this year. To avoid political backlash over household electricity prices, the government has focused rate hikes on industrial users. Consequently, the cost of purchasing power directly from the exchange, which includes the system marginal price (SMP) and network usage fees, has dropped below KEPCO’s industrial rates.
LG Chem’s decision is expected to prompt other KEPCO clients to follow suit. Petrochemical companies facing oversupply from China and steelmakers hit by U.S. tariffs are under mounting pressure from high electricity costs. A wave of defections by large corporate customers could strain KEPCO’s already fragile financial condition even further.
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LG Chem opts to buy power without KEPCO

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