Number of RE100 Members
Number of RE100 Members
Renewable Energy Usage Rate
Renewable Energy Usage Rate
Policy Recommendations for RE100 in Korea
Policy Recommendations for RE100 in Korea
with many companies reporting significant barriers
to renewable energy adoption.
This contrasts sharply with Korea's massive corporate electricity demand. RE100 members consume over 60 TWh of electricity annually in Korea, representing approximately 10% of the nation's total annual power consumption.
Bridging this gap between demand and supply requires clear and effective renewable energy policies. These Korea-specific RE100 policy recommendations were developed based on input from RE100 member companies and industry experts. These recommendations were developed in collaboration with Corporate Renewable Energy Foundation, Korea Sustainable Investing Forum, and Climate Solutions, and were first published in 2023.
As Korea's energy transition gains momentum, further efforts are needed to improve corporate renewable energy access and realize Korea's renewable energy future.
RE100 urges implementation of the following policy recommendations.
Establish fair and transparent electricity market systems and policy environments where renewable energy can compete on equal footing with fossil fuel generation
- Reform regulations so renewable energy purchase prices reflect actual electricity production costs
- Strengthen independence of electricity market and grid operators, and integrate sustainability criteria into grid operations
Establish consistent policy foundations, including raising national renewable energy targets, to enable companies to steadily expand renewable electricity use
- Set renewable energy targets aligned with the 2050 carbon neutrality goal
- Explicitly include corporate PPA expansion plans in government energy policy roadmaps
Remove barriers hindering corporate power purchase agreement adoption
- Ensure fair calculation of grid usage fees and ancillary costs, and improve transparency in the pricing process
- Eliminate unreasonable contractual obligations
- Support PPA activation through streamlined contract procedures and clear guidelines
Enhance flexibility and fairness in grid operations to expand domestic renewable energy supply
- Ensure equal grid access and fair compensation for renewable energy
- Promote investment in grid flexibility enhancements to accelerate renewable energy expansion
Improve the renewable energy investment environment to expand on-site and off-site power purchase agreements
- Simplify separation requirements and licensing procedures
- Create an environment that improves cost-effectiveness of renewable energy investments
- Increase transparency in calculating ancillary costs related to on-site and off-site power purchase agreements
Strengthen transparency, sustainability, and additionality of renewable energy certificates and tracking systems
- Differentiate renewable energy sources in Green Premium auctions
- Utilize Green Premium revenues to enhance renewable energy additionality
- Increase frequency of Green Premium auctions
- Introduce sustainability standards for biomass under Green Premium and Renewable Energy Certificate (REC) programs