Seoul, April 29, 2021 – Enel X Korea, the country’s leading independent aggregator in virtual power plant (VPP) and demand response (DR) services, has successfully won the demand response bid for Busan Metropolitan Government (Busan City). Busan City is now registered as a Demand Response resource to support Korea’s national electricity grid, managed by the Korean Power Exchange (KPX). The deal signifies the continued relationship between Enel X Korea and Busan City for the second consecutive year.
The City of Busan is a hub of trade, commerce, and industry, and is the second largest city in Korea. Enel X Korea has registered 36 individual Busan Metropolitan Government facilities to reduce power usage from pumps, water machines, and other equipment, when called on by the KPX in the event of a peak power update or power system crisis. Busan City receives regular payments in exchange for being prepared to curtail its electricity usage and for reducing grid power usage throughout the year.
Manager of Busan Metropolitan Government said, “Following a careful selection process, we are pleased to select Enel X Korea for Busan City’s demand response resources. The Enel X Korea team has the expertise and capability to optimize our sites to support our local community and electricity grid.”
Hyung-min Kim, Country Manager of Enel X Korea, said, “We are thrilled to continue our relationship as the trusted partner for Busan Metropolitan Government’s demand response services. With our global leadership and experience in the energy sector, we can transform Busan City’s energy use to support the grid, achieve sustainability initiatives, and provide a competitive advantage. Demand response offers new revenues, can offset retail electricity costs, and allow for investments in new technologies such as battery storage.”
In addition to this demand response program, Enel X Korea introduced a ‘Fast Demand Response’ program at the end of last year. Commercial and industrial customers who participate in the program automatically and instantly reduce their grid power usage when the system frequency falls below 59.85Hz. This helps to keep the lights on and to prevent system-wide black outs.
Enel X Korea was one of the first companies to register as an official demand response services provider in the country. Enel X Korea is a subsidiary of Enel X, the Enel Group’s advanced energy services company holding the leading position in demand response programs globally, with more than 7.4 GW of capacity currently managed and assigned in the Americas, Europe, Asia and Oceania.