Nov. 15 (Bloomberg) -- South Korean legislation on smart power grids will come into effect on Nov. 25 as part of a government plan to reduce carbon emissions.
President Lee Myung Bak passed the ordinance in a cabinet meeting today, creating a legal framework for electric-car recharging services and power distributors that use smart-grid networks, the Ministry of Knowledge Economy said in an e-mailed statement. The legislation is the first of its kind in the world, the statement said.
South Korea’s government in 2009 pledged a 30 percent reduction in carbon emissions from expected levels by 2020. Electricity generation accounts for about 40 percent of emissions, according to data from the ministry. The nation, Asia’s fourth-largest energy user, may spend about 27.5 trillion won ($24 billion) by 2030 building smart grids, the ministry said in January 2010. The grids use digital technology to reduce cost and save energy in power distribution.
--Editors: Paul Gordon, Ryan Woo
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