Korea to introduce green pricing system

The South Korean government plans to introduce a green pricing system, which would require state-run companies to use electricity generated from renewable resource. This type of energy is slightly more expensive than ordinary electricity generated by burning fossil fuel or nuclear power, but the extra money earned can be set aside to strengthen the country’s technology and know how in the reusable energy field,” said Vice Energy Minister Lee Won-geol. He said this plan could be expanded to regular households, which can ask regional power suppliers to make use of clean, reusable electricity. “Initial surveys show that there is public interest in paying more to be provided with reusable energy,” the official said. He said the green pricing policy is used in many environmentally-conscious European countries, including Britain. “There will be numerous talks and public hearings to debate the pros and cons of this system, but if the people agree that it is necessary, the measure could go into effect starting in April 2008,” the vice minister said. (October 28, 2007)