Energy Ministry, South Korea's corporation to introduce ‘smart grids’ in Ukraine’s energy sector

This issue was discussed during a meeting between representatives of the Energy Ministry of Ukraine and South Korea's KT Corporation, Ukrinform reports referring to the ministry’s press service.

"The Energy Ministry is interested in the modernization of Ukraine's power sector on the basis of the latest technologies. We are currently completing the development of a Concept for introducing smart network technologies in Ukraine," said Deputy Energy Minister Yurii Boiko.

He noted that among important components of the concept is the introduction of "smart accounting" systems.

"This will make it possible to reduce electricity losses in power grids, to carry out effective online monitoring of electricity quality parameters, to analyze electricity balances in various power grid nodes," the minister said

Among the promising areas of cooperation, the parties also consider digitalization in the energy sector.

The Energy Ministry said it would soon present the projects in the field of energy digitalization for further potential cooperation with KT Corporation.

In addition, the Energy Ministry is developing a draft Ukrainian-Korean Joint Statement of Intent to expand cooperation in the energy sector, the signing of which will extend the level of intergovernmental cooperation.

"Ukraine is very interested in the experience and cooperation with Korea, which is a world leader in the development and implementation of modern technologies in the power industry, in particular, smart network technologies. I am sure that our cooperation will have a mutually beneficial effect," Boiko said.

As reported by Ukrinform, from January 1, 2021, Ukraine introduced incentive tariffs for distribution system operators, which provides opportunities for modernization of electricity infrastructure.

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