Ministry of Energy to cooperate with KT Corporation in the sector of smart electricity metering

Today acting Minister of Energy Olha Buslavets signed a Memorandum of Understanding on the introduction of "smart" electricity metering between the Ministry of Energy of Ukraine and South Korea’s KT Corporation. The memorandum is aimed at establishing a partnership in this area.

"The Ministry of Energy is interested in modernizing the Ukrainian electric power industry based on advanced technologies. We are currently completing the development of the Concept for the introduction of Smart Grid technologies in Ukraine," said Olha Buslavets.

One of the components of this concept is the introduction of smart metering systems.

Implementation of the concept will enable:

• to reduce power losses in power grids;
• conduct effective online monitoring of power quality parameters;
• analyze the balances of electricity in various nodes of power grids.

"The Ukrainian electric power system needs modernization and investment in the development of electrical infrastructure. From 2021, Ukraine will introduce incentive tariffs for distribution system operators, and this mechanism will provide opportunities for modernization of the electricity sector," said the head of the Ministry of Energy.

At that, Ukraine is interested in experience and cooperation with South Korea, which is a world leader in the development and implementation of modern technologies in the power industry, in particular, Smart Grid technologies.

"The effectiveness of Korean technologies in the electricity sector can, in particular, be proved due to the fact that South Korea ranks among the countries with the lowest levels of electricity losses in the world and the SAIDI reliability indicator. We believe that our cooperation in the field of smart grid technologies will have a mutually beneficial effect and will be prolonged in further cooperation between Ukraine and South Korea in the field of electricity," summed up Olha Buslavets.