Electric Utility Act

The backbone law of the electricity industry. It governs the Electricity Business Licence (EBL) (the anchor generation permit every offshore-wind project must hold) together with the wholesale power market, grid connection and transmission, and the roles of KEPCO and the generation companies. Administered by the Ministry of Climate, Energy & Environment and the Electricity Regulatory Commission.

• Electricity Business Licence (EBL): the anchor generation permit every offshore-wind project must hold; deemed-granted under the Special Act’s one-stop approval.
• Wholesale market & dispatch: governs the power market and the roles of KEPCO and the generation companies.
• Grid connection & transmission (sets the rules for connecting new capacity to the network) a binding constraint for large offshore clusters.
• Regulator: the Ministry of Climate, Energy & Environment with the Electricity Regulatory Commission (전기위원회).