Korean steels join nationwide energy-saving drive

Posted on 11 June 2013
Korea IT Times reported that Korea's major steel companies, including POSCO, decided to participate in the government's electricity-saving drive by reducing their electricity usage during the summer season.

The Korea Iron & Steel Association announced on June 9th that its member companies decided to reduce their electricity consumption by 1.06 million KW per day during the period from August 5th to 30th when the nationwide electricity demand peaks in general.

During this period, the steel companies plan to repair facilities or encourage employees to take a leave. If they succeed in saving energy as planned, it could create a huge energy-saving effect that would be equivalent to those produced by a single nuclear power plant.

However, steel companies account for about 10% of the nation's electricity consumption.

In particular, POSCO, plans to reduce its electricity consumption by 380,000 kW per day. To this end, it will reduce the capacity utilization ratio of its stainless plant, as well as reducing its work hours during peak electricity usage hours in August.

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