LG Uplus, Korea Power Exchange, and Incored
Signed business agreement to expand electricity meters and infrastructure
Expanding domestic metering infrastructure to revitalize energy transition


For renewable energy power producers to sell energy, they need meters to measure power generation and infrastructure to collect and transmit power generation data. However, most meters are imported, and few providers provide this infrastructure, which has historically burdened small and medium-sized power producers with significant costs.

LG Uplus, the Korea Power Exchange (KPX), and Encored Technologies announced on the 24th that they will begin building a renewable energy power generation monitoring infrastructure. This agreement was signed as part of Korea's "Green New Deal" initiative. The plan is to distribute and expand domestically produced meters and infrastructure to renewable energy power producers utilizing solar and wind power.

The three companies agreed to develop a remote transmission unit (RTU) capable of measuring power generation using domestic technology and jointly build infrastructure to collect and transmit power generation data in real time via an LTE network. The goal is to reduce meter prices by half and RTU prices by a quarter compared to existing systems.

LG U+ creates a communication environment between communication modems and the power exchange. Encored Technologies develops communication modems necessary for power generation companies to enter the new power market, and the Korea Power Exchange is responsible for the work and administration necessary for the distribution and expansion of domestically produced meters.

The three companies expect this agreement to expand the market access of small and medium-sized renewable energy power generation companies. Small-scale renewable energy power generation companies with installed capacities of less than 500 kW are expected to enter the electricity market, and they plan to facilitate the early expansion of monitoring infrastructure developed using domestic technology. Going forward, the three companies also plan to jointly work to create conditions conducive to the proliferation of domestically produced meters.