A study on new power business model using power information technology

The Korea Electric Power Corporation (KEPCO) recorded 2.9 trillion won deficit in the aftermath of the world financial crisis. KEPCO is trying to escape from the business crisis in every way; however, it is impossible to make huge profit by selling electricity alone. Overseas electrical utilities make profits by selling gas and heat along with electricity. However, it is difficult for KEPCO to enter the gas and the heat selling market because other public companies are already dealing with them. In this situation, improving the business is possible when KEPCO develops a new business model and creates added value using Korean advanced Power IT combined with electricity. This study shows a new business model using Power IT, based on a survey targeting managers in KEPCO branch office and electrical engineers in the field. We hope the new business model suggested in this study is adapted to the real field to create high value in the future.