SEOUL, KOREA - 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 9 that its member companies decided to reduce their electricity consumption by 1.06 million kilowatts per day during the period from August 5 to 30 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.
Steel companies account for about 10 percent of the nation's electricity consumption. POSCO, in particular, 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.
