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I applied for energy cashback!
2023.06.15 Policy Reporter Lim Ye-rang
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With the weather already getting warmer, I have a lot to worry about this summer. Every summer, whenever I hear people say how much their electricity bills are due to running air conditioners, I try to reduce electricity use as much as possible at home. It is said that ahead of this summer, which is expected to be hot, you can reduce your electricity bill and receive cashback through ‘Energy Cashback’. I was told that I could apply for Energy Cashback through the Korea Electric Power Corporation Energy Cashback website (https://en-ter.co.kr/ec/main/main.do) starting June 7, so I applied right away.
Energy Cashback can be applied for on the Korea Electric Power Corporation (KEPCO) Energy Cashback website. (Source = Korea Electric Power Corporation)
Those eligible to apply are residential customers who have been confirmed to reside at the application address, and can participate if they have used electricity in at least one year out of the previous two years. After application, application begins from the month in which the application date falls. However, cashback for customers who applied between June 7 and August 31, 2023 will be applied starting from July 2023 usage.
First, log in to the KEPCO Energy Cashback website and apply for energy cashback payment. Check your cashback information and resident registration address, and check the required consent terms.
Energy Cashback application process screen. (Source = Korea Electric Power Corporation)
Once you complete the Energy Cashback participation confirmation application, you can check the status on the cashback payment application screen.
After completing the Energy Cashback application, you can check your subscription status and activity period. (Source = Korea Electric Power Corporation)
If you reduce your electricity usage by 10% compared to the same month last year, you can receive a refund in cash. The basic cashback is paid at a minimum savings rate of 3% and 30 won per 1 kWh of savings if the savings rate is higher than the average savings rate for participants in the same region. Differential cashback pays 30 to 70 won per 1 kWh when a savings rate of 5% or more is achieved, regardless of the average savings rate. Cashback is charged by deducting it from the next month’s electricity bill, and the cashback payment standards are as shown in the figure below.
This is an explanation of the cashback payment standards. (Source = Korea Electric Power Corporation)
As summer approaches, energy saving campaigns are being promoted to alleviate the burden of energy costs due to increased electricity rates. Nothing that was taken for granted was taken for granted. Fundamentally, energy, which can be fundamentally related to climate change and environmental problems, is now used for granted and conveniently, but if electricity were to be cut off even for a day, it would be a disaster. This summer, it would be a good idea to reduce the burden of electricity bills and practice energy conservation for the environment through Energy Cashback.
Republic of Korea Policy Reporter Lim Ye-rang lyr40600@gmail.com
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