South Korea is opening its long-standing monopoly electricity market to consumers for direct power purchases. Up until this point only the state-owned utility Korea Electric Power Corporation (KEPCO) has been able to sell electricity in the retail market, with all Power Purchase Agreements (PPAs) made through KEPCO as a mediator. Regulatory revisions are now expected to enable consumers to purchase electricity directly from generation companies without having to go through KEPCO. This will be a significant liberalization of a power market which has long been state-led – and which is globally noteworthy for supporting massive manufacturing activities including On March 28th, the Korean Electricity Commission—the regulatory body—voted to revise the Electricity Market Operation Rule. It updated Article 43, which outlines…