LG Electronics, together with Korea Electric Power Corporation, will push a pilot "smart appliance cashback" program that refunds electricity charges to customers who use home appliances during low-demand hours.
LG Electronics said on the 27th that it signed a memorandum of understanding (MOU) with Korea Electric Power Corporation on the 26th at the KEPCO Art Center in Yangjae, Seocho-gu, Seoul, to push the smart appliance cashback pilot program.
The program was prepared to encourage the use of high-efficiency appliances during daytime hours on weekends and holidays in spring (March–May) and fall (September–October), when electricity demand is relatively low. The aim is to disperse electricity consumption during hours when generation from renewables such as solar increases, improving the efficiency of grid operations.
Participating customers can receive a refund of 100 won per 1 kWh of electricity used when they operate eligible appliances from 11 a.m. to 2 p.m. The refund is capped at 300 won per hour and is automatically deducted from electricity bills through Korea Electric Power Corporation's Energy Cashback service.
Eligible products are four types: washing machines, dryers, dishwashers, and Stylers. The WashTower and WashCombo, which combine a washing machine and dryer, are also included.
Customers who want to use the service should apply for the smart appliance cashback on the Korea Electric Power Corporation website and then link the service in the LG Electronics AI home platform "LG ThinQ" app.
Jeong Ki-hyeon, executive vice president and head of the HS Platform Business Center of the HS Business Division at LG Electronics, said, "Based on the AI home platform LG ThinQ, we will spread a culture of using energy smartly with customers and introduce a variety of services that can contribute to sustainable energy use."