[Basic Knowledge] Consultation on Electricity Switching: "What are the risks of power outages and electricity company bankruptcies?"

You can switch your electricity with peace of mind! Here are some common inquiries we receive about electricity switching.

Even if you switch your contract to a new electricity company, the electricity will still flow through the same power lines as before. Therefore, there is no need for the installation of new power lines or the replacement of electricity meters. The rate of power outages will not change regardless of the electricity company. In the unlikely event that the new electricity company withdraws from business or goes bankrupt, you are protected by the "last resort supply" safety net system under the Electricity Business Act, which was established with the full liberalization of electricity in 2016. Under this system, regardless of which electricity company your contract is changed to, the major electricity companies in each area are obligated to supply power as a backup, ensuring that consumers do not experience a disruption in electricity supply and do not suffer any losses. Therefore, everyone can confidently proceed with switching their electricity provider. *For more details, please refer to the related links or feel free to contact us.

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