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Summer electricity demand forecast to perk up over heat wave

Industry 12:00 June 30, 2022

SEOUL, June 30 (Yonhap) -- South Korea's electricity demand over this summer is forecast to rise higher than the level a year earlier due to hotter-than-usual weather conditions, the industry ministry said Thursday.

The country's maximum electricity demand is estimated to reach 91.7 to 95.7 gigawatts (GW) during the peak of the summer, or around the second week of August, larger than 91.1 GW the previous year, according to the Ministry of Trade, Industry and Energy.

The estimated supply is 100.9 GW this year, nearly the same as last year's 100.7, as the production growth from nuclear power plants would offset the fall in output from coal-fired thermal power plants, the ministry said.

The country's energy reserves are expected to sink to the lowest level in recent years to around 5.2 GW this summer, the ministry said. The comparable figures for 2020 and 2021 were 8.9 GW and 9.6 GW.

In an effort to ensure a stable electricity supply, the government has secured an additional 9.2 GW of reserve power on standby, as well as fuels needed for power generation in the coming months amid a global energy shortage.

It plans to operate special monitoring on energy supply from July 4 through Sept. 8 and will advise government ministries and other public institutions to implement measures to reduce power consumption.

An official checks the real-time state of electricity supply and demand at the Korea Electric Power Corp.'s office in Suwon, 45 kilometers south of Seoul, on July 14, 2021, as power usage surges amid a heat wave nationwide. An indicator on the electronic board points to "normal." (Yonhap)


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