Korea Power Exchange fears record power consumption in June could cause demand to outstrip spare capacity supplyNews
The summer heat wave that started last month in Korea has already caused record electricity demand.
Some experts fear demand could outstrip supply and lead to the first power scares since 2013.
Shin Se-byuck provides further analysis.
The summer heat wave that began last month has pushed electricity demand to unprecedented levels.
Peak power consumption in June averaged 71,805 megawatts, up 4.3 percent from the same month last year, according to the Korea Power Exchange.
This figure is the highest average since the first compilation of data in 2005.
the first time in June that demand exceeded 70 thousand megawatts.
Scorching heat in Korea on Saturday prompted the government to issue this year’s first national heat wave alert 18 days earlier than last summer.
Homes and offices use more air conditioning, sapping the country’s electricity reserves.
On June 23, the electricity reserve ratio fell to 9.5%, the first time this year that it fell below 10%, which is the ratio needed to ensure stable power supply and prepare for emergencies. .
With electricity demand rising even further in July and August, analysts fear a supply warning will have to be issued this summer for the first time in nine years.
This would mean limiting air conditioning in public sector buildings and advising people not to use too much electricity at peak times.
These measures would be taken once electricity reserves fall to a certain level, which the Department of Energy says could occur in the second week of August at the height of the summer heat.
Shin Se-byuck, Arirang News.