Korea's electricity use hits 72 GW, the highest for June on early heat wave

[Photo by Yonhap]

South Korea may have to ring an alarm bell in energy supply as the reserve ratio drops under the Maginot Line of 10 percent on a spike in demand from the early arrival of heat wave.

According to the Korea Power Exchange, the maximum electricity consumption averaged 71.8 gigawatts (GW) in June. The figure, up 4.3 percent from the same month a year ago, is the highest for the month of June since data recording began in 2005. It is also the first time for the country’s electricity consumption to exceed 70 GW in June.

Electric power consumption is rising fast in Korea as early summer heat wave has arrived while power demand has gone up in line with a recovery in economic activities from virus-triggered social restrictions.

On June 23, the power reserve ratio fell below 10 percent, marking the first fall below the safe level for this year.

Electricity supply condition is expected to worsen over the following months as hotter summer is forecast through August.

The country’s electricity use is projected to peak in the second week of August this year, according to the Ministry of Trade, Industry and Energy. Maximum electricity consumption is estimated to reach from 91.7 GW to 95.7 GW this summer. Last year, it peaked at 91.1 GW on July 27.

Power reserve is estimated to range between 5.2 GW and 9.2 GW, which would be the lowest in five years. Reserve ratio is projected to stop at 5.4 percent to 10.0 percent.

A warning is issued when electric power reserve falls a certain level – caution for below 5.5 GW, watch for below 4.5 GW, alert for below 3.5 GW, warning for below 2.5 GW, and severe for below 1.5 GW.

The emergency alert has not been triggered since August 2013.

Energy ministry has secured an additional power reserve of 9.2 GW for emergency use, but it is encouraging the public to save electricity.

The Korean government has formed an emergency control center with electricity suppliers to readily respond to electric power issues.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]