Electricity demand to peak next week amid heatwaves

Korea’s power demand is expected to peak next week amid scorching heatwaves, the Ministry of Trade, Industry and Energy said Wednesday.

An official monitors the electricity supply situation at a power grid operation center under the Korea Electric Power Corporation (Kepco) in Suwon, Gyeonggi, on July 31. [YONHAP]

Korea’s power demand is expected to peak next week amid scorching heatwaves, the Ministry of Trade, Industry and Energy said Wednesday.

The ministry expects the power supply to remain stable during the peak demand this summer but is closely monitoring possible risks, including the temporary shutdown of the Hanbit-2 nuclear reactor and Typhoon Khanun approaching Korea.

Based on the latest weather forecast, the Energy Ministry expects this summer’s power demand will peak at 92.5 to 97.8 gigawatts on August 10, which has been slightly adjusted from the previously estimated 92.7 to 97.8 gigawatts for the second week of August announced in June.

The power supply capacity currently stands at 103.8 gigawatts, which falls short of the previously expected 106.4 gigawatts, as the 1-gigawatt Hanbit-2 nuclear reactor temporarily halted operations due to a failure on July 24. The Hanbit-2 reactor is currently undergoing inspection.

Delay in the commercial operation of a newly-built cogeneration plant in Yangsan, North Gyeongsang, also brought down the supply capacity.

As a result, reserve capacity is expected at about 6 to 11.3 gigawatts during peak time, compared to the 8.6 to 13.7 gigawatts estimated in June. Power supply warnings are issued when the reserve level goes below 5.5 gigawatts.

The Energy Ministry said that it has secured an additional 0.5 gigawatts of capacity from the power suppliers, adding that it plans to implement energy-saving measures to cut power demand by up to 1 gigawatt based on the level of reserve capacity.

Last summer, the power demand peaked at 93 gigawatts on July 7 with the power supply capacity standing at 99.7 gigawatts.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]