Due to the early heat, the use of cooling devices has surged, causing electricity consumption to skyrocket to mid-summer levels since early July.
According to the Ministry of Trade, Industry and Energy on the 10th, the maximum electricity demand on the 7th and 8th broke the highest record for July for two consecutive days. On the 8th, electricity demand reached 95.7 GW, marking the second highest recorded in history. The all-time peak electricity demand was 97.1 GW on Aug. 20, 2024.
The power authorities project that this summer's maximum electricity demand could rise to 97.8 GW. This is due to the average temperature in early July expected to hit an all-time high, and the possibility of even higher temperatures in early August. Generally, once people start using cooling devices, they tend to continue their usage.
The Korea Meteorological Administration predicts that both August and September will see temperatures above the norm, indicating that the late summer heat may persist until September.
In light of the situation, the Ministry of Trade, Industry and Energy announced the ‘summer power supply and demand outlook and measures’ at a cabinet meeting chaired by the Prime Minister on that day.
The ministry aims to secure sufficient power supply capacity through optimization of generator maintenance schedules. Even if the maximum power demand rises to the cap of 97.8 GW, the reserve capacity is expected to be manageable for the power authorities at 8.8 GW.
The power authorities have also prepared approximately 8.7 GW of emergency resources to deal with potential equipment failures due to heavy rain or typhoons, or higher demand caused by extreme heat. They have proactively replaced aged equipment to prevent the likelihood of failures and completed maintenance work on vulnerable facilities through comprehensive inspections.
Meanwhile, the ministry provided the annual total energy voucher support to vulnerable groups, such as low-income populations, who may struggle with electricity usage due to heatwaves on the 1st. They also expanded the limit on electricity bill reductions to a maximum of 20,000 won. Additionally, they are easing the tiered electricity billing system during July and August to overall reduce the burden of electricity costs associated with cooling usage. The change in tiered billing during the summer is expected to lower the average electricity bill by 18,000 won for a household of four.
Minister Ahn Duk-geun said, “With sufficient reserve capacity, we are maintaining stable power supply despite higher-than-expected temperatures,” and added, “We will thoroughly manage the crisis response measures prepared in advance to ensure that there are no inconveniences for the public regarding electricity usage, regardless of potential crisis situations like heatwaves, typhoons, or large-scale equipment failures.”