Korea may be hard pressed to meet an expected hike in summer power use as demand growth is likely to exceed the country’s supply capabilities, the government said Monday.
The country’s maximum power demand from June through August is forecast to rise 7 percent on-year to 74.77 million kilowatts, while supply will likely go up 6.2 percent to 78.97 million kilowatts, the Ministry of Knowledge Economy said.
The figures translate into an electricity reserve of just 5.6 percent, or 4.20 million kilowatts, which is below the 7 percent level considered as the safe margin in the past and 6.4 percent reached last year.
Minister of Knowledge Economy Choi Joong-kyung (second from right) is briefed about the electricity demand and supply situation at the Korea Power Exchange in Seoul on Monday. (Yonhap News)
“The reserve rate is relatively tight and will require concerted efforts to reduce power use during the summer peak demand period,” the ministry said.
Greater air conditioning-related demand will be the main contributor to more power being used in the coming months, the ministry said, adding it may rise 12.3 percent on-year to 17.29 million kilowatts.
To meet the surge in demand, state-run Korea Electric Power Corp. (KEPCO) is examining various contingency plans that can add 4.78 million kilowatts of power to the country’s electricity reserves if the need arises. Such measures include the adjusting of overall power voltage and encouraging companies to plan their summer vacations to help disperse electricity use.
KEPCO is also considering moves to push for various voluntary and non-voluntary conservation measures that can prevent sudden power shortages. If such contingency measures are implemented, reserve numbers should go up sharply, reducing the risk of power being cut off.
South Korea has not suffered a so-called brownout since 1971 when the country’s power infrastructure was prone to breakdowns and there was insufficient supply.
The ministry, meanwhile, said overall reserve levels should start improving from 2012 onwards as more power generation plants go on-line.
“Power reserve levels are likely to reach 7.3 percent next year, and go up to 8.6 percent and 13.9 percent in 2013 and 2014, respectively,” the ministry said.
Total power supply capability is forecast to go up by 11.45 million kilowatts in 2014 as two more nuclear and two new thermal power plants provide electricity to the national power grid.
(Yonhap News)