Electricity Sales Volume Decreased Again Last Year... Industrial Sales Down Due to COVID-19

[Sejong=Asia Economy Reporter Kwon Haeyoung] As the COVID-19 pandemic prolonged, electricity sales last year decreased by more than 2% compared to the previous year, marking a decline for the second consecutive year.

According to the December electricity statistics preliminary report released by Korea Electric Power Corporation on the 13th, electricity sales from January to December 2020 amounted to 509,270 GWh, down 2.2% from the previous year.

Due to reduced exports and factory operations caused by COVID-19, industrial electricity sales decreased by 3.7% to 278,660 GWh. Electricity sales for general use, including self-employed businesses, also fell by 2.2% to 113,638 GWh. This is interpreted as being influenced by the economic downturn caused by COVID-19 and quarantine guidelines such as social distancing.

On the other hand, residential electricity sales increased by 5% compared to the previous year to 76,303 GWh, as the expansion of remote work led to longer time spent at home.

Meanwhile, total power generation last year decreased by 1.9% to 563,040 GWh, marking a decline for the second consecutive year following 2019.

This content was produced with the assistance of AI translation services.