Ministry of Trade, Industry and Energy Reviews Summer Power Supply Measures... "Minimizing Public Inconvenience"

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Dongwoo Lee] On the 17th, the Ministry of Trade, Industry and Energy announced that it inspected the preparation status for stable summer power supply and demand at the Power Infrastructure Center in Yeouido, Seoul, together with related power institutions such as Korea Electric Power Corporation, Korea Power Exchange, Korea Hydro & Nuclear Power, and Korea Gas Corporation.

This meeting was held to check the preparation status ahead of the summer power supply and demand countermeasure period (7.4~9.8).

Lee Won-ju, Director of Power Innovation Policy at the Ministry of Trade, Industry and Energy, who presided over the meeting, diagnosed, "This summer is likely to be hotter than usual, and as the domestic economy recovers after COVID-19, power demand is expected to increase compared to last year. However, power supply has not increased much compared to last year, so the power supply and demand conditions will not be easy."

He emphasized, "We must thoroughly inspect power generation and system facilities to prevent supply difficulties caused by unexpected failures and safety accidents in advance, and adjust the maintenance schedule of power generation facilities within the possible range to fully mobilize the supply capacity of nuclear, thermal, and renewable energy during the peak summer power demand period."

He also urged, "We need to secure fuel such as coal for power generation and liquefied natural gas (LNG) early to prevent the impact of international energy price increases due to the recent Russia-Ukraine situation from spreading to the power supply and demand situation."

Additionally, he added, "We should spread a culture of efficient energy use throughout society through promoting energy efficiency in the public sector, campaigns by civic groups, providing incentives for energy saving, and energy efficiency agreements with high-consumption businesses."

The related power institutions attending the meeting agreed that the power supply and demand situation this summer will not be easy, and stated that they will work with the government with extraordinary determination in power supply and demand management to ensure that there is no inconvenience to the daily lives of the public recovering from COVID-19.

The government plans to hold a National Affairs Inspection and Coordination Meeting chaired by the Prime Minister on the 30th to finalize and announce the "Summer Power Supply and Demand Outlook and Countermeasures."

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