Record High Power Demand This Year... Government Says "Stable Supply and Demand Due to Increased Nuclear Power Operation"

Ministry of Industry, Summer Electricity Supply and Demand Outlook and Measures
Electricity Peak Forecast for 2nd Week of August... Reserve Capacity Secured at 8.6GW
Nuclear Power Supply Capacity Increased by 2.8GW Including Shin Hanul Unit 1

The maximum electricity usage this summer is expected to increase by 4.8GW compared to last year, setting a record high. However, thanks to the increased operation of nuclear power plants such as Shin Hanul Nuclear Power Plant Unit 1, which began production at the end of last year, the supply capacity has also significantly increased, and the government expects no issues in power supply and demand.

On the 15th, the Ministry of Trade, Industry and Energy announced the 'Summer Electricity Supply and Demand Outlook and Measures' containing these details.

Kang Kyung-sang, Vice Minister of the Ministry of Trade, Industry and Energy, said, "This year is forecasted to be considerably hotter than average with an early heatwave, so the peak electricity demand is expected to be similar to or higher than last year. With the supply capacity of nuclear power plants increasing by 2.8GW compared to last year, the maximum supply capacity will reach a record high of 106.4GW, ensuring stable power supply and demand."

Peak Electricity Demand up to 97.8GW... Minimum Supply Reserve Rate at 8.1%

This year’s maximum electricity demand is expected to surpass the previous record of 93.0GW recorded at 5 p.m. on July 7 last year. The peak period, when electricity demand is highest, is forecasted to be at 5 p.m. during the second week of August, with demand estimated between 92.7GW and 97.8GW. This means the maximum electricity demand will increase by up to 4.8GW compared to last year.

In response to the demand increase, supply capacity has also been expanded to a record high. The maximum supply capacity has increased by 6.7GW from last year’s peak supply capacity of 99.7GW to 106.4GW. The significant increase in power supply capacity is primarily due to the operation of Shin Hanul Unit 1 (1.4GW), which started in December last year. Additionally, fewer nuclear power plants were out of service for repairs or maintenance compared to last year, allowing an additional 1.4GW of power generation from nuclear plants. As a result, the nuclear power supply capacity during peak times will total 23.3GW, an increase of 2.8GW from last year’s 20.5GW.

Moreover, the government secured an additional supply capacity of over 0.5GW during peak hours (5?6 p.m.) by adjusting the charge and discharge times of solar-linked Energy Storage Systems (ESS). In addition, supply capacity was expanded by 6.7GW in total, including 2.7GW from liquefied natural gas (LNG) power generation, 0.6GW from new renewable energy, and 0.5GW from coal.

Through these supply capacity expansions, the government expects the minimum reserve capacity during peak electricity usage to be at least 8.6GW, with a reserve rate of 8.1%. These figures are higher than last year’s minimum reserve capacity of 6.7GW and reserve rate of 7.2%.

Additionally, the government has secured 7.6GW of reserve resources, including demand response (DR), increased coal power plant operation, and utilization of trial operations, to ensure no disruption in power supply even in cases of sudden demand surges or multiple power plant failures.

Strengthening Private Incentives and Managing Public Usage... Encouraging Consumption Reduction

While the government expects the electricity supply and demand situation this summer to be stable, it plans to encourage energy consumption reduction to prepare for any emergency situations.

First, it will strengthen energy-saving incentives (Energy Cashback), promote behavior and awareness change campaigns, and enhance usage management through the establishment of a real-time energy data platform for public institutions. Support for efficiency improvements to alleviate cooling cost burdens for vulnerable groups and facilities will also continue to expand. Furthermore, considering recent changes in peak hours, the focused energy-saving period has been adjusted from 2?5 p.m. to 4:30?5:30 p.m.

Facility inspections will also be strengthened. Through on-site inspections by ministers and vice ministers, preventive maintenance of power facilities, and pre-inspections for disasters such as typhoons, the government aims to prevent power supply disruptions caused by unexpected failures.

Lee Chang-yang, Minister of Trade, Industry and Energy, stated, "We will manage supply and demand with vigilance to ensure that there is no inconvenience to the public’s electricity use under any circumstances. We also ask the public to participate in the expanded Energy Cashback program this summer and join the 'Reduce 1kWh per day' campaign to consume energy wisely and avoid excessive cooling bills."

(Photo)

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