Energy demand hits yearly high on continued heat wave

South Korea experienced its highest electricity demand for the year due to a prolonged heat wave, with the maximum electricity demand reaching 95.321 gigawatts on Friday, according to data from the Korea Power Exchange (KPX). The reserve capacity stood at 8.2 gigawatts, and an emergency power supply alert is issued if the figure falls below 5.5 gigawatts.

Total electricity demand is estimated to have passed 10.42 gigawatts as of between 2 p.m. and 3 p.m. on Friday, with the government predicting further increases in demand in the coming week as high temperatures persist and industrial production rises following the summer holidays. The energy ministry has already increased energy supply by 2 gigawatts compared to last year to 107 gigawatts and has prepared an additional 8.8 gigawatts of reserve to prevent any unforeseen shortages.

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