SEJONG, Jul. 7 (Korea Bizwire) — South Korea’s electricity consumption is expected to hit a record high this summer as the sweltering heat is expected to boost demand for air conditioners and fans, the state-run power market said Friday.
The maximum electricity usage will likely reach a record 86.5 million kilowatts during the summer season, up 1.32 million kilowatts from a year earlier, according to the Korea Power Exchange (KPX).
Despite the all-time high electricity demand, the KPX said the power supply reserve ratio will be 11.7 percent with 10.1 million kilowatts as the country has the power supply capacity of 96.8 million kilowatts.
The government said it set up contingency plans to cope with potential supply shortages.
Also, it will stage a nationwide campaign to encourage the private and business sectors to reduce power use during the peak season.