SEOUL, June 8 (Korea Bizwire) — With the coronavirus impacting the real economy, demand for electricity, a barometer used to measure economic activity, has decreased.
The Electric Power Statistics Information System (EPSIS) reported that last month’s largest daily electricity usage occurred on May 18 at 5 p.m., measured at 65,700 megawatt (MW).
The power margin was 22,511 MW, or 34.3 percent, which was the highest monthly record since 1993.
Experts argue that warm weather, coupled with the coronavirus, has resulted in a strong drop in the demand for industrial electricity.
The country’s SMP (System Marginal Price), the wholesale price for electricity, dropped to its lowest levels in four years.
Image Credit: Korea Bizwire / Yonhap / firstname.lastname@example.org