Power Margin Reaches All-time High as Demand for Electricity Falls | Be Korea-savvy

Power Margin Reaches All-time High as Demand for Electricity Falls


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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.

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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 / photonews@koreabizwire.com

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