Electricity use expanded to account for as much as 56.3 percent of total energy consumption in 2001 and is still rising, as an increasing number of businesses have switched to electrical heating systems from oil or gas. (image: Yonhap)
SEOUL, Nov. 12 (Korea Bizwire) — Experts have raised concerns that South Korea supply of electricity may come under strong pressure in the winter months as an increasing number of companies and buildings are replacing oil or natural gas with electricity to run their heating systems.
“More than 60 percent of total energy consumption in the commerce and the public sectors as well as among large buildings comes from electricity,” said Choi Moon-seon, a researcher at the Korea Energy Economics Institute.
“The use of electrical heating systems has no doubt been the driving force behind this trend.”
Coming in at only 33.3 percent of total energy consumption back in 1992, electricity use expanded to account for as much as 56.3 percent of total consumption in 2001 and is still rising, as an increasing number of businesses have switched to electrical heating systems from oil or gas.
Choi noted that easy installation and usage makes electric heating systems or EHPs an attractive alternative that could replace other types of systems that use other sources of energy.
“This trend is expected to continue, which will only add pressure to the supply of electricity in the winter,” he added.
As recently as last winter, South Korea broke a series of records for electricity demand, which led the government to ask companies to reduce their use of electricity in exchange for compensation.
As to why more people are turning to electricity, the Ministry of Trade, Industry and Energy and Korea Electric Power Corp. say that the price of electricity is unreasonably low, failing to reflect production and social costs.
An expert committee recently submitted a recommendation to the government asking for improved practices of energy pricing as well as more efficient use of energy in buildings.
H. M. Kang (hmkang@koreabizwire.com)
