SEOUL, Nov. 12 (Korea Bizwire) — South Korea’s electricity demand is surging amid rapid industrial electrification and the spread of artificial intelligence (AI), raising concerns that rising power costs could weigh heavily on energy-intensive industries such as semiconductors and displays, a business report warned Tuesday. According to a study released by the Korea Chamber of Commerce [...]
Global power demand surge puts net zero by 2050 out of reach as world heads toward 2.6°C warming, says Wood Mackenzie AI boom and geopolitical tensions strain energy systems; a 30% increase in annual investment to US$4.3 trillion needed to limit warming to 2°C; China takes global leadership in energy transition LONDON, HOUSTON, SINGAPORE, 29 [...]
SEOUL, July 10 (Korea Bizwire) — As South Korea swelters under an unrelenting heat wave, power demand is surging to historic highs, raising concerns over energy reserves and public health. This week, temperatures in Seoul soared to a blistering 37.7 degrees Celsius — the hottest early July reading since records began in 1908. Nearby cities [...]
Some regions in US to see 15% electricity demand growth through 2029; prices could escalate LONDON and HOUSTON and SINGAPORE, Oct. 17, 2024 (Korea Bizwire) – US power demand has remained essentially flat for the past decade, but this is all about to change as a pending surge in demand growth will be the biggest [...]
SEOUL, July 4 (Korea Bizwire) — South Korea’s electricity demand touched a fresh all-time high in June as the country was struck by an early heat wave, data showed Monday. The country’s maximum power demand averaged 71,805 megawatts (MW) last month, up 4.3 percent from a year earlier and marking the highest tally for any [...]