Minister of Trade, Industry and Energy Lee Chang-yang, third from left, visits Korea Midland Power in Mapo District, Seoul, Sunday. Courtesy of Ministry of Trade, Industry and Energy

By Lee Kyung-min

The energy minister visited Korea Midland Power (KMP), a state-run power company in Seoul, to ensure the stable supply of electricity and operation of power plants in the months to come, the Ministry of Trade, Industry and Energy said Sunday.

This was to help forestall a possible energy crisis this summer, as foreboded by record-breaking energy demand and falling reserve margins as of late.

Korea's daily maximum electricity demand surged to an all-time high of 92,990 megawatts (MW), July 7, exceeding the previous record of 92,478 MW July 24, 2018.

On the same day, the reserve capacity sank to 6,726MW and reserve margin dipped to 7.2 percent. These fell far short of the stable level of 10GW in reserve capacity and the margin of 10 percent. The 6,726 MW figure is close to dropping further to 5,500 MW, a level that triggers a nationwide power crunch alert.

The ministry said electricity demand is expected to peak in the second week of August, at 95,700 MW a day. The reserve margin accordingly could plummet to 5.4 percent, prompting the issuance of a power crunch alert for the first time since August 2013.

Behind the spike in energy demand are the early arrival of hot weather and an expansion of economic activity following the easing of social distancing measures and travel restrictions imposed earlier in the pandemic.

The Korea Power Exchange said the record-high figures are explained in large part by demand for air-conditioning combined with a drop in output by solar power generation due to cloudy weather.

The ministry plans to ensure more extensive use of nuclear power plants, propped up by an increase in power output and the early operation of plants in preparation for full commercialization.

Minister Lee Chang-yang visited the KMP in Mapo District, Seoul, and stressed the need to prevent sudden power failures of the country's grid system.

"The scorching weather has come earlier than expected this summer, putting the power exchange and power generators under greater pressure to competently manage power supply," he said. "Equally important is the safety of the workers, whose working environment should help them stay alert and take precautions at all times."