South Korea power demand nears record highs amid heatwave

South Korea's electricity demand is approaching record highs due to a severe heatwave and the conclusion of the summer vacation season. On August 7, peak power demand reached 95.321GW, the fifth highest on record. Experts predict that demand could surpass the all-time high of 97.115GW set on August 20, 2024, as industrial plants resume full operations this week.

As demand rises, the power supply reserve has dipped to 8.2GW, with a reserve margin of 9%, falling slightly below the typical stable threshold of 10%. A power supply emergency alert is triggered if reserves fall below 5.5GW.

Despite the rising demand, the Ministry of Climate, Energy and Environment stated that the power supply remains stable. The government has secured a total supply capacity of 107GW, which is 2GW more than last year. Authorities have also prepared an additional 8.8GW of emergency power resources to manage potential shortages caused by prolonged heatwaves or equipment failures.