Electricity Usage Hits Record High
By Kim Tong-hyung
Staff Reporter
The country set an all-time high for electricity consumption Monday, as the sudden drop in temperatures over the past week kept heaters running at home and offices.
It is the first time in 16 years that power usage has peaked on a winter day, instead of during the summer when air conditioners get a heavy workload, according to the Korea Power Exchange (KPX).
The electricity usage was 63.292 million kilowatts (kW), surpassing the previous record of 63.212 million kW set on Aug. 19.
No power disruptions were reported and the KPX said there would be no need for emergency action, although the high electricity demand is expected to continue in the coming weeks.
"It is the first time since 1993 that daily power usage peaked during the winter, instead of summer. The recent cold spell has sparked heating demand for both household and industrial use, and the improved health of the economy in recent months is also probably a factor," said a KPX official.
Industrial power demand has been increasing for the past five consecutive months, the KPX said, further indicating that electricity is taking shape as a main heating source amid high oil prices.
The trend seems to be similar in households, with local retailers reporting increasing sales for electric heaters and mattress pads.
Prices of kerosene, a widely-used heating fuel in homes, have risen by more than 30 percent compared to last year, forcing the government to halt its discount on the consumption tax for heating fuel.
The reliance on electricity for heating will only grow next year as the government plans to raise the household rates for gas usage during the winter season.
"Electricity is now a cheaper option than gas or fuel for heating during the winter," said an official from the Korea Electric Power Corporation (KEPCO), the country's sole power distributor.
``Electricity use during the winter season usually peaks in February or early March, so the peak to come earlier this year shows that there were more factors than just the recent cold spell.''
Electricity demand has traditionally been higher during the summer months than winter, but the gap has been closing quickly in recent years, the KPX said.
The KPX says that the new record for daily electricity use won't likely survive this winter season, as it projects a peak of 64.46 million kW.