A policy discussion session on the 12th basic plan for the electricity supply and demand is held in Seoul, Wednesday. Yonhap
Korea's annual electricity demand is expected to jump nearly 30 percent from the current level by 2040, the climate ministry said Wednesday.
In 2040, annual power consumption is forecast to reach a minimum of 657.6 terawatt-hour (TWh) and a maximum of 694.1 TWh, the Ministry of Climate, Energy and Environment said. The estimates were made at a policy forum on the 12th basic plan for electricity supply and demand for the 2026-2040 period, which is being devised by the government.
The figures represent a 26 percent increase from the annual power consumption of 549.8 TWh tallied in 2024.
The peak electricity demand is also expected to reach a minimum of 131.8 gigawatts (GW) and a maximum of 138.2 GW in 2040, compared with the current level of 100 GW, according to the ministry.
It said the forecast was based on two scenarios, one where the current economic growth level continues and the country implements the nationally determined contribution (NDC) goal for 2035. The other, reflects a faster pace of growth than previously expected thanks to the spread of artificial intelligence (AI) and successful economic reform, as well as the country making headway in achieving carbon neutrality.
Source: Korea Times News
