Pulse
Summary
Summer electricity demand has soared to an all-time high in South Korea amid the heat wave.
According to the Ministry of Trade, Industry and Energy and the Korea Power Exchange, peak electricity demand reached 93,615 megawatts (MW) at 5 p.m. on Monday, 625MW higher than the previous summer peak demand of 92,990MW on July 7 last year.
The Korea District Heating Corp., in the meantime, announced separately that it has begun promoting the supply of stable electricity and district cooling through the collective energy project.The collective energy project supplies electricity and heat generated by one or more concentrated energy production facilities, such as cogeneration plants, to multiple users at once.
The corporation produces electricity with a capacity of 2,424MW at 12 branches, including seven centralized power generation branches operating under the instruction of the Korea Power Exchange, and supplies excess heat and cold water for district cooling.
The district cooling business consists of hot water cooling using heat generated by cogeneration and direct supply of cold water produced by large chillers. It is carried out by 32 collective energy operators, including the corporation, which holds a 47 percent market share of the total district cooling market in terms of installed capacity.
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