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Electricity consumption in S.Korea rises in Q2 on demand from chipmakers, oil refiners

Xinhua, July 27, 2016 Adjust font size:

Electricity consumption in South Korea rose in the second quarter due to industrial demand from chipmakers and oil refiners, a government report showed on Wednesday.

Power consumption reached 118 billion kilowatt-hours in the April-June period, up 1.5 percent from a year earlier, according to the Ministry of Trade, Industry and Energy. During the first quarter, the electricity demand increased 1.8 percent.

Electricity demand in the industrial sector, which accounted for 58.9 percent of the total, reached 69.6 billion kilowatt hours in the second quarter, up 1.6 percent from a year ago. It was the fastest growth since the third quarter of 2014.

The fast growth came as power demand from chipmakers and oil refiners jumped 14.8 percent and 10.6 percent each in the quarter. Demand from steelmakers reduced 5.6 percent on the back of global slowdown, with those from carmakers and textile companies falling 2.4 percent and 2.9 percent respectively.

Electricity demand for general usage and household uses increased 2.4 percent and 0.8 percent each in the second quarter from a year ago. Power consumption among farmers climbed 3.6 percent, and those for educational purpose rose 1.7 percent. Endit