Korea Electric Power Corp. (KEPCO) has established a power supply emergency response regime so people can use electricity without worry despite a surge in power demand, caused by a summer heat wave.
The power company is devoting itself to stabilizing power supply by advancing inspections into power facilities.
KEPCO has extended the power supply emergency response period to between June 26 and Sept. 15, two weeks longer than the previous year.
A quick working regime is in place to ramp up readiness against an emergency situation.
On June 27, KEPCO conducted a power supply emergency mock drill to ramp up emergency response at KEPCO headquarters in Naju, Jeollanam-do, with 15 regional headquarters across the nation in attendance.
The drill involved inspections into ways of securing reserve power in case of emergency and response capabilities by confirming a system of informing the situation to people, media and related organizations.
KEPCO finished inspection into power facilities to brace for their breakdowns, caused by summer natural disasters, such as downpours, typhoons and extreme heat waves, and damages by the end of June.
KEPCO conducted inspections into 313 substations and 280 power conducts in low-lying areas to prevent damages, caused by downpours.
Reinforce work was done into some substations and conduits, while 815 steel towers were inspected in areas susceptible to landslides.
Acting KEPCO President Lee Jeong-bok said, “KEPCO will do its utmost to make thorough readiness against unexpected power supply emergency cases, such as summer heat waves and typhoons lest people experience inconveniences.”
KEPCO Predicted to Turn Around in Q3
KEPCO, which saw operating losses snowball, is likely to log an operation profit in the third quarter of this year.
Power industry circles said losses, caused by higher power purchase prices than selling prices, are reversed on the back of declining international energy prices and rising electricity consumption, so minimum conditions for logging an operating profit is evaluated to be met.
KEPCO said on July 23 that electricity consumption began to surge in July.
KEPCO saw power consumption surge from 69,581MW on July 1 to 84,023MW and power reserve ration decline down to 17 percent.
It was between October 2021 and April 2023 that power selling prices topped power purchase prices, resulting in chronic losses, But entering May, KEPCO saw the trend turn around: buying power 132.43 won per kWh from power companies and selling it to consumers for 138.83 won for a profit of 6.4 won per kWh.
The turnaround is expected to help KEPCO come out of the worst situation of snowballing looses.