An electricity pylon is seen in Yeongdeungpo District, western Seoul, on Aug. 7, 2023.NEWS1
Korea's annual electricity demand is expected to jump nearly 30 percent from the current level by 2040, the Ministry of Climate, Energy and Environment said Wednesday.
In 2040, annual power consumption is forecast to reach a minimum of 657.6 terawatt-hours and a maximum of 694.1 terawatt-hours, the Energy Ministry said. The estimates were made at a policy forum on the 12th basic plan for electricity supply and demand for the 2026-40 period, which is being devised by the government.
The figures represent a 26 percent increase from the annual power consumption of 549.8 terawatt-hours tallied in 2024.
The peak electricity demand is also expected to reach a minimum of 131.8 gigawatts and a maximum of 138.2 gigawatts in 2040, compared to the current level of 100 gigawatts, 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 goal for 2035. The other reflects a faster pace of growth than previously expected thanks to the spread of AI and successful economic reform, as well as the country making headway in achieving carbon neutrality.
![An electricity pylon is seen in Yeongdeungpo District, western Seoul, on Aug. 7, 2023. [NEWS1]](https://image.koreajoongangdaily.com/12593090.webp?imageId=12593090&width=960&height=566&format=jpg)
