Contents

Why Are Peak Loads Observed during Winter Months in Korea?

KIM, JEE YOUNG / OH, HYUNGNA / CHOI, KYUNG-MEE

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Abstract

Since 2009, electricity consumption has developed a unique seasonal pattern in South Korea. Winter loads have sharply increased, and they eventually exceeded summer peaks. This trend reversal distinguishes these load patterns from those in the USA and the EU, where annual peaks are observed during the summer months. Using Levene’s test, we show statistical evidence of a rise in temperature but a decrease in variance over time regardless of the season. Despite the overall increase in the temperature, regardless of the season there should be another cause of the increased demand for electricity in winter. With the present study using data from 1991 to 2012, we provide empirical evidence that relatively low electricity prices regulated by the government have contributed significantly to the rapid upward change in electricity consumption, specifically during the winter months in the commercial sector in Korea.

Issue Date
2019-02
Publisher
Korea Development Institute
Citation
KDI Journal of Economic Policy, vol. 41, no. 1, page. 43 - 58, 2019
DOI
10.23895/kdijep.2019.41.1.43
Journal Title
KDI Journal of Economic Policy
Start Page
43
End Page
58
Language
English
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