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a total of 85 Currently page on 2/9
  • KEEI Korea Energy Trends, 2023.07
    • Date2023/08/01
    • Author Energy Outlook Research Team
    • Number of downloads 15

    1. The Economy and the Industry

    The mining & manufacturing production index has been down for seven consecutive months until April due to continued weak production across most of the sectors, excluding the automobile sector.

    The service production index posted a year-on-year growth of 2.9% (in April), driven by stronger production in some of the sectors, although the rate of the growth was much lower.

    2. Energy Prices[1]

    Global oil price rose by 6.3% in April compared to the previous month, following the OPEC+ announcement of oil production cuts and amid an expectation that the US Federal Reserve (Fed) would pause the interest rate hikes.

    At domestic gas stations, gasoline price was up 3.1% in April from the previous month in line with the global price fluctuations, while diesel price was down 0.3%.

    City gas rate for residential use was flat in April, while the rates for general use, office heating and industrial use dropped by 1.1%, 18.6% and 22.6% respectively than the prior month.

    Electric rates for general and industrial use fell by around 20% each in March than the previous month after they were adjusted to the spring and autumn rates, and they remained at the same levels in April.

    3. Energy Supply

    The total energy import volume dropped by 6.4% year-on-year in April, as the import of all energy sources declined.

    4. Energy Consumption

    Total Primary Energy Demand (TPED) fell by 4.0% year-on-year in April, as demand for major energy sources all declined, except nuclear energy.

    Total Final Consumption (TFC) went down by 5.5% year-on-year (in April), with the industrial and building sectors leading the downward trend amid the economic downturn and higher energy rates.

    5. Coal

    Coal use fell by 3.6% year-on-year in April, led by the power generation sector, although its industrial use increased.

    6. Petroleum

    The final use of petroleum fell by 7.8% year-on-year in April due to decreased use of petroleum as feedstock in the industrial sector, even though it increased in all other end-use sectors.

    7. Gas

    Gas use declined by 8.0% year-on-year in April, as it declined in all sectors due to lower gas-fired generation, worsening economic conditions and higher gas rates.

    8. Electricity

    Electricity use went down by 3.1% year-on-year in April, as industrial production activities slowed, while the electric rates increased.

    9. Nuclear

    The total nuclear generation went up by 1.4% year-on-year in April despite a drop in the average capacity factor, as nuclear installed capacity increased.

    10. Heat and Renewable energy

    Heat energy use dropped by 8.2% year-on-year in April, as it declined in the residential, commercial and public sectors all together.

    Renewable & other energy use went up by mere 0.4% year-on-year in April, as it grew much slowly in the power generation sector, and the final use of renewable & other energy decreased.

    11. Industry

    Industrial energy use decreased by 8.1% year-on-year in April, driven by a sharp drop in the petrochemical sector, although energy use increased in some sectors.

    12. Transport

    Transport energy use increased by 5.6% year-on-year in April due to the base effect from the same period last year, when energy use plunged in the road transport sector.

    13. Buildings

    Energy use in buildings decreased in April, as the use of all energy sources declined except petroleum products partly due to price effect.

    14. Power Generation

    The total power generation and fuel input declined by 1.7% and 3.7% respectively in April from the same month last year amid falling electricity demand.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production & Operating Ratio by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Demand (TPED) and Share of TPED by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2023.06
    • Date2023/06/30
    • Author Energy Outlook Research Team
    • Number of downloads 15

    1. The Economy and the Industry

    Gross Domestic Product (GDP) rose by 0.9% year-on-year in 1Q, which was driven by increased private spending and investment, although the growth was slower.

    The mining & manufacturing production index has declined for six consecutive months until March, despite the recovery in some sectors, as production continued to be sluggish, mostly in the semiconductor sector.

    In the service industry, the production index increased by 6.2% year-on-year in March, as all subsectors reported stronger production except the information and communications sector.

    2. Energy Prices[1]

    Global oil price declined by 4.4% from a month earlier in March amid the tight monetary policy in the US and escalating concerns about the global financial crisis.

    At domestic gas stations, the price of gasoline increased in March from the previous month, while that of diesel declined, affected by fluctuating global prices.

    City gas retail rates for residential and general customers have been frozen, while the rates for office heating and industrial customers fell by 3.4% and 3.6% respectively from the previous month.

    Electric rates for general and industrial customers declined in March after they were adjusted for the spring & autumn season, while the rate for residential customers was the same as the previous month.

    3. Energy Supply

    The total energy import volume increased by 1.4% year-on-year in March, led by crude oil and coal, although the import volume of natural gas declined.

    4. Energy Consumption

    Total Primary Energy Demand (TPED) fell by 1.5% year-on-year in March, despite growing use of petroleum and nuclear energy, as coal and gas use declined.

    Total Final Consumption (TFC) went down by 2.0% year-on-year in March, which was attributed to the economic slowdown, temperature effect and higher energy prices.

    5. Coal

    Coal use dropped by 2.7% year-on-year in March, with the power generation sector leading the downward trend, although it rebounded in the industrial sector.

    6. Petroleum

    The final use of petroleum posted a year-on-year growth of 1.8% in March, led by a surge in the transport sector, while it declined in the industrial and building sectors.

    7. Gas

    Gas use declined by 15.6% year-on-year in March, as the downward trend continued in the building sector and started in the power generation and industrial sectors.

    8. Electricity

    Electricity use decreased by 3.5% year-on-year in March due to lower demand in both the industrial and building sectors.

    9. Nuclear

    The total nuclear generation posted a year-on-year growth of 9.6% in March, as its installed capacity increased, while the daily average of preventive maintenance decreased.

    10. Heat and Renewable energy

    Heat energy use has been decreasing more rapidly for three consecutive months, posting a year-on-year decline of 21.3% in March, which was due to temperature and price effect.

    Renewable & other energy use grew by 13.3% year-on-year, with the power generation sector leading the growth, although its final use declined.

    11. Industry

    Industrial energy use went down by 3.5% year-on-year in March despite growing energy demand in the iron & steel sector, as it declined in other large energy consuming businesses.

    12. Transport

    Transport energy use rose by 21.1% year-on-year in March, with the road transport sector leading the upward move with the expectation of the ending of fuel tax cuts in May.

    13. Buildings

    Energy use in buildings decreased by 11.8% year-on-year in March due to temperature effect, even though the service industry was recovering.

    14. Power Generation

    The total power generation and fuel input fell by 3.5% and 2.7% respectively in March on a year-on-year basis, as the use of electricity declined by 3.5%.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production & Operating Ratio by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Demand (TPED) and Share of TPED by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2023.05
    • Date2023/06/01
    • Author Energy Outlook Research Team
    • Number of downloads 16

    1. The Economy and the Industry

    The mining & manufacturing production index has declined for five consecutive months until February, despite the recovery in some sectors, as production continued to fall in most of the sectors.

    The service production index went up by 8.0% year-on-year in February, as production increased in almost all subsectors except the information & communications sector.

    2. Energy Prices[1]

    Global oil price increased in February due to supply disruptions, while global steam coal and natural gas prices decreased partly due to temperature effect.

    At domestic gas stations, gasoline price increased in February in line with the global price trend, while the price of diesel declined.

    In February, city gas retail rates for residential and general customers were flat, while the rates for office heating and industrial customers dropped by 1.3% and 1.4% respectively from the previous month.

    Electric rate was raised by 13.1 won/kWh in January as a result of the increase in energy charge and climate & environment charge, and it remained flat in February.

    3. Energy Supply

    The total energy import volume grew by 12.8% year-on-year in February, as the import of most energy sources increased, except bituminous coal.

    4. Energy Consumption

    Total Primary Energy Demand (TPED) decreased by 4.3% year-on-year in February, as demand for all energy sources decreased amid the economic slowdown.

    Total Final Consumption (TFC) decreased by 5.1% year-on-year in February, as energy use declined in all end-use sectors as a result of the worsening economic conditions and temperature effect.

    5. Coal

    Coal use dropped in both of the industrial and power generation sectors in February, though it declined at a slower rate by 2.5% on a year-on-year basis.

    6. Petroleum

    The final use of petroleum decreased in the industrial, transport and building sectors all together in February, and consequently, the total final use dropped by 5.9% year-on-year.

    7. Gas

    Gas use was 5.7% lower in February on a year-on-year basis, as it fell sharply in the building sector, although it grew in the power generation and industrial sectors.

    8. Electricity

    Electricity use grew by mere 0.9% year-on-year in February, even though it rebounded in the industrial sector, as it grew at much slower pace in the building sector.

    9. Nuclear

    The total nuclear generation fell by 2.7% year-on-year in February, as the nuclear capacity factor decreased due to the increase in daily average of preventive maintenance.

    10. Heat and Renewable energy

    Heat energy use dropped by 18.7% year-on-year in February, as it declined in all sectors due to temperature and price effects.

    Renewable & other energy use fell by 12.9% year-on-year in February, as it fell in the power generation and end-use sectors all together.

    11. Industry

    Industrial energy use went down by 3.1% year-on-year in February, mostly in the petrochemical and iron & steel sectors.

    12. Transport

    Transport energy use decreased by 4.7% year-on-year in February, as it declined in the road transport sector in anticipation of the expiration of fuel tax cut in May .

    13. Buildings

    Energy use in buildings dropped by 8.8% year-on-year in February due to temperature effect and price effect that resulted from the rate increase.

    14. Power Generation

    The total power generation slightly decreased in February, as power generation from major all energy sources except gas declined except gas.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production & Operating Ratio by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Demand (TPED) and Share of TPED by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2023.04
    • Date2023/05/02
    • Author Energy Outlook Research Team
    • Number of downloads 18

    1. The Economy and the Industry

    The mining & manufacturing production index has been down for four consecutive months until January due to weak production in most of the subsectors except the automobile sector.

    The service production index rose by 4.8% year-on-year in January, which was attributed to Lunar New Year holiday and growing travel demand.

    2. Energy Prices[1]

    Global oil price went up by 4.1% in January from the previous month amid weak US dollar and an expectation of demand recovery for petroleum in China.

    The prices of gasoline and diesel at gas stations fell by 0.1% and 6.1% respectively in January from the previous month in line with the downward trend in global prices.

    In January, city gas retail rates for private use (residential, general) were fixed, while the rates for commercial use (office heating, industrial) were lowered by around 5.5%.

    Electric rate increased by 13.1 won/kWh in January than the previous month, as climate change & environmental charge and energy charge were raised.

    3. Energy Supply

    The total energy import volume went down by 9.2% year-on-year in January, as the import of most energy sources declined.

    4. Energy Consumption

    Total Primary Energy Demand (TPED) was down 6.9% year-on-year in January, as demand for all energy sources decreased amid the economic slowdown.

    Total Final Consumption (TFC) decreased by 7.2% year-on-year in January, as it was flat in the building sector, while it declined in the industrial and transport sectors.

    5. Coal

    Coal use went down by 7.3% year-on-year in January, as it continued to decline in the industrial sector, while it started to decline in the power generation sector.

    6. Petroleum

    The final use of petroleum fell sharply in January by around 10% in all end-use sectors, and the total final use dropped by 12.1% compared to the same month last year.

    7. Gas

    Natural gas use declined by 3.3% year-on-year in January, as its final use decreased, though it increased in the power generation sector.

    The final use of gas fell by 5.3%, as it declined in both of the industrial and building sectors due to the economic slowdown and temperature effect.

    8. Electricity

    Electricity use posted a year-on-year growth of 3.1% in January, led by a surge in the building sector, although it declined in the industrial sector.

    9. Nuclear

    The total nuclear generation fell by 2.8% year-on-year in January, as its capacity factor decreased due to the growth in daily average of preventive maintenance.

    10. Heat and Renewable energy

    Heat energy use dropped by 2.7% year-on-year in January, with the residential sector leading the downward trend along with the decreased number of heating degree days.

    Renewable & other energy use decreased by 10.1% year-on-year in January, as renewable & other energy generation grew more slowly, and their final use declined.

    11. Industry

    Industrial energy use went down by 10.0% year-on-year in January, as the output decreased in most of the sectors due to the economic downturn.

    12. Transport

    Transport energy use decreased by 11.7% year-on-year in January, as it decreased in all end-use sectors and especially plunged in the road transport sector.

    13. Buildings

    Energy use in buildings grew by mere 0.2% year-on-year in January, as lower heating demand limited the pace of growth in energy use in the commercial sector.

    14. Power Generation

    In January, nuclear and coal-fired generation decreased, while renewable and gas-fired generation increased, and the total power generation slightly decreased.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production Ratio & Output by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Supply (TPES) and Share of TPES by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2023.03
    • Date2023/04/03
    • Author Energy Outlook Research Team
    • Number of downloads 16

    1. The Economy and the Industry

    Gross domestic product (GDP) increased by 1.3% year-on-year in 4Q 2022, despite a drop in construction investment, as private spending and facility investment increased.

    The mining & manufacturing production index has been decreasing more rapidly for three consecutive months due to sluggish production mostly in large energy consuming industries.

    The service production index went up by 6.7% year-on-year (in December) despite the economic slowdown, as outdoor activities and travel demand increased.

    2. Energy Prices[1]

    Global oil price fell by 10.5% from the previous month in December, as unfavorable global economic indicators raised concerns over weak petroleum demand.

    The prices of gasoline and diesel at gas stations dropped by 5.2% and 5.1% respectively in December than the prior month in line with the downward trend in global prices.

    City gas retail rates for general, office heating and industrial use rose by 1.1%, 2.6% and 5.4% respectively in December compared to the previous month.

    Electric rates were kept unchanged in December. On a year-on-year basis, electric rates for residential and industrial customers increased by 13.1% and 26.2% respectively.

    3. Energy Supply

    The total energy import volume grew by 0.4% year-on-year in December, led by bituminous coal and natural gas, although the import of petroleum products declined.

    4. Energy Consumption

    Total Primary Energy Demand (TPED) decreased by 3.0% year-on-year in December, despite the growth in gas use, as the use of other energy sources declined.

    Total Final Consumption (TFC) was down 4.4% year-on-year in December, with the industrial sector leading the downward trend, although energy use increased in buildings due to changes in temperature.

    5. Coal

    Coal use dropped by 5.3% year-on-year in December amid a steady decline in industrial coal use, although it slightly increased in the power generation sector.

    6. Petroleum

    The final use of petroleum fell by 7.4% year-on-year in December owing to a sharp drop in industrial petroleum use as feedstock.

    7. Gas

    Natural gas use increased by 12.9% year-on-year in December, as it rebounded in the power generation and end-use sectors.

    The final use of gas increased by 8.0% year-on-year, led by the industrial and buildings sectors, which was affected by stronger production in some sectors and weather conditions.

    8. Electricity

    Electricity use declined by 0.6% year-on-year in December, as it declined in some of the major industries such as petrochemical and iron & steel.

    9. Nuclear

    The total nuclear generation decreased in December (-7.9%, yoy) for the first time in 12 months, because the operations were suspended at more reactors.

    10. Heat and Renewable energy

    Heat energy use increased by 15.1% year-on-year in December, which was affected by temperature conditions and the recovery of service production.

    Renewable & other energy generation grew more slowly, and its final use also declined, and consequently, the total renewable & other energy use fell by 14.2% year-on-year in December.

    11. Industry

    Industrial energy use went down by 9.3% year-on-year in December due to output reductions in major industries amid the economic slowdown.

    12. Transport

    Transport energy use posted a year-on-year growth of 0.7% in December, led by the road transport sector, though it declined in the aviation sector.

    13. Buildings

    Energy use in buildings rose by 3.4% year-on-year in December, as it grew in both of the residential and commercial sectors, affected by changes in temperature.

    14. Power Generation

    Coal and gas-fired generation rebounded in December, while nuclear generation decreased, and the total power generation grew by 4.1% on a year-on-year basis.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production Ratio & Output by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Supply (TPES) and Share of TPES by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2023.02
    • Date2023/03/02
    • Author Energy Outlook Research Team
    • Number of downloads 16

    1. The Economy and the Industry

    The mining & manufacturing production index went down by 3.4% year-on-year in November, as the production decreased in large energy consuming industries except a few sectors.

    The service production index has grown for 22 consecutive months, although the pace of growth has been slower due to the economic slump.

    2. Energy Prices[1]

    In November, international oil prices fell due to growing concerns about an economic downturn caused by the US Federal Reserve's interest rate hikes and the resurgence of COVID-19 in China.

    In November, gasoline price maintained a downward slide, while diesel price rebounded, because its global price increased in the prior month.

    City gas rates for residential and general customers were flat in November, while the rates for office heating and industrial customers slightly declined.

    Electric rate for residential customers remained the same in November, while the rates for general and industrial customers surged, as they were adjusted for the winter season.

    3. Energy Supply

    The total energy import volume decreased by 0.8% year-on-year in November, as the import of major energy sources declined except crude oil.

    4. Energy Consumption

    Total Primary Energy Demand (TPES) went down by 6.0% year-on-year in November, as the use of all energy sources declined except nuclear energy.

    Total Final Consumption (TFC) posted a year-on-year drop of 6.6% in November, as energy use declined in all end-use sectors, especially in the residential sector.

    5. Coal

    Coal use went down by 13.3% year-on-year in November, as it dropped faster in both of the industrial and power generation sectors.

    6. Petroleum

    Petroleum use dropped by 5.7% year-on-year in November, as it decreased evenly in most of the end-use sectors.

    7. Gas

    Natural gas use declined by 9.6% year-on-year in November, because it declined in the power generation and end-use sectors.

    The final use of gas dropped by 7.5% year-on-year in November with the industrial and building sectors leading the downward trend, which was affected by the economic slowdown and temperature conditions.

    8. Electricity

    Electricity use decreased by 0.8% year-on-year in November, led by the industrial sector in the midst of a slowdown in the overall economy.

    9. Nuclear

    The total nuclear generation grew by 3.2% year-on-year in November as a result of the test operation of Shin Hanul unit1 and a drop in daily average preventive maintenance.

    10. Heat and Renewable energy

    Heat energy use dropped by 15.4% year-on-year in November, which was attributed to the decreased number of heating degree days and slower growth in service production.

    Renewable & other energy use declined by 1.3% year-on-year in November, and the decline was seen mostly in the end-use sectors.

    11. Industry

    Industrial energy use went down by 7.6% year-on-year in November, as the production declined in most of the subsectors, affected by the stagnant economy.

    12. Transport

    Transport energy use fell by 5.7% year-on-year in November, as it declined in all end-use sectors.

    13. Buildings

    Energy use in buildings was down 4.4% year-on-year in November, as it fell sharply in the residential sector, though it grew in the commercial sector

    14. Power Generation

    The total power generation and fuel input dropped by 1.4% and 4.7% respectively in November on a year-on-year basis due to falling electricity demand.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production Ratio & Output by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Supply (TPES) and Share of TPES by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2023.01
    • Date2023/02/01
    • Author Energy Outlook Research Team
    • Number of downloads 16

    1. The Economy and the Industry

    The mining & manufacturing production index went down by 1.2% year-on-year in October, owing to the weak performance of major industries that consume the most energy, except the automobile industry.

    The service production index increased by 4.8% year-on-year in October, with the service industry showing a steady recovery trend, although the pace of growth was slower.

    2. Energy Prices[1]

    Global oil price increased in October, after the OPEC+ agreed to cut their crude oil production, although the increase was limited due to China's lockdown policy.

    The prices of gasoline and diesel at gas stations dropped by 3.7% and 0.6% respectively in October from the previous month, affected by lower prices in the global market.

    City gas rates increased in all end-use sectors in October, as the unit settlement price and base material cost were raised.

    Electric rates increased in all end-use sectors in October, reflecting the rises in base fuel cost and energy charge.

    3. Energy Supply

    The total energy import volume decreased by 6.1% year-on-year in October, as the import of major energy sources declined except gas.

    4. Energy Consumption

    Total Primary Energy Demand (TPED) fell by 4.4% year-on-year in October, as the use of major energy sources declined except nuclear energy.

    Total Final Consumption (TFC) declined by 3.7% year-on-year in October, as industrial energy use decreased steadily, while the transport and building sectors used more energy.

    5. Coal

    Coal use decreased by 8.9% year-on-year in October, as it continued to decline in the industrial and power generation sectors.

    6. Petroleum

    Petroleum use fell by 5.7% year-on-year in October, driven by a sharp drop in industrial petroleum use, although it grew in the transport sector.

    7. Gas

    Gas use decreased by 8.2% year-on-year in October, as it declined in both of the power generation and industrial sectors, although it increased in the building sector.

    8. Electricity

    Electricity use grew by mere 1.2% year-on-year in October, despite growing demand in the building sector, as it was stagnant in the industrial sector.

    9. Nuclear

    The total nuclear generation rose by 6.8% year-on-year in October, as its capacity factor increased due to a drop in preventive maintenance per day.

    10. Heat and Renewable energy

    Heat energy use posted a year-on-year growth of 5.3% in October, with the residential sector driving the growth, while it declined in the commercial sector.

    Renewable & other energy use increased by 9.1% year-on-year in October, and the power generation sector led the growth.

    11. Industry

    Industrial energy use went down by 8.6% year-on-year in October, as energy use decreased in the petrochemical and primary metals sector.

    12. Transport

    Transport energy use posted a year-on-year growth of 9.4% in October, as it was up over 10% in the road transport sector.

    13. Buildings

    Energy use in buildings rose by 1.5% year-on-year in October, affected by weather conditions and the recovery of service businesses.

    14. Power Generation

    The total power generation and fuel input declined by 0.9% and 2.7% respectively in October compared to the same month last year, despite growing electricity use.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production Ratio & Output by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Supply (TPES) and Share of TPES by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2022.12
    • Date2023/01/02
    • Author Energy Outlook Research Team
    • Number of downloads 15

    1. The Economy and the Industry

    Gross Domestic Product (GDP) posted a year-on-year growth of 3.1% in 3Q, driven by growing private spending and facility investment as well as a slower decline in construction investment.

    The mining & manufacturing production index increased by 0.7% year-on-year in September, led by the automobile sector, even though the overall industrial production was sluggish.

    The service production index went up by 5.9% year-on-year, as the sector has continued to recover.

    2. Energy Prices[1]

    Global oil price dropped by 5.9% in September from the previous month, affected by a strong dollar and more concerns about the global economic recession.

    Gasoline and diesel prices at gas stations fell by 3.5% and 2.1% respectively in September from the previous month reflecting the downward trend in global prices.

    City gas rates for residential and general customers remained flat in September, while the rates for office heating and industrial customers were raised by around 10% than the previous month.

    Electric rate for residential customers was flat in September, while the rates for general and

    3. Energy Supply

    The total energy import volume fell by 3.0% year-on-year in September, as the import volume of petroleum products and bituminous coal dropped sharply.

    4. Energy Consumption

    The Total Primary Energy Demand (TPED) decreased by 6.6% year-on-year in September, as almost all energy use declined except nuclear energy.

    Total Final Consumption (TFC) fell by 8.3% year-on-year in September, with the industrial and transport sectors leading the decline, while it slightly increased in the building sector.

    5. Coal

    Coal use decreased by 9.3% year-on-year in September, as its use steadily declined in the industrial and power generation sectors.

    6. Petroleum

    Petroleum use was down 10.8% year-on-year in September, as it dropped in nearly all sub sectors except for power generation.

    7. Gas

    Gas use decreased by 9.5% year-on-year in September, as it dropped faster in the power generation and industrial sectors.

    8. Electricity

    Electricity use grew by mere 1.3% year-on-year in September, even though it grew rapidly in the building sector, owing to the drop in industrial electricity use.

    9. Nuclear

    The total nuclear generation was up 15.8% year-on-year in September, as its capacity factor increased due to a drop in daily average preventive maintenance.

    10. Heat and Renewable energy

    Heat energy use posted a year-on-year growth of 9.8% in September, after it has increased in all sectors for three consecutive months.

    Renewable & other energy use increased by 4.0% year-on-year in September, with the power generation sector leading the growth.

    11. Industry

    Industrial energy use dropped by 11.3% year-on-year in September, as it declined in the petrochemical, primary metals and fabricated metals sectors all together.

    12. Transport

    Transport energy use went down by 7.0% year-on-year in September, as it was down almost 8% in the road transport sector.

    13. Buildings

    Energy use in buildings rose by 2.1% year-on-year in September, led by the commercial sector, amid a recovery in the service industry.

    14. Power Generation

    The total power generation and fuel input rose by no more than 2.0% and 0.9% respectively on a year-on-year basis, owing to the slower growth in electricity use.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production Ratio & Output by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Supply (TPES) and Share of TPES by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2022.11
    • Date2022/12/01
    • Author Energy Outlook Research Team
    • Number of downloads 18

    1. The Economy and the Industry

    The mining & manufacturing production index went up by 1.5% year-on-year in August, despite the economic slowdown, as the production increased in some sectors including the auto sector.

    The service production index increased by 7.4% year-on-year in August, led by the major service industries such as wholesale & retail and food & accommodation.

    2. Energy Prices[1]

    Global oil price dropped by 6.3% in August from the previous month due to the strong dollar and concerns about the global economic recession.

    Gasoline and diesel prices at gas stations plunged in August, partly affected by the previous month's price drop in the global market.

    City gas rates for residential and general customers were flat in August, while the rates for office heating and industrial customers sharply increased.

    Electric rates for residential, general and industrial customers remained flat in August compared to the previous month at 159.5 won/kWh, 117.9 won/kWh, 120.7 won/kWh.

    3. Energy Supply

    The total energy import volume posted a year-on-year growth of 1.5% in August, led by crude oil and gas.

    4. Energy Consumption

    Total Primary Energy Supply (TPES) increased by 3.9% year-on-year in August, which was driven by growing use of nuclear energy and petroleum, while coal and gas use decreased.

    Total Final Consumption (TFC) posted a year-on-year growth of 2.6% in August, with the building and transport sectors driving the growth, although the industrial energy use decreased.

    5. Coal

    Coal use decreased by 8.6% year-on-year in August, as it dropped in both of the industrial and power generation sectors for two consecutive months.

    6. Petroleum

    Petroleum use rose by 6.6% year-on-year in August, led by the transport sector, while it was flat in the industrial sector.

    7. Gas

    In August, gas use fell for the second consecutive month in the industrial sector and continued to decline in the power generation sector, and accordingly, the total gas use decreased by 4.2% yoy.

    8. Electricity

    Electricity use increased by 2.5% year-on-year in August, led by the industrial and commercial sectors, while it declined in the residential sector.

    9. Nuclear

    The total nuclear generation posted a year-on-year growth of 27.6% in August, as its capacity factor increased partly due to a drop in the number of reactors that were subject to the planned preventive maintenance.

    10. Heat and Renewable energy

    Heat energy use increased in all sectors, posting a year-on-year growth of 15.0% in August.

    Renewable & other energy use maintained the upward trend, posting a year-on-year growth of 12.2% in August, and the power generation sector led the growth.

    11. Industry

    Industrial energy use went down by 1.9% yoy in August, with the petrochemical and primary metals sectors leading the downward slide, while the fabricated metals sector consumed more energy.

    12. Transport

    Transport energy use posted a year-on-year growth of 18.9% in August, as energy use grew in all sub-sectors except the rail sector.

    13. Buildings

    Energy use in buildings went up by 3.5% year-on-year in August, led by the commercial sector, partly because the service industry performed well.

    14. Power Generation

    The total power generation and fuel input rose by 4.2% and 5.2% respectively in August on a year-on-year basis as a result of increased electricity consumption.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production Ratio & Output by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Supply (TPES) and Share of TPES by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


    Attachments
  • KEEI Korea Energy Trends, 2022.10
    • Date2022/11/01
    • Author Energy Outlook Research Team
    • Number of downloads 19

    1. The Economy and the Industry

    The mining & manufacturing production index posted a year-on-year growth of 1.5% in July, led by the semiconductor and automobile sectors, although the production declined in the iron & steel and basic chemical sectors.

    The service production index went up by 4.6% year-on-year (in July), as production increased, especially in the food & accommodation sectors.

    2. Energy Prices[1]

    Global oil price declined in July partly amid concerns on the global economic recession, even though geopolitical risks surrounding Russia persisted.

    Gasoline and diesel prices fell by 2.6% and 0.2% respectively in July from the previous month, owing to the global price decline and an additional fuel tax cut.

    The relative price of propane in terms of city gas for industrial customers (propane/city gas) dropped by 12.2% to 1.35 in July from the previous month.

    City gas rates increased in all end-use sectors in July, as the increase in LNG import price was reflected in raw material costs.

    Electric rates increased in all end-use sectors by around 4% in July, as the fuel cost pass-through adjustment rate was revised upward in 3Q.

    3. Energy Supply

    The total energy import volume was down 1.6% year-on-year in July, as the import volume of all energy resources declined except crude oil.

    4. Energy Consumption

    Total Primary Energy Supply (TPES) increased by 2.1% year-on-year in July, led by growing use of nuclear and renewable energy, while coal and petroleum use decreased.

    Total Final Consumption posted a year-on-year growth of 1.7% in July, led by the building and transport sectors, although the industrial energy use slightly declined.

    5. Coal

    Coal use declined by 4.1% year-on-year in July, as it started to decline in the industrial sector and continued to decline in the power generation sector.

    6. Petroleum

    Petroleum use increased by 2.0% year-on-year in July, with the transport and industrial sectors driving the growth.

    7. Gas

    Gas use decreased by 4.9% year-on-year in July, as it continued to decline in the power generation sector and started to decline in the industrial sector.

    8. Electricity

    Electricity use surged in the building sector and grew quite fast in the industrial sector, and overall, the total electricity use grew by 5.6% year-on-year in July.

    9. Nuclear

    The total nuclear generation jumped 24.8% year-on-year in July, as its capacity factor increased due to a drop in the number of reactors that were subject to the planned preventive maintenance.

    10. Heat and Renewable energy

    Heat energy use grew by 5.0% year-on-year in July, as it increased in all end-use sectors.

    Renewable & other energy use posted a year-on-year growth of 11.8% in July, and it grew more strongly in the power generation and transport sectors.

    11. Industry

    Industrial energy use slid by 0.4% year-on-year in July, with the primary metals sector leading the downward trend, although it increased in the petrochemical and fabricated metals sectors.

    12. Transport

    Transport energy use increased by 4.9% year-on-year in July, as it increased in all sub-sectors including the road transport and aviation sectors.

    13. Buildings

    Energy use in buildings grew by 7.6% year-on-year in July, as it grew in the residential, commercial and public sectors all together.

    14. Power Generation

    The total power generation and fuel input grew by 1.6% and 4.2% respectively in July on a year-on-year basis, as a result of growing electricity consumption.

    Appendix : Major indicators & statistics of energy demand and supply

    Major Statistics & Indicators of the Economy

    The Index of Production Ratio & Output by Sectors

    International Energy Prices

    Domestic Energy Prices

    Total Primary Energy Supply (TPES) and Share of TPES by Sources

    Total Final Consumption (TFC) and Share of the Total Final Consumption by Sources

    Statistics on Energy Production Facilities and Statistics on Energy Consumption



    [1] This report presents the energy price trend of the month for which energy consumption data is available. For more on the latest price trend, see Energy Supply and Demand Brief.


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