COAL -8.6%
PETROLEUM 11.2%
LNG 1.5%
NUCLEAR 31.0%
NEW & RENEWABLE -3.8%
SEPTEMBER. 2021
KEEI
12
MONTHLY
KOREA ENERGY
TRENDS
This publication is derived from Energy Demand & Supply
Statistics and Energy Price Statistics issued until September 2021
Table of Contents
1. The Economy and the Industry ... 4
2. Energy Prices ... 6
3. Energy Supply ... 9
4. Energy Consumption ... 10
5. Coal ... 12
6. Petroleum ... 13
7. Gas ... 14
8. Electricity ... 15
9. Nuclear ... 16
10. Heat and Renewable energy ... 17
11. Industry ... 18
12. Transport ... 19
13. Building ... 20
14. Transformation ... 21
App. Major Indicators & Statistics of Energy Supply and Demand ... 22
1. The Economy and the Industry
□ The mining & manufacturing index in September posted a year-on-year decline of 1.8% due to weak production in the automobile sector although overall production activities showed signs of recovery
o As demand for contactless activities continuously increasing, the semiconductor production index rose by 30.6% year-on-year, with demand for mobile semiconductor rising
o The basic chemical material production index climbed up by 8.0% year-on-year as the demand for contactless lifestyle items kept increasing and the demand for synthetic resin and synthetic rubber also jumped on the back of the recovery of the construction and other front industries
o Even though some steel-demand industries such as automobile experienced a downturn, the steel production index was up by 2.7% year-on-year thanks to the business recovery in construction, shipbuilding and electric appliance sectors
o The automobile production index plunged by 24.3% year-on-year as production dropped due to Chuseok holidays and a failure of between the supply and demand of some parts
□ The service production index stepped up by 3.4% year-on-year as service production activities picked up thanks to National Relief funds being distributed
o Another round of COVID-19 National Relief funds was distributed by the government and the restriction on private gatherings was eased as a vaccine incentive. Against this backdrop, production activities significantly got stimulated in the food & accommodation sector soared by 11.3% year-on-year
► Major economic and industrial indicators
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
GDP (trillion won)
1 836.9 1 352.8 459.3 1 406.4 - - 477.6
(-0.9) (-0.8) (-1.0) (4.0) - - (4.0)
Total export ($billion, customs
clearance basis)
512.5 370.6 47.8 467.7 55.5 53.2 55.9
(-5.5) (-8.7) (7.2) (26.2) (29.7) (34.7) (16.9)
Industrial production index
(2015=100)
106.3 104.1 112.1 111.8 115.8 109.5 110.1
(-0.3) (-0.5) (7.3) (7.3) (7.8) (9.9) (-1.8)
Semi-conductors
230.6 223.0 253.1 285.4 306.9 325.0 330.5
(22.6) (26.9) (24.6) (28.0) (34.7) (36.8) (30.6)
Basic chemical products
102.3 103.6 104.3 109.8 114.2 117.8 112.6
(-6.0) (-5.0) (-7.6) (6.1) (10.0) (12.0) (8.0)
Iron&Steel
92.1 90.7 93.0 97.5 102.6 98.9 95.5
(-6.3) (-7.9) (-0.1) (7.5) (19.3) (14.7) (2.7)
Cars
84.1 81.0 97.2 87.1 90.0 73.1 73.6
(-9.9) (-12.3) (16.7) (7.6) (-3.4) (6.1) (-24.3)
Service production index
(2015=100)
106.2 104.8 106.9 108.9 111.0 108.5 110.5
(-2.0) (-2.0) (0.1) (4.0) (4.0) (4.2) (3.4)
Wholesale & Retail
101.9 100.5 105.9 104.5 106.1 102.0 106.1
(-2.6) (-2.9) (3.0) (4.0) (5.5) (5.4) (0.2)
Restaurant &
Accommodation
79.5 80.4 72.3 77.0 83.2 80.1 80.5
(-18.5) (-16.3) (-21.0) (-4.2) (-8.0) (-5.3) (11.3)
2. Energy Prices 1
Global Energy Prices
□ In September, the global average crude oil price stepped up by 5.5% month-on-month. Similarly, the prices of all energy sources rapidly rose up with a 5.9% increase for LNG and a 9.5% increase for coal
o After Hurricane Ida hit the Gulf Coast, many Gulf of Mexico production platforms and refineries were off and the U.S. crude oil inventory declined. As a result, the global crude oil price in September took an upturn compared to prior month
o The demand for natural gas stock for winter increased and the gas supplies in the U.S. fell due to Hurricane Ida. Consequently, the global natural gas price went up and the import price also rose at a greater level than last month
o Australian coal price kept rising for five consecutive months since May driven by several factors including an increase in China’s electricity demand, China government’s environmental regulations and its ban on Australian coal
► Global energy prices
2019 2020 2021
M7 M8 M9 M7 M8 M9
Crude oil (US$/bbl)
61.6 41.6 42.4 43.8 41.0 73.2 69.2 73.0
(-10.2) (-32.4) (-31.2) (-24.2) (-31.8) (72.6) (58.1) (78.1)
Natural gas (US$/MMBTU)
10.6 8.3 7.8 6.3 5.9 10.4 10.8 11.4
(-1.1) (-21.3) (-23.1) (-41.6) (-42.0) (33.0) (70.3) (94.4)
Coal (US$/ton)
77.8 60.8 51.6 50.1 54.6 152.0 169.6 185.7
(-27.3) (-21.9) (-28.5) (-23.5) (-17.2) (194.7) (238.2) (240.1)
Note: Global oil price is the average of the three benchmarks; Brent, Dubai, WTI, Natural gas and coal prices are based on Japan’s LNG importing price from Indonesia (CIF) and the price of Australian coal. ( ) is year-on-year growth rates (%)
Source: www.petronet.co.kr, World Bank(Commodity Markets)
► Global prices of major energy sources
1
This report presents the energy price trend of the month for which energy consumed data is available. For more on the
-4.0 8.0 12.0 16.0
- 50 100 150 200
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
Natural Gas(US$/MMBTU)
Coal Oil Natural Gas Coal (US$/ton), Oil (US$/bbl)
Domestic energy prices
□ The prices for gasoline and diesel stayed at the last month’s level as the growth in global oil price was not reflected in the prices
o Despite an increase in global crude oil prices, the average prices of gasoline and diesel at gas stations inched down by 0.2% as the unit cost of import stayed the same as last month, because it took time for the global oil price to be reflected in the domestic market. In terms of the year-on-year basis, the prices skyrocketed by 21.5% and 24.5%, respectively
o The B-C oil price showed a month-on-month growth of 2.4% for three months in a row and a year-on- year growth of 33.6%
□ As the supply prices were marked up due to an increase in global price in August, the prices for propane and butane in September went up by 2.2% and 3.0% month-on-month
o As Saudi Aramco increased the global propane and butane prices in August, LPG providers marked up the supply prices by 50KRW/kg
► Domestic petroleum product prices
2019 2020 2021
M7 M8 M9 M7 M8 M9
Gasoline (won/liter)
1 472.6 1 381.2 1 360.3 1 361.1 1 352.5 1 629.3 1 645.8 1 642.7
(-6.9) (-6.2) (-8.8) (-8.9) (-11.6) (19.8) (20.9) (21.5)
Diesel for transport (won/liter)
1 340.6 1 189.5 1 162.9 1 163.6 1 154.5 1 425.5 1 440.5 1 437.2
(-3.7) (-11.3) (-14.0) (-13.9) (-16.3) (22.6) (23.8) (24.5)
Bunker-C (won/liter)
744.5 572.9 524.7 553.7 575.2 728.4 750.1 768.2
(1.3) (-23.0) (-32.4) (-33.1) (-23.0) (38.8) (35.5) (33.6)
Propane (won/kg)
1 869.6 1 850.3 1 806.0 1 806.0 1 821.0 2 036.4 2 114.5 2 160.1
(-2.6) (-1.0) (-2.5) (-1.9) (-0.6) (12.8) (17.1) (18.6)
Butane for transport (won/liter)
806.3 790.8 759.9 760.4 771.5 906.3 952.3 980.5
(-7.8) (-1.9) (-4.6) (-3.2) (-1.7) (19.3) (25.2) (27.1)
Note: Gasoline, diesel and butane is based on charging station prices, Bunker-C is based on dealership prices, propane is based on sales shop prices. ( ) is year-on-year growth rates (%)
Source: www.opinet.co.kr
► Domestic petroleum product prices
- 500 1 000 1 500 2 000 2 500
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
won/liter, won/kg
Gasoline Diesel for transport Kerosene Bunker-C Propane
Butane for transport
□ In September, city gas prices for commercial use and industrial use were marked up by 6.7% and 8.4%, respectively, on a month-on-month basis
o The prices for commercial and industrial city gas uses, adjusted every month under Fuel Adjustment Mechanism (FAM), showed a month-on-month rise due to the mark up of city gas wholesale price. In contrast, the prices for residential and general uses, which respond to civilian demands, were frozen
□ After Fuel Adjustment Mechanism (FAM) was implemented, the electricity price in September was frozen for the third quarter as well, staying the same for nine months in a row
o Although the increase in global oil price could be a factor to cause a price rise, it was decided to freeze the electricity price to stabilize the living of the people as COVID-19 pandemic became prolonged and a strong increase in prices took place since the second quarter
► City gas prices by end-use sectors
Source: Seoulgas
► Electricity prices by end-use sectors
Note: The electricity prices by end-use sectors refer to the prices for residential use ([high voltage], the 2nd stage price), general use ([A], low voltage) and Industrial use ([B], high voltage B middle load), including Climate Environmental Price
Source: KEPCO 8 10 12 14 16 18
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
won/MJ
Residential General(1) Commercial Industrial
50 100 150 200 250
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
won/kWh
General Industrial Residential
3. Energy Supply
□ The total energy import volume in September soared by 7.9% year-on-year with a growth in petroleum product and LNG imports, although crude oil and coal imports showed a decline o Despite of an increase in crude oil fed into refineries, the import volume of crude oil dropped by 1.5%
year-on-year. The end-of-month stock of crude oil plunged by 14.6%
o The import volume of petroleum products jumped up by 17.6% year-on-year on the back of a growth in naphtha imports, while B-C oil and LPG declined by 35.4% and 19.7%
o Despite of increased import of coking coal, the import volume of bituminous coal fell by 7.1% year-on- year as steam coal experienced a decline due to reduction of coal-fired power generation
o As the government amended the calculation method for mandatory natural gas stock, Korea gas Corporation expanded its gas imports. Against this backdrop, the LNG import volume rose by 26.2%
year-on-year
► Import and domestic production of energy
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
Import volume
Crude oil (Mbbl)
980.3 744.1 79.8 707.7 78.0 82.8 78.6
(-8.6) (-7.8) (0.6) (-4.9) (-9.7) (4.9) (-1.5)
Petroleum product (Mbbl)
347.4 275.0 29.7 289.0 36.9 34.7 34.9
(-1.4) (6.0) (-8.4) (5.1) (15.9) (34.9) (17.6)
Bituminous coal (Mton)
115.5 86.4 11.0 82.3 11.4 10.4 10.2
(-13.0) (-11.5) (-0.5) (-4.8) (6.0) (12.4) (-7.1)
Anthracite (Mton)
6.3 4.7 0.6 4.8 0.6 0.7 0.5
(-8.3) (-11.1) (182.6) (2.4) (5.3) (18.5) (-15.4)
LNG (Mton)
40.0 28.3 2.9 34.3 4.0 3.5 3.7
(-1.9) (-2.4) (18.2) (21.4) (70.4) (77.8) (26.2)
Import volume (Mtoe)
325.4 244.3 26.6 249.9 30.5 29.5 28.7
(-6.8) (-5.7) (-4.4) (2.3) (12.5) (18.3) (7.9)
Import value (billion US$, CIF)
86.6 66.7 6.5 93.3 12.2 12.0 12.3
(-31.7) (-29.9) (-27.9) (39.8) (89.5) (100.6) (88.7)
Energy share of total import value
(%)
18.4 19.2 16.6 21.0 22.6 23.3 23.8
Foreign energy dependence (%)*
92.7 92.7 91.9 92.6 92.6 92.6 92.7
Domestic production
Hydropower (TWh) 7.1 5.8 0.9 5.3 0.7 0.6 0.6
(14.4) (21.1) (55.6) (-8.2) (16.3) (-43.6) (-34.7)
Anthracite (Mton) 1.0 0.8 0.1 0.7 0.1 0.1 0.1
(-6.0) (-4.6) (-3.4) (-13.9) (-8.1) (-10.3) (-26.7)
Natural gas (Mton) 0.1 0.1 0.0 0.0 0.0 0.0 0.0
(-28.6) (-26.2) (-93.3) (-70.5) (-83.6) (-88.2) (241.7)
Renewable energy (Mtoe) 19.0 14.1 1.7 15.1 1.7 1.7 1.6
(7.3) (5.5) (17.8) (7.0) (17.3) (4.3) (-3.8)
Note: p means provisional, ( ) is year-on-year growth rates (%), 'Foreign energy dependence (%) including Nuclear energy Source: Monthly Energy statistics(KEEI)
4. Energy Consumption
□ In September, Total Primary Energy Supply (“TPES”) posted a year-on-year increase of 4.5% on the back of a massive growth in nuclear and petroleum consumption, although coal use witnessed a fall
o As for coal use, industrial coal consumption continued to rise (1.1%) thanks to the recovery in steel- demand industries while coal use for power generation showed a significant fall (-14.3%), which made the total coal use to decline by 8.6% year-on-year. On the other side, nuclear power generation skyrocketed by 31.0%, stepping in for reduction of coal-fired generation
o In the petrochemical sector, the export volume increased with global economic recovery and production from front demand industries expanded. Also, new petrochemical facilities were introduced while existing ones getting additions. These favorable factors contributed to a rapid increase in petroleum consumption, mainly driven by naphtha
o Gas use showed a year-on-year increase of 1.5%. However, the growth rate slowed down for two months in a row as gas consumption for power generation climbed up by a mere 2.0%, becoming dull due to decreased electronic use (-0.6%). The building sector also played a role in the slow-down as its gas use declined by 3.3% driven by a temperature effect
□ Driven by the industrial and transport sectors, Total Final Consumption (“TFC”) rose by 5.6% year- on-year, although the building sector witnessed a decrease
o Despite of a decline (-2 days) in working days due to Chuseok holidays, industrial energy use soared by 8.4% year-on-year as the export figure hit a record-high in 65 years leading by semiconductor, petrochemical and steel industries
o Even in the face of extended Social Distancing measures, the energy consumption in the transport sector stepped up by 2.4% with increased travel demand around Chuseok holidays
o Although the commercial sector showed a rise in city gas use thanks to increased service production index, the total energy consumption in the building sector went down by 1.8% year-on-year as the residential sector experienced a decline mainly in its city gas and electricity consumption due to a warm weather
► Energy consumption
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
TPES (Mtoe) 292.1 216.8 23.1 225.6 25.9 25.5 24.2
(-3.6) (-3.9) (0.1) (4.1) (9.2) (4.1) (4.5)
- Non-energy oil&coal excluded
212.5 156.6 16.5 160.7 18.4 17.9 16.6
(-3.2) (-4.1) (2.8) (2.6) (8.7) (0.9) (0.3)
TFC (Mtoe) 222.6 165.7 17.8 173.7 19.0 19.1 18.8
(-3.8) (-3.7) (2.1) (4.8) (7.9) (7.8) (5.6)
Note: p means provisional, ( ) is year-on-year growth rates Source: Monthly Energy statistics (KEEI)
► The growth rates of TPES & TFC and contribution by energy sources and end-use sectors
- 5.0 0.0 5.0 10.0 15.0
2021.07 2021.08 2021.09
Coal Oil Gas Hydro power
Nuclear Renewables TPES
yoy (%, %p)
- 3.0 0.0 3.0 6.0 9.0
2021.07 2021.08 2021.09
Industry Transport Buildings TFC yoy (%, %p)
5. Coal
□ Despite of a growth in the industrial sector, the total coal use in September posted a year-on-year decrease of 8.6% driven by a dramatic fall in the power generation sector
o Industrial coal use slightly increased by 1.1% year-on-year as the steel and cement manufacturing industries grew in their coal consumption. However, the growth was limited with a plunge in industrial anthracite use
o Coal use in the power generation sector reduced sharply as a greater number of generating units were under planned preventive maintenance with many firms participating in the voluntary coal-fired generation cap scheme
► Coal consumption
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
Coal (Mton) 116.6 88.6 10.6 87.4 11.3 11.5 9.7
(-12.4) (-11.0) (-7.8) (-1.4) (5.4) (1.2) (-8.6)
Industry
45.3 33.5 3.9 35.4 4.0 4.2 4.0
(-4.7) (-5.8) (11.1) (5.8) (5.5) (6.4) (1.1)
-Coking-coal
33.8 24.9 2.9 26.5 3.0 3.0 3.0
(-3.3) (-4.5) (-0.3) (6.4) (3.9) (2.6) (3.7)
Buildings
0.5 0.2 0.0 0.2 0.0 0.0 0.0
(-20.8) (-24.2) (-27.8) (-14.9) (20.0) (50.0) (-11.1)
Power generation
70.7 54.9 6.7 51.8 7.3 7.3 5.7
(-16.6) (-13.8) (-16.0) (-5.7) (5.4) (-1.7) (-14.3)
Note: p means provisional, ( ) Is year-on-year growth rates (%) Source: Monthly energy statistics
► The growth rate of coal consumption by use
- 40.0 - 20.0 0.0 20.0 40.0 60.0
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
yoy (%)
Total Iron & steel Cement Power generation
6. Petroleum
□ As the industrial sector witnessed a massive increase and other sectors showed growth, the total petroleum use in September rose by 11.2% year-on-year
o Petroleum use jumped up by 16.0% year-on-year as naphtha consumption kept rising on the back of new facilities and existing ones getting expanded
o With petroleum use in the road and air transport sector both increasing, the total petroleum consumption in the transport sector climbed up by 2.9% year-on-year
o Diesel consumption in the commercial sector went up and kerosene use in the residential sector jumped up due to a base effect, which resulted from a plunge in petroleum use amidst COVID-19 pandemic and typhoon arrivals last year. As a result, petroleum use in the building sector rose by 8.3% year-on-year
► Petroleum product consumption by end-use sectors
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
Petroleum (Mbbl) 872.4 656.4 71.3 688.6 78.9 77.9 79.3
(-5.9) (-4.4) (-1.4) (4.9) (9.0) (8.8) (11.2)
Industry
543.9 415.2 44.9 442.3 51.6 51.8 52.1
(-4.0) (-1.1) (-7.5) (6.5) (11.8) (13.6) (16.0)
-Naphtha
405.3 313.3 33.4 333.5 38.5 39.8 39.6
(-7.6) (-4.9) (-10.3) (6.5) (9.6) (16.9) (18.5)
Transport
277.2 205.7 22.9 207.8 24.0 23.2 23.5
(-8.6) (-8.7) (12.1) (1.0) (1.8) (-0.5) (2.9)
Buildings
44.7 31.1 2.8 32.6 2.5 2.5 3.1
(-8.9) (-11.1) (-4.9) (4.7) (10.6) (13.4) (8.3)
Power generation
6.6 4.3 0.7 5.9 0.7 0.4 0.6
(-23.2) (-35.1) (101.6) (38.0) (132.8) (-21.2) (-12.2)
Note: p means provisional, ( ) is year-on-year growth rates (%) Source: Monthly Energy Statistics
► The growth rates of petroleum product consumption & contribution(%p) by end-use sectors
- 3.0 0.0 3.0 6.0 9.0 12.0
2021.07 2021.08 2021.09
yoy (%)
Transformation Building Transport Industry
Petroleum products
7. Gas
□ As gas use in the building sector declined and the growth in the power generation and industrial sectors slowed down, the total gas use in September ended in growing by 1.5% year-on-year o Gas use in the power generation sector posted a year-on-year growth. However, the growth slowed
down for two consecutive months as electivity consumption decreased (-0.6%) and a significant surge in nuclear power generation although coal-fired generation experienced a drop
o Industrial gas use stayed at the same level as September last year. However, the growth dropped massively as the city gas rate for industrial use skyrocketed by 36.9% and the operating days declined o Despite of a surge in city gas rate (32.2%), the commercial building sector posted a 3.3% growth in its
gas use. However, as gas consumption in the residential sector declined by 8.8% due to a temperature
► Natural gas and city gas consumption
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
LNG (Mton) 42.1 29.7 2.8 33.5 3.4 3.1 2.9
(2.7) (0.7) (17.1) (12.8) (29.1) (2.7) (1.5)
Power generation
18.6 13.4 1.6 16.5 2.0 1.8 1.6
(3.7) (2.6) (27.4) (22.7) (50.0) (4.3) (2.0)
City gas production
18.2 12.5 0.9 13.5 1.0 0.9 0.9
(-3.1) (-6.6) (1.6) (7.7) (7.7) (4.9) (2.4)
Industry(Direct private importer)
2.8 2.0 0.2 2.0 0.3 0.2 0.2
(23.8) (25.2) (26.0) (-1.4) (8.9) (-1.4) (-8.5)
City gas (Bm3) 25.9 18.6 1.4 19.6 1.5 1.4 1.4
(-0.6) (-2.9) (3.9) (5.5) (7.5) (2.9) (-1.3)
Industry(including directly
imported)
11.1 8.0 0.9 8.7 1.0 0.9 0.9
(-0.3) (-2.2) (8.9) (8.3) (14.6) (11.5) (0.0)
Buildings
13.8 9.7 0.4 10.1 0.5 0.4 0.4
(0.0) (-3.0) (-1.9) (4.0) (-2.7) (-9.6) (-3.3)
Transport.
1.1 0.8 0.1 0.8 0.1 0.1 0.1
(-9.6) (-8.9) (-10.1) (-4.4) (-3.4) (-5.8) (-4.1)
Note: p means provisional, ( ) is year-on-year growth rates (%) Source: Monthly energy statistics
► The growth rate of gas(city gas+directly imported LNG)consumption by major industries
- 30.0 - 15.0 0.0 15.0 30.0 45.0 60.0
2019.09 2020.03 2020.09 2021.03 2021.09
yoy (%)
Industrial use Iron & steel Petrochemical Fabricated metals
8. Electricity
□ Despite a growth in the commercial sector, the total electricity use in September inched down by 0.6%
year-on-year as the building sector witnessed a fall in its power use due to a temperature effect o Despite losing two additional working days compared to last year, the electricity use in the industrial
sector stepped up by 1.8% year-on-year driven by production growth in the petrochemical and fabricated metal industries
o While the commercial & public sector posted a growth in its power consumption driven by increased production activities in the service industry, the electricity use in the residential sector greatly dropped due to a base effect from a surge in electricity consumption a year earlier. As a result, the total electricity consumption in the building sector posted a year-on-year decline of 3.3%
► Electricity consumption by end-use sectors
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
Electricity (TWh) 509.3 384.0 45.1 401.5 46.0 48.9 44.8
(-2.2) (-2.5) (3.3) (4.6) (9.3) (9.7) (-0.6)
Industry
270.8 202.4 23.3 211.4 24.4 23.9 23.7
(-3.2) (-3.9) (2.6) (4.5) (8.9) (5.5) (1.8)
Transport
2.9 2.2 0.2 2.0 0.2 0.3 0.2
(-0.3) (-3.1) (-10.6) (-6.7) (-1.0) (5.5) (0.9)
Buildings
235.6 179.5 21.6 188.1 21.3 24.8 20.9
(-0.9) (-0.9) (4.4) (4.8) (9.9) (14.2) (-3.3)
Residential
74.1 56.5 7.6 59.4 6.8 9.0 6.9
(5.1) (5.1) (15.0) (5.3) (13.0) (25.8) (-9.3)
Commercial
124.4 95.4 10.8 105.5 11.9 13.1 11.5
(-8.0) (-7.6) (-4.4) (10.7) (15.6) (16.6) (5.8)
Notes: p means provisional, ( ) is year-on-year growth rates (%) Source: Monthly energy statistics
► The growth rate of electricity consumption in manufacturing industry
- 45.0 - 30.0 - 15.0 0.0 15.0 30.0
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
yoy (%)
Iron & steel Petrochemical Fabricated metal Manufacturing industry
9. Nuclear
□ Nuclear power generation in September skyrocketed by 31.0% year-on-year as the number of units affected by unplanned outage significantly went down
o As for nuclear power generation, the operation rate soared by 17.2%p as units incapable of operating due to forced outage were reduced by five units. And planned preventive maintenance units decreased by one
o The share of nuclear power in the total generation mix reduced steadily since March, 2021. However, its proportion inched up (0.1%p) in August and jumped up by 6.0%p in September year-on-year to reach 26.8%
► Nuclear power plants operation status
2020 2021
2020 2021
9 10 11 12 1 2 3 4 5 6 7 8 9 9 10 11 12 1 2 3 4 5 6 7 8 9 Kori2 1 2 Hanul1 1 1 2 2 Kori3 2 2 1 1 1 Hanul2 2 2 1 1 1 Kori4 2 2 1 1 1 Hanul3 1 1 1 1 1 Shinkori1 2 2 1 1 1 Hanul4 1 1 1 1 Shinkori2 2 1 1 1 Hanul5 1 1 1 Shinkori3 1 Hanul6 1 1 Shinkori4 1 1 1 1 1 2 2 2 Hanbit1 1 1 1 1 1 Wolsong2 1 1 1 1 Hanbit2 Wolsong3 2 1 1 Hanbit3 1 1 1 2 Wolsong4 1 1 Hanbit4 1 1 1 1 1 1 1 1 1 1 1 1 1 Shinwolsong1 1 1 1 1 Hanbit5 1 2 2 2 2 2 1 1 1 1 1 1 1 Shinwolsong2 1 1 Hanbit6 1 1 1 1 1 Notes: ■ normal operation, ■ prevented maintenance, ■ unscheduled shutdown
► The growth rate of nuclear generation & average capacity factor
Note: Capacity factor = Ratio of actual power generated to possible power generation when utilizing 100% of available facility. Facility capacity values are based on end-of-the-month data
-25.0 0.0 25.0 50.0 75.0
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
yoy (%,,%p)
Power generation (%)
Change in capacity factor (%p)
10. Heat and Renewable energy
□ Despite of a decline in the residential sector, the total heat energy consumption in September increased by 2.5% year-on-year driven by the commercial & public sector
o The residential sector witnessed a year-on-year decline of 4.4% in its heat energy use. However, the heat energy comsumption in the commercial sector surged by 27.0% year-on-year with increased production in the food & accommodation industry
□ Renewable and other energy power generation
2significantly dropped by 14.6% year-on-year as water, waste & others experienced a massive fall
o While solar PV and wind power generation increased thanks to expanded facility capacity, the electricity generated from water and waste & others massively declined. Consequently, renewable & other energy power generation posted a year-on-year fall of 14.6%
► Heat energy consumption by sector and the growth rate of total heat energy consumption
► New & renewable energy generation by source and the growth rate of total new &
renewable energy generation
2
Installed capacity and power generation data for renewable energy sources is from Renewable & Other energy section of
- 30.0 0.0 30.0 60.0 90.0- 250 0 250 500 750
2019.09 2020.03 2020.09 2021.03 2021.09
1 000 toe
Public services Commercial
Residential Heat energy
yoy (%)
- 30.0 0.0 30.0 60.0
- 100 0 100 200
2019.09 2020.03 2020.09 2021.03 2021.09
Heating degree days Cooling degree days Heat energy
yoy (%) Degree days
-20.0 0.0 20.0 40.0 60.0
-2 000 - 2 000 4 000 6 000
2019.09 2020.03 2020.09 2021.03 2021.09
yoy, % Fuel Cells
IGCC Waste&others Biofuel Ocean Hydro (Include Small Hydro) Wind Solar PV
New & Renewables MWh
11. Industry
□ Even though the number of working days declined, the energy consumption in the industrial sector rose by 8.4% year-on-year as industrial production continued increasing
o The monthly working days in September reduced by two days year-on-year with Chuseok holidays, which took place in October last year. However, industrial energy consumption maintained a rapid growth of more than 8% as the domestic and global economies kept recovering from the impact of COVID-19 pandemic
► Industrial energy consumption
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
Industry (Mtoe) 138.1 103.7 11.6 110.0 12.7 12.6 12.5
(-3.3) (-2.7) (-0.6) (6.1) (9.9) (9.8) (8.4)
Petrochemical
69.4 53.0 5.8 56.9 6.7 6.7 6.7
(-3.6) (-1.4) (-6.2) (7.5) (13.0) (13.6) (15.4)
- Naphtha
49.7 38.4 4.1 40.9 4.7 4.9 4.9
(-7.6) (-4.9) (-10.3) (6.5) (9.6) (16.9) (18.5)
Iron & Steel
28.1 20.8 2.4 21.7 2.5 2.5 2.4
(-4.9) (-5.8) (-0.6) (4.2) (3.4) (1.5) (1.1)
-Coking coal
23.6 17.4 2.0 18.5 2.1 2.1 2.1
(-3.3) (-4.5) (-0.3) (6.4) (3.9) (2.6) (3.7)
Fabricated metal
11.1 8.2 0.9 9.0 1.0 0.9 1.0
(-2.7) (-3.8) (3.5) (10.0) (12.8) (6.3) (4.3)
Share of feedstock (%)
57.5 58.0 57.0 58.9 58.7 59.8 60.4
Note: p means provisional, ( ) is year-on-year growth rates (%) Source: Monthly energy statistics
► Industrial energy consumption & production index
- 30.0 - 15.0 0.0 15.0 30.0
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
yoy (%)
Energy consumption
Iron & steel production index Basic compounds production index ICT production index
12. Transport
□ Even in the face of another COVID-19 wave, the energy use in the transport sector posted a year- on-year increase of 2.4% with increased energy consumption in the road and air transport sectors o The global oil price, experiencing a drop last month, started to rise again in September and the travel demand went up due to Chuseok holidays, dwarfing the negative impact of another wave of Coronavirus.
Against this backdrop, the energy use in the road transport sector stepped up by 1.8% year-on-year o Since the demand for domestic and global trips rose during Chuseok holidays, the energy use in the air
transport sector skyrocketed by 45.9% year-on-year
o With diesel and heavy oil consumption both falling by more than 10%, the energy use in the marine transport sector dropped substantially by 14.0% year-on-year
► The growth rate of petroleum consumption in the transport sector
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
Transport (Mtoe) 39.41 29.30 3.26 29.53 3.41 3.31 3.34
(-8.3) (-8.4) (12.2) (0.8) (1.2) (-0.2) (2.4)
Road
33.41 24.76 2.81 25.24 2.91 2.87 2.86
(-4.7) (-5.0) (21.1) (1.9) (2.3) (-0.2) (1.8)
Navigation
3.11 2.36 0.28 2.26 0.26 0.24 0.24
(17.5) (16.0) (70.1) (-4.2) (0.6) (-4.6) (-14.0)
Aviation
2.56 1.92 0.15 1.79 0.21 0.18 0.21
(-48.1) (-47.1) (-62.7) (-6.8) (-11.1) (6.0) (45.9)
Rail
0.33 0.25 0.03 0.23 0.03 0.03 0.03
(-3.5) (-5.6) (-9.7) (-8.0) (-2.8) (6.1) (-4.7)
Note: p means provisional, ( ) is year-on-year growth rates (%) Source: Monthly energy statistics
► The growth rates of energy & major petroleum product consumption in the transport sector
- 1.0 0.0 1.0 2.0 3.0
- 20.0 0.0 20.0 40.0 60.0
2021.07 2021.08 2021.09
yoy (%) yoy (%)
Gasoline Diesel LPG Bunker-c Fuel oil Transport
13. Buildings
□ Energy use in the building sector went down by 1.8% year-on-year as the residential sector showed a drop due to a temperature effect and a base effect
o Energy use in the building sector decreased year-on-year driven by the residential sector with a temperature effect and a fall in precipitation
o As for the energy use in the residential sector, the use of city gas, electricity and heat energy dropped by 8.8%, 9.3% and 4.4% respectively, as outdoor activities became active due to a base effect from a decline in outdoor activity amidst typhoon arrivals last year and a temperature effect also came into play
o Energy use in the commercial & public sector went up by 1.4% year-on-year as the limit on private gathering was eased and the food & accommodation as well as retail industries enjoyed a business recovery (11.3% and 7.0% production index growths, respectively) thanks to National Relief Funds provided by the government
► Energy consumption in buildings
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
Buildings (Mtoe) 45.0 32.8 2.9 34.2 2.9 3.2 2.9
(-1.0) (-2.4) (2.8) (4.3) (7.4) (9.0) (-1.8)
Residential
23.2 16.4 1.2 16.9 1.0 1.2 1.1
(2.6) (0.3) (8.7) (3.1) (3.7) (11.3) (-6.5)
Commercial
16.1 12.1 1.3 13.3 1.4 1.5 1.3
(-8.1) (-8.2) (-5.6) (10.3) (15.4) (12.8) (7.1)
Public∙others
5.7 4.3 0.5 3.9 0.4 0.4 0.4
(6.7) (5.7) (13.8) (-8.0) (-6.5) (-7.2) (-13.8)
Heating degree days
2 448.0 1 476.7 3.3 1 492.3 - - -
(3.3) (-2.4) (266.7) (1.1) - - (-100.0)
Cooling degree days
85.2 85.2 1.7 101.3 67.3 34.0 -
(- 29.2) (- 29.2) (- 72.1) ( 18.9) (1 822.9) (- 55.6) (- 100.0)
Note: p means provisional, ( ) is year-on-year growth rates (%) Source: Monthly energy statistics
► Energy consumption in buildings & major indicators
- 20.0 - 10.0 0.0 10.0 20.0 30.0
- 100 - 50 0 50 100 150
2018.09 2019.03 2019.09 2020.03 2020.09 2021.03 2021.09
yoy (%) degree days
Heating degree days
Cooling degree days
Service production index
Energy consumption
14. Transformation
□ The total power generation in September ended up in increasing by around 1% as power consumption became stagnant. Similarly, energy input for generation stayed at last year’s level o Since the total power generation increased by 1.8% year-on-year and the base-load generation (nuclear
+ coal) showed a 3.3% growth, there was a possibility for gas-fired power generation to decrease.
However, the actual gas-fired generation rose by 4.9% as renewable generation, which has a top priority in electricity dispatch, declined by 11.4%
► Electricity Generation in the power generation sector
2020 2021p
M1~9 M9 M1~9 M7 M8 M9
Electricity Generation (TWh) 552.2 412.5 44.6 430.1 54.1 51.8 45.4
(-1.9) (-2.5) (0.3) (4.3) (16.0) (1.5) (1.8)
Coal
196.3 151.8 18.3 146.8 21.4 20.9 16.4
(-13.7) (-10.6) (-11.6) (-3.3) (13.6) (2.1) (-10.7)
Oil
2.3 1.4 0.3 2.8 0.3 0.1 0.3
(-31.5) (-42.4) (167.8) (97.1) (293.5) (-42.5) (-22.2)
Gas
145.9 105.0 12.0 127.8 15.6 13.8 12.6
(1.1) (0.2) (20.9) (21.7) (50.9) (4.0) (4.9)
Nuclear
160.2 117.6 9.3 114.5 12.3 12.8 12.2
(9.8) (3.1) (-10.0) (-2.7) (-10.3) (2.0) (31.0)
Hydro/other renewables
40.4 30.5 4.3 35.4 4.2 3.9 3.8
(3.1) (-1.6) (31.9) (16.1) (39.0) (-10.9) (-11.4)
Baseload
356.5 269.4 27.6 261.2 33.7 33.6 28.5
(-4.5) (-5.1) (-11.1) (-3.0) (3.5) (2.1) (3.3)
Notes: p means provisional, ( ) is year-on-year growth rates (%) Source: Monthly energy statistics
► Power generation by major energy sources
- 30.0 - 20.0 - 10.0 0.0 10.0 20.0 30.0
2020.09 2020.11 2021.01 2021.03 2021.05 2021.07 2021.09
yoy (%p)
Generation share (Coal) Generation share (Nuclear) Generation share (Gas) Capacity factor (Coal)*
Capacity factor (Gas)*
Capacity factor (Nuclear)*
<Appendix> Major indicators & statistics of energy supply and demand
Major Statistics & Indicators of the Economy
2019 2020 2021
M1~9 M7 M8 M9 M1~9 M7 M8 M9
GDP (trillion won) 1 852.7 1 836.9 1 352.8 - - 459.3 1 406.4 - - 477.6
(2.2) (-0.9) (-0.8) - - (-1.0) (4.0) - - (4.0)
Private consumption 894.1 849.1 634.7 - - 213.6 651.9 - - 220.5
(2.1) (-5.0) (-4.5) - - - (2.7) - - (3.3)
Facilities investment 155.3 166.3 122.5 - - 40.7 134.5 - - 42.4
(-6.6) (7.1) (7.4) - - - (9.8) - - (4.2)
Construction investment 265.2 264.1 192.7 - - 65.4 190.0 - - 64.6
(-1.7) (-0.4) (0.5) - - (-1.5) (-1.4) - - (-1.2)
Consumer price index
(2015=100) 104.9 105.4 105.4 104.9 105.5 106.2 107.5 107.6 108.3 108.8 USD to KRW exchange rate
(won) 1 165.4 1 180.3 1 200.7 1 198.9 1 186.9 1 178.8 1 130.9 1 144.0 1 160.3 1 169.5
Benchmark rate (%) 1.6 0.7 0.7 0.5 0.5 0.5 0.6 0.5 0.8 0.8
Coincident composite index
(2015=100) 112.0 112.3 111.8 111.0 111.8 112.3 116.0 117.0 117.1 117.2 Mining & manufacturing
production index (2015=100) 106.7 106.3 104.1 107.4 99.6 112.1 111.8 115.8 109.5 110.1 Manufacturing operation ratio
index (2015=100) 98.4 95.6 93.9 97.3 89.1 101.2 98.6 102.4 96.2 96.9
Average temperature 13.4 13.0 14.8 22.5 26.4 20.1 15.0 26.0 24.8 21.3 - year-on-year difference 0.4 - 0.4 - 0.2 - 2.3 0.3 - 1.6 0.1 3.5 - 1.7 1.2
Heating degree days 2 370.9 2 448.0 1 476.7 - - 3.3 1 492.3 - - -
(-8.7) (3.3) (-2.4) - - (266.7) (1.1) - - (-100.0)
Cooling degree days 120.4 85.2 85.2 3.5 76.5 1.7 101.3 67.3 34.0 -
(- 42.4) (- 29.2) (- 29.2) (- 91.1) ( 2.3) (- 72.1) ( 18.9) (1 822.9) (- 55.6) (- 100.0)
Energy intensity 0.16 0.16 0.16 - - 0.16 0.16 - - 0.16
(-3.6) (-2.9) (-3.3) - - (-3.4) (0.2) - - (1.9)
Per capita consumption
oil (bbl) 17.9 16.8 12.7 1.4 1.4 1.4 13.3 1.5 1.5 1.5
(-0.7) (-6.0) (-4.6) (-7.8) (-12.1) (-1.5) (4.8) (8.9) (8.7) (11.1)
Electricity (MWh) 10.1 9.8 7.4 0.8 0.9 0.9 7.7 0.9 0.9 0.9
(-1.3) (-2.3) (-2.7) (-2.2) (-6.4) (3.2) (4.5) (9.2) (9.6) (-0.7)
City gas (1 000 m3) 0.5 0.4 0.3 0.0 0.0 0.0 0.3 0.0 0.0 0.0
(-4.3) (-3.7) (-6.4) (-9.1) (-4.0) (-0.9) (6.6) (7.0) (4.1) (0.6)
Total energy (toe) 5.9 5.6 4.2 0.5 0.5 0.4 4.4 0.5 0.5 0.5
(-1.6) (-3.8) (-4.1) (-6.5) (-6.4) (-0.0) (4.0) (9.1) (4.0) (4.5)
Note: Figures are based on the real price of 2010, p means provisional, ( ) is year-on-year growth rates (%) Source: BOK Economic statistics system, Korea Statistical Information Service, Monthly Energy Statistics
The Index of Production Ratio & Output by Sectors
(2015=100)
2019 2020 2021
M1~9 M7 M8 M9 M1~9 M7 M8 M9
Industrial production index
All industry 108.6 107.3 105.5 106.8 102.3 109.5 110.3 111.6 108.3 111.0
(1.0) (-1.2) (-1.1) (-1.8) (-3.9) (3.0) (4.6) (4.5) (5.9) (1.4)
Mining & manufacturing 106.7 106.3 104.1 107.4 99.6 112.1 111.8 115.8 109.5 110.1
(0.3) (-0.3) (-0.5) (-2.9) (-3.7) (7.3) (7.3) (7.8) (9.9) (-1.8)
Semiconductor 188.0 230.6 223.0 227.9 237.6 253.1 285.4 306.9 325.0 330.5
(11.7) (22.6) (26.9) (16.8) (20.4) (24.6) (28.0) (34.7) (36.8) (30.6)
Iron & steel 98.3 92.1 90.7 86.0 86.2 93.0 97.5 102.6 98.9 95.5
(-2.2) (-6.3) (-7.9) (-16.0) (-9.9) (-0.1) (7.5) (19.3) (14.7) (2.7)
Cement 94.3 86.6 83.7 81.1 72.6 89.1 88.7 93.2 83.6 82.6
(-5.7) (-8.2) (-9.5) (-15.7) (-20.9) (14.8) (6.0) (14.9) (15.2) (-7.3)
Basic compound 108.9 102.3 103.6 103.8 105.2 104.3 109.8 114.2 117.8 112.6
(-1.4) (-6.0) (-5.0) (-9.8) (-8.1) (-7.6) (6.1) (10.0) (12.0) (8.0)
Transport equipment 93.4 84.1 81.0 93.2 68.9 97.2 87.1 90.0 73.1 73.6
(-0.6) (-9.9) (-12.3) (-8.1) (-10.6) (16.7) (7.6) (-3.4) (6.1) (-24.3)
Electric & electronic 109.6 108.7 105.2 111.6 100.0 119.9 112.5 119.0 110.2 108.9
(2.9) (-0.8) (-1.3) (-2.5) (-4.0) (11.8) (6.9) (6.6) (10.2) (-9.2)
Service 108.4 106.2 104.8 106.7 104.1 106.9 108.9 111.0 108.5 110.5
(1.4) (-2.0) (-2.0) (-1.2) (-3.8) (0.1) (4.0) (4.0) (4.2) (3.4)
Wholesale and retail 104.6 101.9 100.5 100.6 96.8 105.9 104.5 106.1 102.0 106.1
(-0.4) (-2.6) (-2.9) (-2.0) (-5.7) (3.0) (4.0) (5.5) (5.4) (0.2)
Food & Accommodation 97.5 79.5 80.4 90.4 84.6 72.3 77.0 83.2 80.1 80.5
(-1.0) (-18.5) (-16.3) (-9.1) (-16.9) (-21.0) (-4.2) (-8.0) (-5.3) (11.3)
Production output
Iron & steel - Pig iron 47 520.7 45 359.6 33 432.6 3 905.6 4 090.6 3 966.9 34 830.7 4 015.3 4 022.7 3 818.2
(0.8) (-4.5) (-6.0) (-2.5) (-0.3) (1.6) (4.2) (2.8) (-1.7) (-3.7)
Iron & steel - Crude steel 71 411.9 67 078.8 49 543.9 5 529.8 5 773.4 5 747.9 52 866.9 6 124.3 6 103.8 5 440.8
(-1.5) (-6.1) (-7.7) (-8.2) (-2.2) (0.7) (6.7) (10.8) (5.7) (-5.3)
Petrochemical - Basic oil 31 804.1 30 323.6 23 348.0 2 559.3 2 571.4 2 511.6 25 079.4 2 950.2 2 974.0 2 862.9
(2.1) (-4.7) (-1.3) (-11.1) (-8.3) (-8.6) (7.4) (15.3) (15.7) (14.0)
Petrochemical - Intermediate
raw material 16 014.0 15 355.4 11 762.8 1 287.5 1 261.9 1 257.8 11 945.7 1 337.5 1 445.4 1 395.8
(-5.7) (-4.1) (-2.1) (-5.4) (-13.9) (-8.9) (1.6) (3.9) (14.5) (11.0)
Petrochemical - 3 major
products 21 584.6 21 252.7 16 044.8 1 745.2 1 806.3 1 730.5 17 268.2 2 061.4 2 059.2 1 984.6
(-1.0) (-1.5) (-2.2) (-9.5) (-5.4) (-5.3) (7.6) (18.1) (14.0) (14.7)
The number of cars 3 948.1 3 506.8 2 549.2 345.7 233.4 342.5 2 576.6 297.6 234.9 229.4
(-2.1) (-11.2) (-12.5) (-3.9) (-6.4) (23.2) (1.1) (-13.9) (0.7) (-33.0)
Note: p means provisional
Source: Monthly Energy Statistics, Korea Petrochemical Industry Association, Automobile Manufacturers Association
International Energy Prices
2019 2020 2021
M1~9 M7 M8 M9 M1~9 M7 M8 M9
Crude oil (USD/bbl)
WTI 57.0 39.4 38.3 40.8 42.4 39.6 64.8 72.4 67.7 71.5
(-11.9) (-30.9) (-32.8) (-29.2) (-22.7) (-30.4) (69.2) (77.7) (59.7) (80.5)
Dubai 63.5 42.2 41.4 43.3 44.0 41.5 66.2 72.9 69.5 72.6
(-8.5) (-33.6) (-35.3) (-31.6) (-25.6) (-32.1) (59.9) (68.4) (58.0) (75.0)
Brent 64.2 43.2 42.5 43.2 45.0 41.9 67.8 74.3 70.5 74.9
(-10.3) (-32.7) (-34.3) (-32.7) (-24.3) (-32.8) (59.4) (71.9) (56.6) (78.8)
Unit value of import (C&F) 65.5 44.8 45.0 39.2 44.7 44.5 66.4 73.4 73.8 73.7
(-8.2) (-31.7) (-31.6) (-40.1) (-30.6) (-29.4) (47.7) (87.1) (65.3) (65.6)
LNG
From Indonesia (USD/MMBTU) 10.6 8.3 8.8 7.8 6.3 5.9 9.6 10.4 10.8 11.4
(-1.0) (-21.3) (-18.2) (-23.1) (-41.6) (-42.0) (9.0) (33.0) (70.3) (94.4)
Unit value of import
(USD/ton, CIF) 505.4 390.2 415.1 384.0 317.4 263.4 471.3 498.1 534.6 571.3
(-4.0) (-22.8) (-20.1) (-21.4) (-33.8) (-48.3) (13.6) (29.7) (68.4) (116.9)
Bituminous coal (USD/ton)
From Australia 77.9 60.8 58.2 51.6 50.1 54.6 122.8 152.0 169.6 185.7
(-27.2) (-22.0) (-28.5) (-28.5) (-23.5) (-17.2) (111.0) (194.7) (238.2) (240.1)
Unit value of import (CIF) 100.7 77.7 79.9 68.8 70.7 68.4 97.0 102.8 114.7 126.2
(-11.3) (-22.9) (-23.9) (-28.8) (-31.8) (-19.5) (21.4) (49.4) (62.3) (84.4)
Petroleum product (USD/bbl)
Gasoline 72.5 46.7 46.0 46.6 48.2 47.2 75.8 85.4 81.0 84.1
(-9.3) (-35.7) (-35.9) (-36.7) (-31.2) (-36.8) (65.0) (83.0) (67.9) (78.0)
Kerosene 77.3 44.7 44.0 43.9 43.3 39.3 70.6 77.3 74.1 79.9
(-8.9) (-42.1) (-43.4) (-44.0) (-42.0) (-49.4) (60.6) (75.9) (71.0) (103.1)
Diesel 78.2 49.4 49.5 50.2 49.5 44.2 73.2 79.9 76.5 83.0
(-7.9) (-36.8) (-36.8) (-36.4) (-34.4) (-43.4) (47.7) (59.3) (54.8) (87.7)
Bunker-C 57.5 39.2 37.6 39.4 42.2 39.6 62.0 66.2 65.2 73.5
(-11.8) (-31.9) (-39.7) (-40.5) (-22.5) (-35.4) (65.1) (68.3) (54.3) (85.4)
Propane 434.6 397.1 390.0 360.0 365.0 365.0 590.0 620.0 660.0 665.0
(-19.8) (-8.6) (-10.6) (-4.0) (-1.4) (4.3) (51.3) (72.2) (80.8) (82.2)
Butane 441.7 403.8 396.1 340.0 345.0 355.0 575.6 620.0 655.0 665.0
(-18.1) (-8.6) (-10.1) (-4.2) (-4.2) (-1.4) (45.3) (82.4) (89.9) (87.3)
Naphtha 56.9 40.5 39.5 43.5 42.9 43.0 66.9 75.5 70.7 75.0
(-15.1) (-28.9) (-29.3) (-21.8) (-15.1) (-20.4) (69.2) (73.6) (64.8) (74.5)
Note: 1.( )is year-on-year growth rates(%)
2.Gasoline type is 95RON, diesel is 0.001%, Bunker-C is high-sulfur oil(180cst/3.5%), for propane and butane, CP is reference value Source: www.petronet.co.kr, IMF (primary commodity price), Monthly energy statistics
Domestic Energy Prices
2019 2020 2021
M1~9 M7 M8 M9 M1~9 M7 M8 M9
Petroleum product
Gasoline (won/liter) 1 471.9 1 381.6 1 395.4 1 360.3 1 361.1 1 352.5 1 554.4 1 629.3 1 645.8 1 642.7
(-6.9) (-6.1) (-3.7) (-8.8) (-8.9) (-11.6) (11.4) (19.8) (20.9) (21.5)
Diesel (won/liter) 1 340.1 1 189.8 1 206.2 1 162.9 1 163.6 1 154.5 1 351.9 1 425.5 1 440.5 1 437.2
(-3.7) (-11.2) (-9.0) (-14.0) (-13.9) (-16.3) (12.1) (22.6) (23.8) (24.5)
Bunker-C (won/liter) 743.9 573.6 590.2 524.7 553.7 575.2 693.4 728.4 750.1 768.2
(1.2) (-22.9) (-21.6) (-32.4) (-33.1) (-23.0) (17.5) (38.8) (35.5) (33.6)
Propane (won/kg) 1 869.7 1 850.7 1 855.4 1 806.0 1 806.0 1 821.0 2 025.0 2 036.4 2 114.5 2 160.1
(-2.6) (-1.0) (-0.8) (-2.5) (-1.9) (-0.6) (9.1) (12.8) (17.1) (18.6)
Butane (won/liter) 806.2 791.1 794.9 759.9 760.4 771.5 895.5 906.3 952.3 980.5
(-7.8) (-1.9) (-1.5) (-4.6) (-3.2) (-1.7) (12.7) (19.3) (25.2) (27.1)
City gas(won/MJ)
Residential 15.6 15.1 15.4 14.2 14.2 14.2 14.2 14.2 14.2 14.2
(3.9) (-3.6) (-1.1) (-10.7) (-10.7) (-10.7) (-7.4) - - -
General(1) 15.6 14.9 15.2 13.8 13.8 13.8 13.9 13.8 13.8 13.8
(4.9) (-4.7) (-2.1) (-12.2) (-12.2) (-12.2) (-8.6) (-0.0) (-0.0) (-0.0)
Commercial 16.1 15.1 15.8 14.6 14.9 13.7 15.9 16.2 17.2 18.1
(4.4) (-6.4) (-1.3) (-11.4) (-9.5) (-16.9) (0.6) (10.7) (15.7) (32.2)
Industry 13.8 12.6 13.3 11.7 12.1 10.8 13.1 12.9 14.0 14.8
(6.0) (-8.4) (-2.2) (-15.5) (-13.3) (-22.0) (-2.0) (9.9) (16.0) (36.9)
Heat(won/Mcal)
Residential 65.7 66.2 66.5 65.2 65.2 65.2 65.2 65.2 65.2 65.2
(1.8) (0.7) (1.9) (0.8) (-2.8) (-2.8) (-1.9) - - -
Commercial 85.3 85.9 86.3 84.7 84.7 84.7 84.7 84.7 84.7 84.7
(1.8) (0.7) (1.9) (0.8) (-2.8) (-2.8) (-1.9) - - -
Public 74.5 75.1 75.4 74.0 74.0 74.0 74.0 74.0 74.0 74.0
(1.9) (0.7) (1.9) (0.8) (-2.9) (-2.9) (-1.9) - - -
Electricity(won/kWh)
Residential 147.3 147.3 147.3 147.3 147.3 147.3 142.3 142.3 142.3 142.3
- - - (-3.4) (-3.4) (-3.4) (-3.4)
General 84.4 84.4 84.7 105.7 105.7 65.2 79.7 100.7 100.7 60.2
- - - (-5.9) (-4.7) (-4.7) (-7.7)
Industry 96.0 96.0 95.2 108.5 108.5 78.5 90.2 103.5 103.5 73.5
- - - (-5.3) (-4.6) (-4.6) (-6.4)
Note: 1.( )is year-on-year growth rates(%)
2.Electricity prices are based on Residential(High-voltage, 201-400kWh), General((A) Ⅰ, Low-voltage), Industry((B), High-voltageB, optionⅡ mid-load) Source: www.petronet.co.kr, www.seoulgas.co.kr, cyber.kepco.co.kr
Total Primary Energy Supply (TPES)
2019 2020p 2021p
M1~9 M7 M8 M9 M1~9 M7 M8 M9
Coal (Mton) 133.0 116.6 88.6 10.7 11.3 10.6 87.4 11.3 11.5 9.7
(-5.7) (-12.4) (-11.0) (-13.1) (-10.7) (-7.8) (-1.4) (5.4) (1.2) (-8.6)
- Coking coal excluded 98.0 82.8 63.7 7.8 8.4 7.8 60.8 8.3 8.5 6.8 (-7.9) (-15.6) (-13.3) (-16.6) (-13.3) (-10.2) (-4.4) (6.0) (0.6) (-13.1)
Oil (Mbbl) 927.1 872.4 656.4 72.4 71.6 71.3 688.6 78.9 77.9 79.3
(-0.5) (-5.9) (-4.4) (-7.7) (-12.0) (-1.4) (4.9) (9.0) (8.8) (11.2)
- Non-energy oil excluded 451.8 423.6 312.2 34.3 34.0 34.4 317.3 36.1 34.0 35.1
(1.4) (-6.2) (-5.6) (-5.2) (-16.2) (7.5) (1.6) (5.4) (0.2) (2.1)
LNG (Mton) 41.0 42.1 29.7 2.6 3.0 2.8 33.5 3.4 3.1 2.9
(-3.1) (2.7) (0.7) (-7.0) (6.6) (17.1) (12.8) (29.1) (2.7) (1.5)
Hydro (TWh) 6.2 7.1 5.8 0.6 1.1 0.9 5.3 0.7 0.6 0.6
(-14.1) (14.4) (21.1) (8.0) (78.8) (55.6) (-8.2) (16.3) (-43.6) (-34.7)
Nuclear (TWh) 145.9 160.2 117.6 13.7 12.5 9.3 114.5 12.3 12.8 12.2
(9.3) (9.8) (3.1) (17.5) (2.7) (-10.0) (-2.7) (-10.3) (2.0) (31.0)
Others (Mtoe) 17.7 19.0 14.1 1.5 1.6 1.7 15.1 1.7 1.7 1.6
(3.3) (7.3) (5.5) (-1.7) (1.3) (17.8) (7.0) (17.3) (4.3) (-3.8)
TPES (Mtoe) 303.1 292.1 216.8 23.7 24.5 23.1 225.6 25.9 25.5 24.2
(-1.5) (-3.6) (-3.9) (-6.4) (-6.3) (0.1) (4.1) (9.2) (4.1) (4.5)
- Non-energy oil excluded 244.0 236.1 174.0 19.0 19.8 18.5 179.2 20.5 20.0 18.6
(-1.3) (-3.2) (-4.1) (-5.4) (-6.0) (2.4) (3.0) (8.2) (1.1) (0.7)
- Non-energy oil&coal
excluded 219.6 212.5 156.6 16.9 17.7 16.5 160.7 18.4 17.9 16.6
(-1.5) (-3.2) (-4.1) (-5.8) (-6.5) (2.8) (2.6) (8.7) (0.9) (0.3)
Note: p means provisional, ( ) is year-on-year growth rates (%) Source: Monthly energy statistics
Share of TPES by Sources
(unit: %)
2019 2020p 2021p
M1~9 M7 M8 M9 M1~9 M7 M8 M9
Coal 27.1 24.7 25.3 28.0 28.6 28.4 24.1 27.0 27.7 25.0
- Coking coal excluded 19.1 16.7 17.3 19.5 20.2 19.8 15.9 18.9 19.5 16.4
Oil 38.7 37.7 38.2 38.4 36.8 38.9 38.5 38.4 38.5 41.5
- non-energy oil excluded 19.2 18.6 18.4 18.4 17.6 19.0 18.0 17.7 17.0 18.6
LNG 17.7 18.8 17.9 14.5 16.1 16.1 19.4 17.2 15.8 15.6
Hydro 0.4 0.5 0.6 0.6 0.9 0.8 0.5 0.6 0.5 0.5
Nuclear 10.3 11.7 11.6 12.3 10.9 8.6 10.8 10.1 10.7 10.7
Others 5.8 6.5 6.5 6.2 6.7 7.2 6.7 6.7 6.8 6.6
TPES 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Note: p means provisional Source: Monthly energy statistics
Total Final Consumption (TFC)
(Unit: Mtoe)
2019 2020p 2021p
M1~9 M7 M8 M9 M1~9 M7 M8 M9
Industry 142.9 138.1 103.7 11.5 11.5 11.6 110.0 12.7 12.6 12.5
(-0.4) (-3.3) (-2.7) (-6.3) (-5.6) (-0.6) (6.1) (9.9) (9.8) (8.4)
Transport 43.0 39.4 29.3 3.4 3.3 3.3 29.5 3.4 3.3 3.3
(0.0) (-8.3) (-8.4) (-4.4) (-18.9) (12.2) (0.8) (1.2) (-0.2) (2.4)
Residential 22.6 23.2 16.4 1.0 1.1 1.2 16.9 1.0 1.2 1.1
(-3.6) (2.6) (0.3) (4.5) (-3.0) (8.7) (3.1) (3.7) (11.3) (-6.5)
commercial 17.5 16.1 12.1 1.3 1.3 1.3 13.3 1.4 1.5 1.3
(-2.3) (-8.1) (-8.2) (-7.1) (-10.2) (-5.6) (10.3) (15.4) (12.8) (7.1)
Public 5.4 5.7 4.3 0.5 0.5 0.5 3.9 0.4 0.4 0.4
(-3.2) (6.7) (5.7) (7.9) (3.8) (13.8) (-8.0) (-6.5) (-7.2) (-13.8)
TFC 231.4 222.6 165.7 17.6 17.7 17.8 173.7 19.0 19.1 18.8
(-0.9) (-3.8) (-3.7) (-5.1) (-8.4) (2.1) (4.8) (7.9) (7.8) (5.6)
