Asia Pacific: Consumption
Gas could be set to receive further political support in Northeast Asia following the results of South Korea’s election.
Air pollution was a key issue during South Korea’s presidential election. Moon has stated his support for reducing the country’s coal-fired generation, closing nuclear in the long term and raising the share of gas in the energy mix. His energy policies and strategy will need further detail, and the timing of potential plant closures will have to be balanced with South Korea’s power needs. However, gas-fired generation could see immediate benefits. Moon has called for the temporary closure of eight of the country’s oldest coal-fired power stations during June to tackle pollution during the month. Although electricity demand in June is typically low as the peak of summer heat does not typically hit until July, there are prospects for support for gas-fired power generation because of the forecast for above-average temperatures to dominate during June. At present, expectations are for the eight coal-fired power stations to restart in July to support power output during the peak summer months.