Signal Korea's biennial Basic Plan sets a 15-year electricity demand outlook through multi-stage review

Summary

Korea's government prepares a Basic Plan for Electricity Supply and Demand every two years under Article 25 of the Electricity Business Act. Each plan covers a 15-year horizon spanning supply direction, long-term demand outlook, generation and grid build-out, demand management and distributed resources. The long-range demand outlook then becomes the reference for power plant construction and retirement, transmission investment, the energy mix and storage requirements. Because so much depends on it, the outlook passes through expert committees, a strategic environmental assessment, inter-ministerial consultation, public hearings and a report to the National Assembly. The report therefore treats demand forecasting as the starting point of national energy strategy rather than as a routine statistical exercise.