The Ministry of Climate, Energy and Environment predicts that peak electricity demand this winter will range from 88-point-eight to 94-point-five gigawatts.

The ministry held a meeting on the issue at the state-run Korea Electric Power Corporation’s office in Seoul on Friday, with private power producers such as POSCO International, GS EPS, and SK Innovation E&S also attending for the first time.

The ministry said it expected power consumption to peak in the third week of January, which is typically the coldest time of the year, based on historical data, models and calculations for grid management.

The high end of the range represents the highest-ever winter power demand recorded on December 23, 2022.

In line with its projection, and in preparation for cold snaps and heavy snow, the ministry will maintain a weekly power supply capacity of over 100 gigawatts this winter, along with a reserve capacity of 17 gigawatts.

However, some believe the government's outlook for electricity demand is excessive.

Power authorities predicted last winter that demand would peak between 92 and 97 gigawatts, but it actually peaked at just 90-point-seven gigawatts in the second week of January.

Earlier, the Korea Meteorological Administration said there was a 50 percent probability that temperatures would be average in December and January of next year, raising expectations of an unusually mild winter.