TEHRAN - Iran needs about $1.0 billion of investment in the power plant sector to overcome electricity supply and demand imbalance in the country, according to the chairman of the board of directors of the Iranian Power Plants Trade Union.

Ali Nikbakht said in a press conference in Tehran on Saturday that the country is expected to face a 26,000-megawatt power shortage next summer if no measure is taken with regard to the Iranian electricity network.

Mentioning the current energy imbalance in the country, Nikhbakht said “With the addition of new units to existing power plants and the development of renewable power plants, which has become customary in the whole world, the conditions can be changed.”

“Iran has a high potential in the field of renewables and by developing this sector the problems can be solved to a large extent,” he added.

Peak electricity consumption in Iran reached nearly 80,000 megawatts this summer as new heat waves hit the country.

To meet the electricity demand in the peak summer period, the Iranian Energy Ministry implemented several programs among which increasing electricity production and managing consumption were the major ones.

The ministry implemented a comprehensive program during the summer, based on which low-consuming households were rewarded while the subscribers whose consumption exceeded the normal level faced a penalty.

Over the past decade, constant temperature rises and the significant decrease in rainfall across Iran have put the country in a difficult situation regarding electricity supply during peak consumption periods.

Iran's Power Generation, Distribution, and Transmission Company (known as Tavanir) has repeatedly announced that it is implementing various programs to manage the situation and prevent blackouts in the country.

EF/MA