Climate ministry to revise industrial electricity bills

The Ministry of Climate, Energy and Environment plans to revise the industrial electricity pricing structure in an effort to alleviate cost burdens on businesses and promote balanced regional development. This overhaul aims to reflect regional differences in electricity demand and lower electricity costs for energy-intensive industries, including steel and petrochemicals, which are often located outside the Seoul metropolitan area.

The government will divide the country into four major regions, each with further subdivisions based on government-designated population decline zones, and lower industrial electricity rates to improve corporate cost competitiveness. A public hearing on the new pricing system will be held later this week before the final plan is implemented.

Brief written by urgent.news from Yonhap News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.