KEPCO to keep electricity rates frozen for Q4 despite higher costs
State-run Korea Electric Power Corp. (KEPCO) said Monday it will keep electricity rates unchanged in the fourth quarter despite higher raw material prices and its financial difficulties. The adjusted fuel cost, a key component of electricity rates, will remain at the maximum level of 5 won per kilowatt-hour (kWh) for the October-December period, KEPCO said. KEPCO has kept the adjusted fuel cost…
KEPCO, the state-run Korea Electric Power Corp., announced on Monday that it will maintain electricity rates unchanged for the fourth quarter, despite higher raw material prices and financial difficulties. The adjusted fuel cost, which makes up a significant portion of electricity rates, will remain at a maximum level of 5 won per kilowatt-hour (kWh) for the October-December period.
This decision to freeze rates, which was expected to further strain the company's finances, comes after KEPCO had to supply electricity at prices below production costs due to global energy price surges following Russia's invasion of Ukraine between 2021 and 2023.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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