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., has announced that it will maintain electricity rates unchanged for the fourth quarter, despite facing higher raw material prices and financial difficulties. The adjusted fuel cost, a significant factor in determining electricity rates, will remain at the maximum level of 5 won per kilowatt-hour for the October-December period.
This decision comes as KEPCO has kept the adjusted fuel cost at 5 won per kWh for 18 consecutive quarters since the third quarter of 2022. While this move is expected to further strain the company's finances, it is a response to the ongoing financial challenges that have been exacerbated by global energy price surges since 2021, following Russia's invasion of Ukraine.
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.
This story
This is one outlet's version. Read the fullest account.
