Electricity rates freeze in the first quarter of next year...Fuel cost adjustment unit price '+5 won' maintained

Electricity rates will be frozen at current levels in the first quarter of next year.

KEPCO said it will maintain the fuel cost adjustment unit price at 5 won per kilowatt hour (kWh) that will be applied in the first quarter of next year.

Electricity rates consist of basic rates, electricity rates, climate and environmental rates, and fuel cost adjustments, which are calculated to reflect changes in fuel costs over the previous three months.

Reflecting the fuel cost price trend over the past three months, KEPCO should set the fuel cost adjustment unit price at -5 won per kilowatt hour in the first quarter of next year.

However, the Ministry of Trade, Industry and Energy informed KEPCO to maintain the fuel cost adjustment unit price at +5 won in the first quarter of next year, considering that its financial situation is still serious and the amount of electricity bill has not been adjusted.