Breaking News "Frozen" for residential electricity...Industrial average 9.7% ↑

Electricity rates used at industrial sites such as general factories will increase by an average of 9.7% from tomorrow (24th).

Electricity for housing, which was expected to increase, was frozen once more in consideration of the economic burden on the common people.

Korea Electric Power Corporation (KEPCO) announced today (23rd) that it has decided to reflect the accumulated cost increase factors, but comprehensively considering prices and the burden of the low-income economy.

KEPCO said industrial customers account for 1.7% of its total customers, or 53.2% of its total electricity use.

In particular, large-capacity customers who use 48.1% of the country's total electricity will increase by 10.2% and small and medium-sized companies will increase 5.2% in consideration of the difficulties caused by the economic downturn.

KEPCO has raised the rate six times since 2022, but the cumulative deficit in the first half alone reached 41 trillion won and debt reached 203 trillion won, adding to the financial burden.

In addition, he added that an increase in electricity rates was inevitable for expanding the power grid and maintaining power facilities needed for the foundation of high-tech industries such as semiconductors and artificial intelligence.