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The federal government and the ruling Individuals Energy Occasion will maintain a consultative assembly this week to resolve on a hike in electrical energy and fuel charges for the second quarter, officers mentioned Sunday.
The assembly might be held Monday to resolve on the extent of a rise in electrical energy charges, which has been postponed for greater than a month, in keeping with officers from the ruling occasion.
The federal government and the ruling occasion “tentatively” determined to lift the electrical energy charges by 8 received ($0.01) per kilowatt hour, increased than the anticipated 7 received enhance, a Individuals Energy Occasion official instructed Yonhap Information Company.
The assembly comes because the state-run Korea Electrical Energy Corp. introduced self-rescue measures price 25.7 trillion received final week, together with asset gross sales and a freeze in wages, in a bid to enhance its monetary soundness amid snowballing losses attributable to hovering vitality prices.
The federal government raised electrical energy charges for the primary quarter by 13.1 received per kilowatt hour, the sharpest hike in about 4 many years, in a transfer to assist KEPCO slim its losses.
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(Yonhap) |
However late in March, the federal government and the Individuals Energy Occasion determined to place off the deliberate announcement of the electrical energy charges for the second quarter, citing the necessity for extra time to evaluation “associated circumstances.”
Final yr, the federal government was not in a position to increase the vitality charges sufficient to cowl hovering prices amid excessive inflation, and rising public burdens over the COVID-19 pandemic and an financial slowdown.
KEPCO logged a report working lack of 32.63 trillion received in 2022, greater than quadruple from a yr earlier. Its first-quarter internet losses narrowed from a yr earlier because of the authorities’s electrical energy charge hikes and milder will increase in international vitality costs.
The federal government and the Individuals Energy Occasion are additionally prone to resolve Monday to lift the fuel charges for the second quarter, with a hike of 1-2 received per megajoule extremely anticipated.
The fuel charges have been frozen within the first quarter amid public outcry over spikes in heating and vitality payments final winter.
Final yr, the federal government jacked up the fuel charge for households greater than 40 % on-year, or 5.47 received per megajoule.
The Korea Gasoline Corp. mentioned final week it is going to freeze the wages of senior officers and search cost-cutting measures price 15.4 trillion received over the subsequent 5 years to enhance its monetary well being. KOGAS had round 11.6 trillion received in uncollected funds as of the top of March. (Yonhap)
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