Electrical meters of a constructing in Seoul, Dec. 18 / Yonhap
The state-run Korea Electrical Energy Corp. (KEPCO) mentioned Monday it’s going to freeze electrical energy charges for the primary quarter of subsequent 12 months regardless of latest declines in world power costs as a part of efforts to enhance its monetary stability.
KEPCO mentioned it’s going to maintain the adjusted unit gasoline value, a key a part of the nation’s electrical energy charges, unchanged on the most stage of 5 received per kilowatt-hour (kWh) for the January-March interval.
The corporate has maintained the adjusted unit gasoline value at 5 received for the reason that third quarter of 2022.
The gasoline value adjustment unit value is set earlier than every quarter inside a spread of plus or minus 5 received per kWh based mostly on power costs, reminiscent of coal and liquefied pure fuel (LNG), within the previous three months.
Contemplating the latest fall in gasoline costs, KEPCO initially needed to decrease the price to -13 received per kWh.
“We have been notified by the federal government to take care of the present price of 5 received per kWh within the first quarter contemplating KEPCO’s monetary scenario and the numerous quantity of unadjusted gasoline value costs up to now,” the corporate defined, noting it has additionally been requested to proceed its efforts to normalize its administration.
KEPCO’s monetary troubles began when it continued offering electrical energy at costs beneath manufacturing prices, whilst world power costs surged between 2021 and 2023 as a result of Russia-Ukraine warfare.
As of end-June, the corporate’s accrued debt stood at 206.2 trillion received ($139.2 billion).
