Deputy Prime Minister and Minister of Strategy and Finance Choo Kyung-ho criticized KEPCO's proposal to raise electricity rates to the government as 'not enough'.



He said that the decision to raise the electricity rate was delayed because it needed more time to check KEPCO's self-rescue efforts, but it would not take long.



Deputy Prime Minister Chu visited the press room of the Ministry of Finance at the Government Complex Sejong today (20th) and said this.



Regarding the postponement of the decision on whether to raise the electricity rate, Deputy Prime Minister Chu said, "KEPCO should have proposed a plan that was acceptable to the public from the beginning, but it was insufficient in that area." We need a little more time to do it,” he said.



As for fuel cost adjustment, the maximum increase is ±3 won per kWh (kilowatt hour) compared to the previous quarter, but KEPCO recently requested a 3 won increase, the maximum.



We also requested to expand the upper and lower limits of the fuel cost adjustment unit price, which is limited to 3 won per quarter and 5 won per year.



Deputy Prime Minister Choo's remarks today are interpreted to mean that KEPCO must make sufficient self-rescue efforts before demanding an electricity rate increase.



The goal is to further reduce the increase in electricity rates through self-rescue efforts such as improving management efficiency, reducing fuel costs, selling equity shares, and selling real estate.



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To the question of whether the electricity rate hike is being suppressed too much because of inflation, Deputy Prime Minister Chu replied, "The rate is directly related to the burden of the public."



When it was pointed out that KEPCO's corporate bond issuance limit was full, he asked, "Why did KEPCO become that way. Wasn't it when KEPCO was profitable?" and "KEPCO needs self-reflection as to why KEPCO has become this way over the past five years." said.



He said, "If we have to inform the public about this in detail and raise the rate, it is natural for a public corporation to make an effort to obtain a corresponding understanding."



Deputy Prime Minister Chu said, "We are trying to make a final decision on the government's position on electricity rates as soon as possible," adding that "it will not take long."



The Ministry of Trade, Industry and Energy notified KEPCO today that it will postpone the fuel cost adjustment unit price decision.



Today, the government decides whether or not to increase the fuel cost adjustment unit price for the third quarter and notifies KEPCO, and KEPCO announces the plan tomorrow, a day later.



An official from the Ministry of Trade, Industry and Energy said, "I'm not going to skip this week."



(Photo = Yonhap News)