KEPCO to keep electricity rates frozen for Q4 despite higher costs

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SEOUL, Sept. 21 (Yonhap) -- State-run Korea Electric Power Corp. (KEPCO) said Monday it will keep electricity rates unchanged in the fourth quarter despite higher raw material prices and its financial difficulties.

The adjusted fuel cost, a key component of electricity rates, will remain at the maximum level of 5 won per kilowatt-hour (kWh) for the October-December period, KEPCO said.

KEPCO has kept the adjusted fuel cost at 5 won per kWh for 18 consecutive quarters since the third quarter of 2022.

The adjusted fuel cost is set before each quarter within a range of plus or minus 5 won per kWh, based on energy prices, including coal and liquefied natural gas (LNG), over the previous three months.

KEPCO said rates were due to rise by 7.3 won per kWh in the fourth quarter under the fuel cost adjustment formula. The decision to freeze rates is expected to further weigh on the company's finances.

The company's financial difficulties began after it continued to supply electricity at prices below production costs as global energy prices surged between 2021 and 2023 following Russia's invasion of Ukraine.

KEPCO and its power-generating subsidiaries had a combined debt of 210.7 trillion won (US$152.1 billion) as of the first half of this year.

This undated file photo provided by Korea Electric Power Corp. (KEPCO) shows its headquarters in Naju, South Jeolla Province. (PHOTO NOT FOR SALE) (Yonhap)

kyongae.choi@yna.co.kr (END)

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KEPCO to keep electricity rates frozen for Q4 despite higher costs

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首尔，9月21日（韩联社）——韩国国营电力公司（KEPCO）周一表示，尽管原材料价格上涨且面临财务困难，但该公司将在第四季度维持电价不变。

韩国电力公司表示，作为电价关键组成部分的调整后燃料成本，在10月至12月期间将维持在每千瓦时5韩元的最高水平。

自 2022 年第三季度以来，韩国电力公司已连续 18 个季度将调整后的燃料成本维持在每千瓦时 5 韩元。

调整后的燃料成本在每个季度开始前设定，范围为每千瓦时正负 5 韩元，根据过去三个月的能源价格（包括煤炭和液化天然气）确定。

韩国电力公司表示，根据燃料成本调整公式，第四季度电价应上涨7.3韩元/千瓦时。冻结电价的决定预计将进一步加剧公司财务压力。

在俄罗斯入侵乌克兰后，2021 年至 2023 年间全球能源价格飙升，而该公司却继续以低于生产成本的价格供应电力，由此引发了财务困境。

截至今年上半年，韩国电力公司及其发电子公司的总债务为 210.7 万亿韩元（1521 亿美元）。

这张由韩国电力公司（KEPCO）提供的未注明日期的资料照片显示了该公司位于全罗南道罗州市的总部大楼。（照片不得出售）（韩联社）

kyongae.choi@yna.co.kr (完)

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尽管成本上升，韩国电力公司仍将第四季度电价维持不变。