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Electricity rate remains frozen for Q2

Published: 23 Mar. 2026, 10:36 Updated: 23 Mar. 2026, 14:23

Korea Electric Power Corporation's headquarters in Naju, South Jeolla, is seen in this undated file photo. [YONHAP]

The state-run Korea Electric Power Corp. (Kepco) said Monday it will freeze electricity rates for the second quarter.

The adjusted unit fuel cost, a key part of the country's electricity rates, will remain at the maximum level of 5 won ($0.003) per kilowatt-hour (kWh) for the April-June period, Kepco said.

The company has maintained the adjusted unit fuel cost at 5 won since the third quarter of 2022.

The fuel cost adjustment unit price is determined before each quarter within a range of plus or minus 5 won per kWh based on energy prices, such as coal and liquefied natural gas, over the previous three months.

"We were notified by the government to maintain the current rate of 5 won per kWh in the second quarter, considering Kepco's financial situation and the significant amount of unadjusted fuel cost charges in the past," the company said, noting it has also been asked to continue its efforts to normalize its management.

In 2025, Kepco's net income soared more than 141 percent from a year earlier to 8.73 trillion won amid its continued efforts to improve its financial stability.

Kepco's financial difficulties began when it continued supplying electricity at prices below production costs, even as global energy prices surged between 2021 and 2023 amid the Russia-Ukraine war.

Yonhap