S. Korea to sharply hike Q1 electricity rates
Trade, Industry and Energy Minister Lee Chang-yang holds a press conference at the government complex in Seoul on Dec. 30, 2022, to announce South Korea will raise first-quarter electricity rates by the largest-ever margin on high global energy costs and mounting losses of the state utility company. The government decided to jack up the electricity rates for consumer and industrial use by 13.1 won (US$0.01) per kilowatt hour for the January-March period next year, compared with a 2.5 won hike per kWh in the fourth quarter of this year. (Yonhap)
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