The chief of the state-run Korea Electrical Energy Corp. (KEPCO) on Monday emphasised the significance of elevating electrical energy payments to take care of funding in important infrastructure and make sure the sustainability of the sector’s ecosystem.
“We have to bolster the facility grid on time to help the modern progress of the nation’s key industries, together with synthetic intelligence and semiconductors,” stated Kim Dong-cheol, president of KEPCO, throughout a parliamentary audit in Naju, some 280 kilometers south of Seoul.
“We are going to search to normalize the electrical energy charges to safe the funds wanted to put money into important energy grids and keep the sustainability of the electrical energy ecosystem,” Kim added.
His remarks got here as KEPCO posted a mixed lack of 43 trillion received ($31.7 billion) from 2021 to 2023, as the corporate had not been capable of elevate electrical energy payments sufficient to cowl excessive gas prices amid the COVID-19 pandemic and rising inflation.
The corporate’s debt additionally totaled 202.9 trillion received as of June, up 440 billion received from the tip of 2023.
“We have to fairly mirror manufacturing prices within the payments to advertise the expansion of modern corporations within the power business,” Kim stated.
The KEPCO president additionally talked about that the corporate will proceed to hold out self-rescue measures, which goal to avoid wasting 20.9 trillion received from 2022 to 2026.
In August, Business Minister Ahn Duk-geun famous the federal government would enhance electrical energy costs after the summer season ends. (Yonhap)