Korean Job Discussion Forums

[Ya-ta Boy]

From today's JoongAng Ilbo:

Electricity price hike starts Jan. 15


December 30, 2006 ㅡ Korea will increase electricity prices by an average of 2.1 percent on Jan. 15 because of higher fuel costs and power taxes, the energy ministry said.
The rise reflects a 2.5-percent jump in fuel costs at Korea Electric Power Corp. in the first 10 months of this year and a 0.5-percent increase in taxes, the Ministry of Commerce, Industry and Energy said yesterday in an e-mailed statement.
State-run Korea Electric, which supplies most of the country's power, needs government approval to raise rates. The company's net income in the first nine months dropped 19 percent because of higher fuel costs.
The government will increase power prices for industrial use by an average of 4.2 percent and freeze those for household use, the statement said. The extra taxes are to help develop regional energy sources, such as nuclear power plants, according to the statement.
The government will also lift prices for briquette, an alternative fuel mostly used by lower-income households, by 12 percent in April, avoiding an increase during the winter, the ministry said. Korea Gas Corp., the world's biggest buyer of liquefied natural gas, said yesterday that it will cut gas prices by an average of 4.1 percent from Jan. 1.


***
I thought this would be of interest for those concerned with heating costs this winter.