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KEPCO Board Decides to Delay Proposed Power Rate Scheme

Written: 2019-06-21 16:56:41Updated: 2019-06-21 18:05:36

KEPCO Board Decides to Delay Proposed Power Rate Scheme

Photo : YONHAP News

The board of directors at the Korea Electric Power Corporation(KEPCO) has postponed a decision on a government-proposed plan to temporarily revise the progressive power billing system.

KEPCO convened a board meeting Friday and held deliberations on the plan proposed by a joint government and civilian task force.

However, a KEPCO official said the proposal has been deferred as many board members hold the opinion that more discussions are necessary.

Earlier this week, the task force team, charged with proposing revisions to the current three-stage progressive electricity rate scheme, presented its final recommendation to tentatively expand the progressive stage for the hotter summer months to make electricity prices more affordable.

The proposal selected was one of three options considered in revising the billing system.

Some critics say the proposed plan will adversely affect deficit-burdened KEPCO, though the government may provide financial assistance to offset the costs associated with the proposed rate scheme.

The power company said another board meeting will be scheduled in the near future to continue discussions, and that it's not impossible to implement the plan from July. 

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