Electricity bills to be delivered to South Korean households from January will reflect changes in the cost of fuels used in producing electricity. 

The Ministry of Trade, Industry and Energy and Korea Electric Power Corporation on Thursday announced a new electricity pricing scheme that will take effect next year. 

Under the plan, the current fixed-rate fees will be replaced by fees that reflect changes in prices of oil, coal and liquefied natural gas every three months. 

In order to prevent significant fluctuations in billing, however, the government will allow fee changes within a certain scope and even suspend fee adjustments in case of exceptionally high fluctuations in fuel prices. 

The ministry expects the new fee system will improve the predictability of electricity fees and encourage more reasonable consumption of electricity. 

The new electricity billing system will also inform consumers of how much power plant operators are spending to mitigate environmental degradation so the public will better understand the government’s pivot toward more eco-friendly energy sources.