The government has decided to freeze electricity rates for the first quarter of next year in light of high inflation.  

The government and the state-run Korea Electric Power Corporation(KEPCO) announced on Monday that the adjusted fuel unit cost has been set at zero won per kilowatt-hour for January to March next year, the same rate as the fourth quarter this year.

The Ministry of Trade, Industry and Energy said that despite the need to adjust rates due to surging international fuel prices, the government decided not to raise them in light of the need to stabilize people's livelihood amid the prolonged COVID-19 pandemic and rising inflation.

The government has been enforcing a power rate system linked to the fluctuation of fuel prices. Under the new system, the electricity rate should be raised by three won per kilowatt-hour to reflect the rising prices of liquefied petroleum gas, soft coal and oil used to produce electricity. 
   
However, the government apparently decided to maintain the current rate in light of growing financial burdens.