Electricity and gas prices will rise in stages after the presidential election next year. 

The nation's state power company Korea Electric Power Corporation (KEPCO) said on Monday that it will raise base fuel costs by nine-point-eight won per kilowatt-hour next year.

KEPCO plans to raise the price in two stages - raising by four-point-nine won in April and again in October. It also plans to raise environmental costs by two won per kilowatt-hour from April. 

KEPCO said the move will lead to a hike of five-point-six percent in electricity prices next year. With the hike, a four-person household using 304 kilowatt-hour a month will see a rise of one-thousand-950 won in its bills. 

Gas prices will also rise in stages next year. The Korea Gas Corporation said Monday that gas fees will rise by one-point-23 won per megajoule(MJ) in May, another one-point-nine won in July and two-point-three won in October.

A household using an average of two-thousand megajoules a month would see their gas charges go up by four-thousand-600 won from October.