The government has delayed the decision on the adjustment of the fuel unit rate in electricity fees for the third quarter.

The Ministry of Trade, Industry and Energy, which was previously expected to consult with the finance ministry on the unit cost hike on Monday, instead notified the state-run Korea Electric Power Corporation(KEPCO) about the postponement.

A ministry official said it is analyzing how well KEPCO can moderate factors that would contribute to a fee hike through an independent effort, adding that if there needs to be an increase, the government will decide on its scope within the week.

Electricity fees consist of a basic fare, energy charge, climate environment fee, and adjusted fuel cost, the last of which is adjusted every quarter.

Last week, KEPCO submitted a request to the energy and finance ministries asking to raise the electricity fee by 33 won per kilowatt hour(kWh) for the third quarter to avoid a deficit. The proposed hike is over ten times the adjustment limit of three won per kilowatt hour on-quarter.

KEPCO posted a record-high deficit of seven-point-eight trillion won in the first quarter, with the annual deficit forecast to reach 30 trillion won.