Seoul: The government will implement precautionary measures to maintain stable electricity rates amidst the recent volatility in international energy prices, following the Middle East crisis, as announced by the climate ministry.

According to Yonhap News Agency, Climate Minister Kim Sung-hwan outlined this strategy during a meeting with state-run utility firms, including the Korea Electric Power Corp. and the Korea Gas Corp. The discussion centered on responses to the rising energy prices. Kim noted that, while the country has thus far experienced a limited impact on electricity rates from the recent increases in international oil and natural gas prices, future cost pressures are likely if supply chains face further disruptions.

The government plans to reactivate nuclear power plants currently undergoing maintenance and restart coal-fired power plants that were temporarily shut down for seasonal fine dust management. These measures aim to manage potential cost increases and ensure the stability of electricity supply.

Additionally, the ministry emphasized its commitment to fostering the growth of the renewable energy market, which is less susceptible to fluctuations in global energy prices. This approach is considered the fundamental solution for reducing volatility in South Korea's energy system.