S. Korea to cut residential electricity bills for July-Aug.

SEOUL, Aug. 7 (Yonhap) -- South Korea will adjust the residential progressive electricity tariffs for July and August to ease the household burden from heavy electricity bills caused by the unprecedented summer heat, the energy ministry said Tuesday.

The Ministry of Trade, Industry and Energy said it will temporarily upgrade the ceilings of the first two stages of the progressive tariffs for residential power use, which would save about 276.1 billion won (US$245.2 million), or about 20 percent of the total, in energy costs for the peak summer season.

"I feel grave responsibility as a minister in charge of the energy policy as many people feel uncomfortable with using air conditioning due to concerns over heavy electricity bills," Minister Paik Un-gyu said in a press briefing. "(The government) will temporarily ease the progressive electricity rates and come up with ways to help underprivileged communities remain cool."

The state-run utility Korea Electric Power Corp. will retroactively apply the measure for the July bills, which are set to be delivered to households this week, the ministry said.

Source: Yonhap News Agency

S. Korea to cut residential electricity bills for July-Aug.

SEOUL, Aug. 7 (Yonhap) -- South Korea will adjust the residential progressive electricity tariffs for July and August to ease the household burden from heavy electricity bills caused by the unprecedented summer heat, the energy ministry said Tuesday.

The Ministry of Trade, Industry and Energy said it will temporarily upgrade the ceilings of the first two stages of the progressive tariffs for residential power use, which would save about 276.1 billion won (US$245.2 million), or about 20 percent of the total, in energy costs for the peak summer season.

"I feel grave responsibility as a minister in charge of the energy policy as many people feel uncomfortable with using air conditioning due to concerns over heavy electricity bills," Minister Paik Un-gyu said in a press briefing. "(The government) will temporarily ease the progressive electricity rates and come up with ways to help underprivileged communities remain cool."

The state-run utility Korea Electric Power Corp. will retroactively apply the measure for the July bills, which are set to be delivered to households this week, the ministry said.

Source: Yonhap News Agency

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