The first country to face the heat wave to reduce electricity prices for citizens

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In an effort to ease the burden on households that are increasingly using air conditioners in a harsh heatwave hitting the world, the South Korean government issued a decision to cut electricity prices for housing by $ 245 million in July and August.
The measure is expected to reduce 19.5 percent of the electricity charges owed to the Korean electric power company (KIPCO) by the families, said Pike En Gio, minister of commerce, industry and energy.

The government took the decision to cut, while the summer heat provoked public discontent with Kipco’s billing system and held households accountable for higher electricity prices as they were used.

The South Korean minister said the government would also consider making long-term changes, Reuters reported.

“This is a temporary measure in the face of a catastrophic heat wave,” he said in a brief press briefing. We will be discussing with the parliament to find procedures to reform the system of electricity bills. ”

The current system restricts electricity users to housing in three categories and computes them according to their electricity consumption.

Paek said the government would consider sharing the cost of temporary electricity price reductions with KIPCO, in order to ease the cost burden on the company, which supplies all South Korean households with electricity.

South Korea’s electricity supplies are enough to meet demand, the country said, and the country uses coal and nuclear power to generate about 70 percent of its electricity.

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