"Top 30 Power Consumers Use More Electricity Than Households and Pay 592.5 Billion Won Less"

"Excessive Industrial Electricity Rate Disparities by Load Compared to Major Countries Including the US and Japan"

[Asia Economy Reporter Moon Chaeseok] It has been revealed that the top 30 companies that purchased the most electricity last year used 2.4GW more electricity than all households in South Korea combined, while paying 592.5 billion KRW less in fees.

According to data submitted by Korea Electric Power Corporation (KEPCO) to Shin Jeong-hoon, a member of the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee from the Democratic Party of Korea, the 30 large corporations with high electricity consumption used a total of 75GW last year and paid KEPCO 7.0312 trillion KRW.

During the same period, household electricity sales totaled 72.6GW, and KEPCO collected 7.6237 trillion KRW in household electricity fees.

Source=Korea Electric Power Corporation·Office of Shin Jeong-hoon, Democratic Party of Korea

According to Representative Shin, KEPCO sets differential rates based on load time, so the average electricity price related to large corporations is relatively low.

KEPCO applies a differential rate of 3.4 times (based on summer) between off-peak and peak load charges when companies use high-voltage electricity.

Representative Shin pointed out that since the differential rates for high-voltage B and C tariff plans mainly used by large corporations are also high at 3.38 times and 3.44 times respectively, prices are low, and with additional off-peak time discounts, they consume electricity at cheaper rates than general households or small and medium enterprises.

He stated, "South Korea's differential rate by load is 3.4 times, which is higher than Japan's 1.5 to 1.6 times and the United States' 1.4 to 1.8 times during summer peak load," and argued, "The industrial off-peak electricity tariff system should be reformed so that benefits can be extended to small and medium enterprises, small business owners, and households."

Source=Korea Electric Power Corporation·Office of Shin Jeong-hoon, Democratic Party of Korea

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