From April Next Year, Residential City Gas Prices Will Rise... Consumers' Average Monthly Burden Increases by 4,600 Won

Gas Gong, Adjustment of Dispersion in Raw Material Cost Settlement Unit Price for Civil Use

[Sejong=Asia Economy Reporter Joo Sang-don] From April next year, residential city gas prices will gradually increase. With this city gas price adjustment, the average monthly burden on consumers is expected to increase by a total of 4,600 KRW by October.

Korea Gas Corporation announced on the 27th that it has resolved the 2022 residential raw material cost settlement unit price adjustment plan in accordance with the raw material cost linkage system implementation guidelines.

With this adjustment, the Gas Corporation plans to gradually adjust the 2022 residential raw material cost settlement unit price applied from May 2022 to April 2023 by 2.3 KRW/MJ in three phases.

A Gas Corporation official explained, "The current raw material cost linkage system implementation guidelines stipulate that the accumulated raw material cost loss (uncollected amount) at the end of 2021 should be recovered through the raw material cost settlement unit price over one year starting from May 2022. However, the Gas Corporation decided to reflect the adjustment factors for the settlement unit price throughout the year to prevent concentrated price increases in specific quarters and to avoid a sudden increase in the national burden, in accordance with government policy."

Due to this city gas price adjustment, based on an average monthly usage of 2,000 MJ, the Gas Corporation expects the average monthly burden on consumers to increase by 2,460 KRW in May next year, 1,340 KRW in July, and 800 KRW in October, totaling 4,600 KRW.

This content was produced with the assistance of AI translation services.