Energy Cashback Participants Surpass 200,000 Households... "Electricity Bills Lower Than Last Year If Reduced by Over 10%"

Average 18,000 Households Join Daily
Reducing Electricity Usage by 10% in 4-Person Households Saves 1,000 Won on Electric Bills

Korea Electric Power Corporation's (KEPCO) 'Energy Cashback' program, which reduces electricity bills in proportion to reduced electricity usage, has surpassed 200,000 households in applications.

On the 19th, KEPCO announced that as of the 18th, 216,921 households had signed up for the residential Energy Cashback program.

A KEPCO official stated, "Due to the forecast of hot and humid weather this summer and concerns over increased cooling costs following last month's electricity rate hike, interest in energy saving has increased. It appears that raising the cashback rate from 30 won to up to 100 won per kWh starting in the second half of the year has led to high participation."

The Energy Cashback program, piloted since 2022, had a cumulative participation of 52,490 households through the first half of this year. However, after online applications began on the 7th for the second half of 2023, new participants exceeded 200,000 households within just 11 days.

If households enrolled in Energy Cashback reduce their electricity usage by more than 10%, their electricity bills will actually be lower than last year. For example, a family of four with an average electricity usage of 427 kWh during last summer (July-August) who reduces usage by 10% will save a total of 15,080 won on their bill, including a 11,180 won reduction from decreased electricity consumption and a 3,900 won cashback, resulting in a final bill of 65,450 won. This is about 1,000 won less than last year's monthly electricity bill of 66,690 won.

A KEPCO official added, "Customers who apply by August 31 can receive cashback retroactively from the July bill. In June, applications can only be made online, but in July, customers can visit nearby KEPCO offices to apply."

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