"47% of Energy Cashback Applicants Succeed"…Electricity Bills Reduced by 10,500 Won Compared to Last Year

680,000 Households Participate in Energy Cashback
320,000 Households Reduce Usage by 22.4 GWh

More than 47% of participating households succeeded in reducing electricity usage in the first month of implementation last month after the incentives for the 'Energy Cashback' program, which rewards cashback for reducing electricity consumption compared to the previous year, were expanded.

On the 22nd, the Ministry of Trade, Industry and Energy announced that during July, about 680,000 participating households, or 47.1% (320,000 households), succeeded in reducing consumption by 22.4 GWh.

Both the success rate and reduction rate increased compared to the second half of last year. The success rate rose from 37.7% in the second half of last year to 47.1% in July this year, and the reduction rate increased from 18% to 20.2% during the same period.

The average electricity usage of successful cashback households was 276 kWh, which is 70 kWh less than the past average of 346 kWh for the same period. According to the Ministry, based on 346 kWh this year, the electricity bill is 59,470 KRW, but successful households pay 37,760 KRW after a reduction of 21,710 KRW (5,320 KRW cashback + 16,390 KRW savings from reduced usage). This amount is 10,500 KRW less than the 48,260 KRW bill in July last year before the rate increase.

The Ministry analyzed that despite the rate increase, public participation in government energy-saving measures such as the Energy Cashback program is increasing, resulting in a mitigation effect on cooling costs.

Meanwhile, to commemorate 'Energy Day' today, about 1.27 million citizens are expected to participate in energy-saving activities such as 'raising air conditioner set temperature by 2℃ from 2 to 3 p.m.' and 'turning off lights for 5 minutes from 9 p.m.'

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