Household electricity rates to rise

With the rise in international crude oil prices, households making excessive use of electricity will face a 50% increase in rates and the use of neon signs might be limited.

Also, the current mandatory non-use of motor vehicles one day out of 10 implemented for governmental employees might be expanded to the general public as early as next month.

"Households using more than 300 kilowatt-hours of electricity per month will face a 50% rate increase starting on the 15th of next month," a source at the Ministry of Commerce, Industry and Energy said on September 14.

Currently, about 6.7% of households use more than 300 kwh of electricity.

The Ministry of Commerce, Industry and Energy also decided to increase in stages the electrical rates for industrial use. In addition, the seven-level electricity rate system will be simplified to five levels, and the subsidized rates that were offered below cost will be increased. The ministry also will consider putting a time limit on neon and other signs, banning them from being kept on after the limited time.

"During the meeting for the reduction of energy consumption led by the prime minister on the 15th, we will discuss the expansion of the policy for the mandatory non-use of vehicles 10 or even 5 days out of a week," Minister of Finance and Economy Jin Nyum said on September 14. "Although the mandatory non-use will go into effect, it will not be punishable by fine, but rather we hope to make it a self-imposed citizen movement.", he added.