Electricity charges to rise 4% on average

Electricity charges for both household and industrial use will increase by an average of 4 percent beginning Nov. 15, the Ministry of Industry, Commerce and Energy said Sunday.

The electricity charge hike was confirmed through a policy consultation between the ministry and the ruling Millennium Democratic Party. The rate was lowered from the original plan in order to help stabilize general prices, a ministry official said.

However, charges for households which use less than 300 kw a month will not rise, and the rate for extra charges will go up only for homes or businesses that use more than 300 kw a month.

The ministry official said the increase rate would be applied to all electricity charges, including those for household, industrial and agricultural use.

The government consulted with the ruling party on a plan to increase power charges for households or industries using 300kw or more monthly by 7 to 20 percent.

Lee Myung-Jai mjlee@donga.com