President Lee: "Household Electricity Rates Should Be Adjusted If Inflation Permits"

President Lee Jae-myung stated, "Currently, household electricity rates remain the same regardless of the time of day, which is not appropriate," adding that "it needs to be fixed."

Presiding over the National Fiscal Strategy Meeting at the Blue House, President Lee said, "We should change the electricity pricing system so that it is cheaper when there is a surplus of power and more expensive during peak hours when power is in short supply."

President Lee also suggested that restructuring the electricity rate system in this way could help resolve the inefficiency issues of heat pumps, which are gaining attention as eco-friendly clean energy technology.

However, President Lee added a caveat, noting, "To be objective, it is difficult to discuss (electricity rate reform) right now due to inflation management."

Nevertheless, upon hearing that household electricity rates are more expensive than industrial rates, he remarked, "If there were no concerns about inflation or the income levels of the public, it would be a situation where household electricity rates should be adjusted."

He continued, "The burden on low-income households could be an issue, but there could be ways to provide support, such as through a voucher system," adding, "I think we need to have a policy discussion on this."

(Photo: Yonhap News)
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