Korea Electric Power Corporation Announces Q2 Electricity Rates Remain Unchanged

Korea Electric Power Corporation (KEPCO) announced on Monday that electricity prices will remain unchanged in the second quarter.

KEPCO stated that the adjusted unit fuel cost, a key component of Korea’s electricity prices, will stay at a maximum of 5 won per kilowatt-hour from April to June.

The company has maintained the adjusted unit fuel cost at 5 won per kilowatt-hour since the third quarter of 2022.

The unit price after fuel cost adjustments is determined before each quarter begins based on energy prices (such as coal and liquefied natural gas) over the past three months, with a fluctuation range of plus or minus 5 won per kilowatt-hour.

The company said, “Given KEPCO’s financial situation and the significant expenses incurred from unadjusted fuel costs in the past, the government has notified us to keep the current price at 5 won per kilowatt-hour for the second quarter.” It also noted that the government has asked it to continue efforts to normalize management.

In 2025, KEPCO’s net profit increased by over 141% year-on-year to 8.73 trillion won (approximately $57.9 billion), thanks to the company’s ongoing efforts to improve its financial condition.

KEPCO’s financial difficulties began between 2021 and 2023, during a period of soaring global energy prices amid the Russia-Ukraine conflict, while the company continued to supply electricity at prices below production costs.