[2021 National Assembly Audit] Moon Seung-wook, Minister of Industry, "Electricity Rate Increase Unrelated to Nuclear Phase-out"

Minister Moon Seung-wook of the Ministry of Trade, Industry and Energy is delivering a greeting at the 'Semiconductor Solidarity and Cooperation Council' held on the 28th at the Ara Hall of the Four Seasons Hotel in Jongno-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Sejong=Asia Economy Reporter Kwon Haeyoung] Moon Seung-wook, Minister of Trade, Industry and Energy, stated on the 5th that the background of the electricity rate increase in the 4th quarter "has nothing to do with the nuclear phase-out policy."

At the National Assembly's Trade, Industry, and Small and Medium Venture Business Committee audit held that day, Minister Moon explained, "International oil prices have risen significantly, so according to the fuel cost linkage system, there was a factor for rate increase in the 4th quarter. Nuclear power plants have been operating at the same capacity utilization rate as in the past, so it is unrelated to the rate increase."

He added, "Appropriately reflecting various cost factors involved in electricity supply in electricity rates helps the long-term development of the power industry," and "We are conducting related research services, recognizing the need for a transmission and distribution network rate system that includes the expansion of renewable energy for carbon neutrality."