"Record High Electricity Usage During August Heatwave...Electricity Rates to Increase by 13%"

Record-breaking heatwave causes 76% increase in overall electricity bills
190,000 super users consuming over 1000 kWh
KEPCO: "Limited price hikes due to electricity-saving efforts"

Last month, the average electricity consumption for residential use reached an all-time high. The average electricity bill per household was recorded at 63,610 won, an increase of 7,520 won (13.4%) compared to the same month last year. Electricity usage rose from 333 kWh to 363 kWh.

According to Korea Electric Power Corporation (KEPCO) on the 9th, out of a total of 25.22 million households, 19.22 million households (76%) experienced an increase in their electricity bills. Among them, 9.73 million households (39%) saw their bills increase by between 0 and 10,000 won, and 7.1 million households (28%) had an increase between 10,000 and 30,000 won. Only 380,000 households (1%) experienced a sharp increase of over 100,000 won. Households with decreased or unchanged bills were 5.69 million (23%) and 310,000 (1%), respectively.

There were 190,000 so-called “super users” who consumed more than 1,000 kWh. They accounted for about 0.7% of all electricity-using households and are expected to pay bills exceeding 300,000 won per month.

KEPCO’s residential electricity billing system is divided into three tiers: “below 300 kWh,” “300?450 kWh,” and “above 450 kWh.” It is a progressive rate system where the basic charge increases with higher usage. However, during the summer (July?August) and winter (December?February), when electricity consumption rises, a super user rate plan is applied to residential customers. This is a four-tier progressive rate system with a separate highest rate for households exceeding 1,000 kWh.

The increase in electricity bills is due to this year’s extreme heat. Despite concerns about electricity costs, the number of households running cooling devices such as air conditioners for extended periods has increased. This year, Korea broke various heatwave records due to the combined influence of the Tibetan High and the North Pacific High. The nationwide average number of tropical nights from June to August was 20.2 days, the highest ever recorded, and the average temperature was also the highest on record at 25.6 degrees Celsius. In particular, the average temperature in August was 2.8 degrees higher than usual.

However, KEPCO assessed that the increase in electricity bills was not as large as feared. A KEPCO official explained, “Many households increased their electricity usage due to the heatwave,” but added, “Thanks to the efforts of citizens practicing electricity conservation, the increase in electricity bills was limited.”