[경제]KEPCO expected to lose 20 trillion won… Will the promise of ‘freezing electricity rates’ come true?

[앵커]

During the presidential election, President-elect Yoon Seok-yeol criticized the current government’s announcement to raise electricity rates after the presidential election and promised to freeze electricity rates.

However, the reality is not easy, with some forecasting that KEPCO’s deficit will reach a whopping 20 trillion won due to soaring energy prices in the aftermath of the Ukraine crisis.

This is reporter Kang Jeong-gyu.

[기자]

At the end of last year, the government announced plans to raise electricity rates twice this year in April and October.

Amid the criticism that the burden of electricity rate hikes has been shifted after the presidential election, President-elect Yoon Seok-yeol pledged to wipe it out.

[윤석열 / 대통령 당선인 (지난 1월) : 졸속으로 밀어붙인 탈원전 정책으로 발생한 한국전력의 적자와 부채의 책임을 회피하고 전기료 인상의 짐을 고스란히 국민께 떠넘기는….]

The problem is that the price of energy such as coal and oil for power generation is skyrocketing in the aftermath of the Ukraine crisis.

In the case of liquefied natural gas (LNG), which relies the most on electricity generation, it nearly tripled in one year.

As a result, the electricity wholesale price (SMP) recently exceeded 200 won per 1kWh.

It is up 70% from New Year’s Day (126.81) and three times more expensive than last year’s price (70.72).

Last year, KEPCO recorded an operating loss of 5.860 trillion won, the worst performance ever.

It is estimated that this year, the deficit will reach a whopping 20 trillion won even if electricity bills are raised as scheduled.

[박광려 / 신한금융투자 연구위원 : 한국 전력의 영업 적자 확대는 우리나라 전기요금이 다른 선진국 대비해서 너무 낮다는 것부터 출발하기 때문에 이제 그런 걸 비교하면서 국민을 설득하면 모르겠는데….]

The government, which has the power to determine electricity rates, donated 668 billion won of supplementary budget to KEPCO, which suffered a huge loss due to high oil prices in 2008.

Even if the Yun Seok-Yeol government keeps its promise to freeze electricity rates, the vicious cycle of ‘samosaurs’, which eventually compensates for the losses with the people’s blood tax, may repeat itself.

This is Kang Jeong-gyu from YTN.

YTN Kang Jeong-gyu ([email protected])

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