South Korea's industrial electricity tariffs up by more than 5% cumulatively by 2028 if its new climate law is enacted, as state utility KEPCO passes through rising carbon-allowance costs.
The National Assembly's climate committee this week locked in steep decarbonisation targets for the power sector under the amended Carbon Neutrality Framework Act, and with the Emissions Trading Scheme already mandating a 69-75% cut for electricity generation alongside rising auctioned-allowance shares, KEPCO has a consistent record of recovering higher compliance costs through tariff hikes rather than absorbing them.
The National Assembly's climate committee this week locked in steep decarbonisation targets for the power sector under the amended Carbon Neutrality Framework Act, and with the Emissions Trading Scheme already mandating a 69-75% cut for electricity generation alongside rising auctioned-allowance shares, KEPCO has a consistent record of recovering higher compliance costs through tariff hikes rather than absorbing them.