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SKorea to raise domestic electricity, gas fees |
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World Posted On Friday, July 30, 2010 | Agencies
Seoul, July 30:
South Korea will raise domestic electricity tariffs by an average of 3.5 percent next month and city gas wholesale prices by an average of 4.9 percent in September, the Finance Ministry said on Friday.
The move, widely expected though the rates of increase were not known before, came as state-run utility companies suffer losses because the government has not allowed them to raise charges despite rising costs.
The ministry said in a statement the two items have a combined weighting of 3.51 percent in the country's official consumer price index.
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Friday, September 03, 2010