South Korea to raise electricity rates to reflect spikes in fuel prices

The South Korean government has decided to raise electricity rates by Won 5/kWh (0.4 cent/kWh) for the third quarter to reflect spikes in prices of fuels such as LNG and coal, the energy ministry and the state-run power monopoly said June 27. It marks the second hike in the country’s electricity tariffs this year following a Won 6.9/kWh rise for…