Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Gov’t eyes measures for stable electricity rates amid volatile global energy prices – Full Analysis.
Published: 11 Mar. 2026, 15:43
This file photo, taken Dec. 18, 2025, shows electricity meters at a building in Seoul. [YONHAP]
The government will prepare precautionary measures to maintain stable electricity rates amid recent volatility in international energy prices following the Middle East crisis, the Climate Ministry said Wednesday.
Climate Minister Kim Sung-hwan shared such a plan at a meeting with state-run utility firms, including the Korea Electric Power Corporation and the Korea Gas Corporation, held to discuss responses to soaring energy prices, according to the ministry.
According to Kim, the country has seen a limited impact on electricity rates from the recent rise in international oil and natural gas prices so far, but it will likely face cost pressure in the future if the supply chains are further disrupted.
Government measures will include the timely reactivation of nuclear power plants undergoing maintenance, as well as coal-fired power plants that were temporarily shut down for seasonal fine dust management, officials said.
The ministry said it will also work to foster the growth of the renewable energy market, which is less affected by global energy prices, noting it is the fundamental solution for lessening volatility in Korea’s energy system.
Yonhap