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Invocation of the government reserve authority … It seems difficult to stop in the second half
[정연주 제작] illustration
(Seoul = Yonhap News) Reporter Bo-Ram Yoon = The reason electricity rates in the second quarter were ‘frozen’ despite the sharp rise in international oil prices was because the government exercised reserve authority.
This means that the increase in fuel cost was artificially prevented from being applied due to an increase in electricity rates.
However, in the long term, the upward trend in electricity rates is expected to be difficult to curb. In a situation where oil prices continue to rise, there is a fear that the purpose of introducing a peg system may not be clear if the authority to reserve is excessive.
22nd Ministry of Commerce, Industry and Energy and KEPCO[015760]According to the report, the fuel cost adjustment unit price for electricity rates in the second quarter is set at -3.0 won per kWh, the same as in the first quarter, and the electricity rates experienced by consumers are as same as in the previous quarter. .
If the rise in oil prices is reflected as is, the second quarter fuel cost adjustment unit should be -0.2 won per kWh, which should have increased by 2.8 won from -3. 0 won from the first quarter.
However, it remained at the same level as the previous quarter when the government issued the reserve authority.
When KEPCO asks the government to reflect the change in fuel cost adjustment rates, the reserve authority must decide whether the government will reflect it as is, partially reflect it or not.
First, the government decided to reserve to immediately reflect the impact of a temporary increase in the price of liquefied natural gas (LNG) caused by last winter’s strange wave.
In addition, the unadjusted amount incurred was used in determining the adjusted unit price in the first quarter.
Initially, the adjusted unit price for the first quarter was -10.5 won per kWh. This is because oil prices were so low last year.
However, the actual adjustment unit price was set at -3.0 won due to the provision that it is allowed to change only from the maximum range of ± 5.0 won per kWh to 3.0 won per hour compared to the previous rate.
In the end, an unadjusted amount of -7.5 won was produced in Q1, and this was used to offset the factor of the Q2 adjusted unit price increase.
The decision to make a reservation was due in large part to concerns that an increase in electricity rates could stimulate public prices.
In particular, one analysis suggests that it would have been difficult to go ahead with a policy that could increase the burden on households suffering from the aftermath of Corona 19 before the by-elections for the mayor of Seoul and Busan in April.
Earlier, Kim Yong-beom, First Deputy Minister of the Ministry of Strategy and Finance, said at the Deputy Minister’s meeting on price relations on 19: “We will minimize the impact of rising international oil prices on consumer prices through stable management. charges in the second quarter.
On this day, KEPCO also explained, “In order to promote the stability of the lives of people who are suffering from the prolonged Corona 19, they received a reservation notice from the government.”
[장현경 제작] illustration
It seems that the government’s decision to make a different decision than the forecast it had when it introduced the fuel price index in December last year was also a drag.
At the time, the Ministry of Industry forecast that the electricity bill for the second quarter of this year (April to June) would drop by 2 won per kWh compared to the first quarter.
It was difficult to avoid criticism for not correctly forecasting oil prices after raising the rate this time.
When the fuel price index was introduced, some experts pointed out that the government was too optimistic about international oil prices.
If the rebound in oil prices does not stop, the electricity rate for the third quarter, which will apply from July, will inevitably increase.
The government may use the reserve authority again, but in this case, there are concerns that the purpose of introducing the fuel cost index system, which is to rationalize electricity rates, will be overshadowed.
Professor Cho Heung-jong from Dankook University said in a discussion on the reorganization of electricity rates held late last year: “I wonder if the government will be able to enforce the link between fuel costs and electricity bills. when the price increases, “he said.
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2021/03/22 11:22 sent
