Market Chatter: Korea Electric Power Shares Rise 3% After Company Chief Calls for Electricity Rate Hikes

MT Newswires Live

2024-10-14

Shares of Korea Electric Power (KRX:015760) rose 3% in recent trade on Monday after company president Kim Dong-cheol stressed the need to raise electricity rates to fund essential infrastructure and support key industries such as AI and semiconductors.

During a parliamentary audit in Naju, Kim highlighted the company's 43 trillion won loss from 2021 to 2023 and emphasized that rate normalization was necessary for sustainability. He said that reflecting production costs in electricity bills was vital for fostering growth in the energy sector, according to Yonhap News the same day.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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He said that reflecting production costs in electricity bills was vital for fostering growth in the energy sector, according to Yonhap News the same day.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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