South Korea's state-owned Korea Electric Power (KRX:015760) will raise electricity rates for industrial use by an average of 9.7% from Thursday while keeping household rates steady, Yonhap News reported Wednesday.
Large businesses will witness a 10.2% hike while small and medium-sized firms will face a 5.2% increase in electricity rates, the report said.
Shares of Korea Electric Power rose 5% in recent trade on Thursday.
(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.)
Price (KRW): ₩22950.00, Change: ₩+1000, Percent Change: +4.56%
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