Money Today Sejong = Correspondent Choi Min-kyung | 2023.04.23 06:07
With the announcement of electricity and gas rates for the second quarter being delayed, it is also expected that an announcement within this month will be difficult. The ruling party strongly insists that KEPCO and KOGAS will announce additional self-rescue measures, but it seems that it will take some time before additional self-rescue measures are prepared. However, the government deemed that the process of gathering opinions on electricity and gas rate increases had progressed sufficiently, and it was reported that the next meeting of the ruling Democratic Party had not yet been planned. According to related ministries on the 23rd, the government plans to announce electricity and gas rates for the second quarter at the same time as KEPCO and Gas Corporation announce additional self-rescue measures. Following the announcement of additional self-rescue measures by KEPCO and Gas Corporation, we are reviewing a plan to announce electricity and gas rates at the same time as the announcement.
KEPCO and Gas Corporation are pushing for self-rescue measures worth 28 trillion won each from 14 trillion won by 2026, but the ruling party believes it is not enough.
People’s power strongly criticized KEPCO and Gas Corporation at the ‘Democratic Party Government Meeting on Electricity and Gas Rates’ held at the National Assembly in Yeouido, Seoul on the 20th.
Park Dae-cheol, chairman of the People’s Power Policy Committee, said, “Is it time to be in the quagmire of moral hazard and only drive public opinion to scare the people in the road if we don’t raise the rate, we will all die together?” “I have urged KEPCO and KOGAS several times to make efforts to reduce restructuring, but it is unfortunate that there is still no response.”
In fact, the announcement of electricity and gas rate hikes in the second quarter hinted at difficulties until additional self-rescue measures were prepared.
In response, KEPCO and KOGAS are reviewing additional high-intensity self-rescue measures such as the return of pay increases and performance bonuses. In this regard, KEPCO CEO Jeong Seung-il issued a statement on the 21st and said, “With a broken heart, we will prepare and announce additional measures as soon as possible, including reducing labor costs, organizational workforce innovation, support to the energy. vulnerable, and measures to improve public convenience.”
However, it is not easy to come up with additional self-saving measures within this month. Even if salary increases or employee incentives are returned, the actual financial improvement effect is not significant because the ratio of labor costs to operating costs is not high. There are not many options to add to the situation where self-rescue measures are already being implemented, such as selling idle assets, reducing the number of employees, and reducing expenses.
An official from the Ministry of Trade, Industry and Energy said regarding the preparation of additional self-rescue measures for public energy companies, “it takes time because the costs and personnel expenses of public companies are not issues that can be promoted in a hurry like the decision – the making process is complicated and can be a legal problem.” We are preparing to formalize what we can offer quickly.”
However, the government believes that opinions from all walks of life relating to electricity and gas rates in the second quarter have fully converged. The party and the government held meetings with the Democratic Party and the Government twice a month to hear the views of public energy companies such as KEPCO and KOGAS, user groups and small business groups, academia, energy supply companies, and energy demand companies. It is known that attendees generally formed a consensus on the need to normalize electricity and gas rates. At this time, it is explained that the next meeting of the Democratic Party has not been planned.
[저작권자 @머니투데이, 무단전재 및 재배포 금지]
