City gas rates will rise again next month. You have to pay an additional 2450 won per month per household. The government raised city gas rates for residential and general use on the 1st as well by adjusting the standard raw material cost.
According to the Ministry of Trade, Industry and Energy on the 30th, city gas rates for civil (housing and general use) will increase by 8.4% to 9.4% from May 1. This increase was already predicted last year. This is because the cost of raw materials soared due to the rise in the unit price of liquefied natural gas (LNG), but the receivables of the Korea Gas Corporation increased as the price increase was suppressed to stabilize prices.
However, in consideration of the settlement unit price increase, the wholesale supply cost for private use, which is set in May every year, will be cut by 0.1% and 0.3% for residential and general use, respectively, the Ministry of Industry said.
Accounts receivable were the portion of the LNG price that KOGAS could not collect as a fee. As of the end of last year, receivables amounted to 1.8 trillion won. Accordingly, the government decided to partially relieve the receivables by raising the settlement unit price in stages in May, July, and October of this year.
Considering the increase in the settlement unit price and the reduction in wholesale supply costs, the housing rate will increase by 8.4% from the current 14.6543 won per MJ to 15.8810 won from the 1st of next month. Business 1 (restaurant business, cafeteria, hairdressing business, lodging business, swimming pool, etc.) charges 8.7% from 14.2631 won/MJ to 15.5100 won/MJ. The fee for commercial use 2 (bathroom, waste treatment plant, garbage incineration plant, etc.) will increase by 9.4% from 13.2614/MJ to 14.5083/MJ, respectively.
Overall, the average gas bill per household increases by 2,450 won from 29,300 won to 31,750 won per month.
It seems that gas rate increases are inevitable for the time being.
The Ministry of Trade, Industry and Energy explained that the increase was to resolve receivables, but the reason is that receivables are expected to increase this year as LNG prices have skyrocketed due to the Russian invasion of Ukraine.
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