SEOUL, Oct. 5 (Korea Bizwire) — South Korea’s state power utility said Wednesday it plans to increase coal-fired electricity generation temporarily this year in an effort to cut costs and boost financial health. Korea Electric Power Corp. (KEPCO) said it will produce 12.8 terawatt hours (TWh) with coal this year instead of using liquefied natural [...]
SEJONG, Sept. 30 (Korea Bizwire) — South Korea’s state power utility said Friday it will raise fourth-quarter electricity rates for consumer and industrial use amid high energy costs and mounting losses. Korea Electric Power Corp. (KEPCO) said it has decided to jack up the adjusted unit fuel cost — a key part of the country’s [...]
SEOUL, Sept. 9 (Korea Bizwire) — Six affiliates of the state-run Korea Electric Power Corp. (KEPCO) plan to cut their investment in renewable energy over the next five years as they are under pressure to improve their worsening financial health, according to a report on Friday. The six affiliates, including Korea Energy and Korea East-West [...]
SEOUL, Aug. 12 (Korea Bizwire) — The state-run Korea Electric Power Corp. saw its net loss widen sharply in the second quarter of the year on frozen electricity rates amid higher fuel costs. The consolidated net loss came to 4.84 trillion won (US$3.7 billion) in the April-June period, compared with a loss of 661.97 billion [...]
SEOUL, Aug. 9 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) likely posted a massive loss in the second quarter due to surging costs following record red ink three months earlier, a market tracker said Tuesday. The market consensus of KEPCO’s consolidated operating loss stands at 5.37 trillion won (US$4.11 billion) for the [...]
SEOUL, July 20 (Korea Bizwire) — South Korea’s state-run Korea Electric Power Corp. (KEPCO) said Wednesday it has built a 60-megawatt solar farm in Guam, a move that could help reduce the U.S. Pacific territory’s dependence on imported oil and boost access of its people to clean electricity. KEPCO said it held a ceremony earlier [...]
SEOUL, June 27 (Korea Bizwire) — South Korea said Monday it will raise electricity rates for the third quarter and natural gas prices for civilian use starting next month amid mounting inflationary pressure due to high global energy costs. The state-run power firm Korea Electric Power Corp. (KEPCO) said it will raise the adjusted unit [...]
SEOUL, June 9 (Korea Bizwire) – South Korea’s state power firm Korea Electric Power Corp. (KEPCO) has been sharply increasing debt sales this year as the utility company remains deep in the red amid surging costs and the freeze in electricity rates, sources said Thursday. In its latest move, KEPCO has recently carried out a [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s state-run Korea Electric Power Corp. (KEPCO) said Thursday that it agreed with the U.S. nuclear power firm Westinghouse to boost cooperation for joint entry into overseas nuclear markets. The agreement was made during a meeting between KEPCO chief Cheong Seung-Il and Westinghouse CEO Patrick Fragman on Wednesday. [...]
SEOUL, May 18 (Korea Bizwire) — South Korea’s state power firm Korea Electric Power Corp. (KEPCO) said Wednesday it will sell all overseas coal power plants, including one in the Philippines, as part of efforts to improve its financial status over record quarterly losses. Last week, the state-run electricity monopoly reported a record-high operating loss [...]