Industry Minister Reiterates Need for Hikes in Electricity, Gas Prices

Industry Minister Ahn Duk-geun has reiterated the need to hike utility prices, saying that the government is weighing the “appropriate timing” to raise the prices of gas and electricity. 

The minister made the remarks to reporters on Tuesday when asked about the matter, saying that the government must normalize electricity and gas prices, stressing that it is urgent. 

The minister, however, added that amid other rising prices, the hikes in utility fees would increase burdens on industries and have a direct impact on consumers, stressing the need to pursue a balance. 

Ahn added that the government is looking for an appropriate time to raise utility prices while closely monitoring the situation in the Middle East.

The minister made a similar call for hikes in electricity prices in January.