South Korea will temporarily lower progressive tariffs for electricity for July and August,... as part of efforts to ease the burden of hefty electricity bills caused by the extreme heatwave.
The decision was reached during a meeting this morning between the ruling Democratic Party of Korea and the government.
The measure will result in a cut of roughly 245 million U.S. dollars -- which translates to about a 19-point-five percent reduction in electricity fees per household.
The two sides also agreed to expand discounts for those in the low-income bracket, social welfare facilities,... as well as households with infants under the age of three.
"The measures seek to reduce concerns about expensive electricity bills,... as well as boost support for the vulnerable. We also plan to designate heatwaves and extreme cold snaps as natural disasters,... so the country can provide systematic responses to the related damages."
"We hope the measures can ease the burden on households so they can endure the heatwave. I understand related bills are piling up at the National Assembly. With parliament at the center,... the government will also do all it can to support and come up with feasible measures."
The meeting comes a day after President Moon called for temporarily cutting electricity bills for low-income households during July and August.
The government will announce its comprehensive plan in detail this afternoon.
