Nov. 19, 2013, 10:27 AM
- Korea Electric Power (KEP +7.1%) gaps higher at the open after South Korea said it will hike electricity tariffs in a bid to avert power blackouts and cut billions of dollars in losses.
- In the second tariff hike this year, the government will raise electricity prices by an average 5.4% beginning Thursday, with industrial users facing the biggest hike.
- The government hopes higher electricity prices will curb power use, and policymakers want tariffs that more closely reflect generation costs.
Jul. 17, 2012, 1:05 PMMitsui & Co. (MITSY +0.2%) and Korea Electric Power (KEP +1%) say they will collaborate to upgrade a fossil-fuel-burning power plant for Takoradi International in Ghana. The project includes adding a steam turbine, heat recovery steam generators and a seawater cooling system to the existing gas turbines, and will have a total contract value of around $260M. | Comment!
Dec. 18, 2011, 11:36 PM
Sep. 21, 2011, 7:16 AM
Apr. 14, 2011, 9:22 AMAn adviser to the Bank of Korea calls for rates to be raised to at least 4% to combat inflation (currently running near 4%) and put a check on rising household debt. What is the state of the world when even a hawkish voice isn't calling for positive real rates? Gold hovers near record levels at $1,460/oz. | Comment!
Jan. 19, 2010, 9:00 AM
Dec. 28, 2009, 9:00 AM
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