South Korea electricity rates will remain unchanged in the fourth quarter after Korea Electric Power Corporation (KEPCO) kept the fuel cost adjustment rate at plus 5 won, or about $0.0036, per kilowatt-hour for October through December 2026. KEPCO announced the calculation details on the 21st. Electricity bills combine a contract-based base rate, a usage-based rate, a climate environment fee and the fuel cost adjustment charge. The quarterly charge is set within a range of plus or minus 5 won per kilowatt-hour, reflecting fuel-cost changes including bituminous coal and liquefied natural gas (LNG) during the preceding three months. KEPCO calculated that the required adjustment for the quarter was 7.3 won, or about $0.0053, per kilowatt-hour, but the increase was capped at the permitted maximum. With no separate increases to the other bill components, fourth-quarter rates will remain frozen. The adjustment has stayed at plus 5 won since the third quarter of 2022, or 18 consecutive quarters. International oil prices that were in the $60 range last year have fluctuated around $120 this year amid the U.S.-Iran conflict, while the charge has remained unchanged. Although the system was designed to track international LNG prices, KEPCO has maintained the ceiling while managing debt accumulated to restrain electricity-rate increases during the Russia-Ukraine war period. It also did not immediately lower the charge after oil and LNG prices largely stabilized from 2024 onward.