S.Korea to cut household electricity bills over heatwave

Seoul: The South Korean government announced on Tuesday that it will reduce household electricity bills to help families bear the burden of increased power usage as the result of an unprecedented heatwave.

Minister of Trade, Industry and Energy Paik Un-gyu said the first two stages of the progressive tariffs - out of a total three - will be revised to reduce household costs, reports Efe news.

The move is expected to save around 276.1 billion won ($246 million) in the power bills in July and August as the use of air-conditioners has shot due to the heatwave.

"(The government) will temporarily ease the progressive electricity rates and come up with ways to help underprivileged communities remain cool," the Minister said.

South Korea has been witnessing a sustained heatwave since mid-July, with record maximum and minimum temperatures of over 40 and 30 degrees Celsius respectively, along with humidity indices between 40 and 80 per cent.