[THE INVESTOR] A total of 670,000 households were unable to pay their electricity bill as of July, according to the state energy supplier‘s report on Sept. 30.

The households owed 83.1 billion won (US$75.8 million) in unpaid power bills. The number of households in arrears is relatively higher compared with 629,000 at the end of December in 2012, 589,000 in 2013, 597,000 in 2014 and 636,000 in 2015, according to the report submitted by the Korea Electric Power Corp. to the National Assembly energy committee.

The country’s progressive rate on electricity cost became an issue this summer when demand for air conditioning spiked for households from the summer heat that broke the record in duration.

Critics said the current system is outdated, formulated before home appliances became common. After much pressure from the parliament and civic groups, the government temporarily waived the progressive rate and introduced a way for households to pay the bills in installments.

KEPCO’s report said 4,769 homes had applied for installment payments as of Aug. 20, amounting to 1.36 billion won in monetary sum, or an average 286,123 won per household.

(theinvestor@heraldcorp.com)