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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: S.Korea further delays power price hikes Reuters - Monday, November 10 SEOUL, Nov 10 - South Korea has indefinitely postponed annoucing electricity price hikes for a second time to further examine recent oil price and currency movements, Seoul's energy ministry said on Monday. Last week, the ministry said it would hold a meeting through the weekend to discuss the plan to lift power costs and make an official announcement on Monday. [ID:nSEO32215] This was the second time the plan was put on hold since October. Government caps on fuel tariffs in place since January 2007 to curb inflation have been pressuring state-run energy firms Korea Electric Power Corp <015760.KS>, and Korea Gas Corp <036460.KS> as raw material costs soar and the won plunges. But the talks on lifting tariffs were delayed in October due to inflation pressure and slowing economic growth. [ID:nSEO128283] Earlier in the month, KEPCO said it needed a 15 percent rise in power costs this year and a further 15 percent hike next year to cover rising fuel costs, forecasting a loss for 2008 that would be the first in its 26-year history. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Oil Price Hike World oil prices up on OPEC chief's remarksAFP - 2 hours 2 minutes ago S.Korea further delays power price hikesReuters - Monday, November 10 Saudi Aramco says on track for 12 mbpd capacityReuters - Monday, November 10 OPEC president: Oil cuts likely if no price rallyAP - Sunday, November 9 Related Articles: Business China regulator urges banks to bolster risk controlsReuters - 45 minutes ago Australia's central bank slashes growth forecastsAP - 46 minutes ago France, Australia ministers meet to boost tiesAFP - 49 minutes ago Indian shares up more than 3 pct as sentiment liftsReuters - 50 minutes ago China's economy to grow 8-9 percent in '09: central bank chiefAFP - 52 minutes ago Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Business Viewed Documents expose Prince William RAF training row: report G20 pledges 'all necessary steps' to restore stability In Obama's victory, Americans see legacy of Lincoln Porsche hits record results on the back of VW shares Obama: First pooch may be mutt 'like me' View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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