[Edaily Reporter Kim Hyung-wook] Starting in July, consumers will be able to receive cash rebates if they reduce their electricity usage by just 1% compared to previous years. Additionally, those who reduce their usage by 20% or more can cut their electricity bills by more than half.

According to the Ministry of Climate, Energy, and Environment on the 11th, #Korea Electric Power Corporation (KEPCO) will expand the implementation of the Energy Cashback program for residential electricity bills from July to December.

The residential energy cashback program was introduced by KEPCO in 2023 to encourage electricity conservation in households. Under this program, participating customers who reduce their monthly electricity consumption by at least 3% compared to the average of the previous two years will receive a discount of 30 to 100 won per kilowatt-hour (kWh) on their bill the following month, depending on the amount saved. Currently, 1.79 million households out of 20 million are enrolled.

Starting next month, the authorities will lower the threshold for cashback eligibility and increase the subsidy rate. Households will now be eligible for cashback if they reduce their monthly electricity consumption by just 1%, and the reimbursement will be up to 120 won per kWh, depending on the reduction rate.

For example, if a household with an average July electricity consumption of 400 kWh over the past two years reduces its consumption to 300 kWh this July—a 25% reduction—the bill will drop from 73,510 won to 34,740 won, a reduction of more than half. This is because the reduction in electricity usage alone results in a savings of 26,770 won, and an additional 12,000 won in cashback is added on top of that.

Park Deok-yeol, Director of Hydrogen and Thermal Energy Industry Policy at the Ministry of Climate Change, stated, “Energy conservation is the most economical and effective means of securing energy,” adding, “We expect that this expansion of support will encourage more citizens to participate in energy conservation and reduce their electricity bill burden.”