A bill to establish an electric rate for research and development has been proposed to prevent disruptions to government research and development projects due to a sudden spike in electricity prices.
Rep. Hwang Jeong-a of the Democratic Party of Korea noted on the 7th that she has introduced the 'Partial Amendment to the Electric Business Act,' which focuses on establishing a system for electric rates for research and development.
The recently proposed amendment to the Electric Business Act includes the creation of research and development electric rates, in addition to the existing classifications of electric rates for dwellings, general use, education, industry, and agriculture. The research and development electric rates aim to reduce the electricity costs for institutions that are required to conduct research on a limited budget, ensuring that they do not exceed the agricultural electric rates.
Currently, electricity consumed by research institutions is charged at industrial rates. The basic charge for industrial electricity is up to 7,470 won per kilowatt, which is about six times more expensive than the basic charge of 1,210 won per kilowatt for agricultural electricity.
According to data submitted by Hwang to the National Research Foundation of Korea, the Korea Astronomy and Space Science Institute, and the Korea Aerospace Industries (KAI), the total electric charges for 24 government-funded research institutes in the science and technology sector from January to July last year amounted to 61.47 billion won. This represented a 54.5% increase compared to the same period in 2021. Additionally, the Korea Institute of Science and Technology Information (KISTI) temporarily suspended operations of the Global Large-scale Data Hub Center (GSDC) due to the burden of electric fees in 2023.
Hwang said, 'The science and technology sector, which is responsible for our future food sources, must not be unable to conduct research due to electric rates.' She added, 'Through supplementary budgets, I will increase current expenses to cover last year's industrial electric rate hikes and establish a system for research and development electric rates, enabling field researchers to focus on their work in a secure research environment.'