Lee Jae-myung, President: "Electricity rate hikes are inevitable for greenhouse gas reduction… Must seek public understanding"

President Lee Jae-myung stated that electricity rate increases may be inevitable in the process of achieving greenhouse gas reduction targets, emphasizing the need to seek public understanding and minimize burdens through the expansion of renewable energy.

On the 14th, during a senior advisors meeting held at the Yongsan presidential office, President Lee emphasized, "As we strive to meet greenhouse gas reduction targets, electricity rates will inevitably rise," and stressed the importance of actively informing the public to seek understanding and agreement.

According to a briefing by Lee Gyu-yeon, Senior Secretary for Public Communications, President Lee mentioned, "Since the Republic of Korea has declared and legislated carbon neutrality by 2050, we must set our 2035 targets accordingly."

He also ordered, "Environmental issues and economic issues cannot be separated; turn the climate crisis into an opportunity for growth."

Instructions for policies that consider the climate crisis response and specificities of industries

President Lee specifically stated, "If we have to go this way anyway, we must actively respond to the climate crisis," directing, "We should devise ways to significantly increase renewable energy production to achieve national reduction targets."

He added that policies should consider the specificities of certain industries such as steel, refining, and chemicals.

During the meeting, discussions focused on climate crisis measures and energy policy, and the preparations for the national greenhouse gas reduction target for 2035, which needs to be submitted to the UN within this year, were reviewed, according to the senior secretary.

Regarding the issue of electricity rate increases, the senior secretary said, "We need to start thinking about this from today," adding, "First, we need to determine what we must do by this year for the period leading up to 2035."

He further noted, "When setting reduction targets, we must consider what kind of pressures can arise; it's not about just indiscriminately raising or lowering electricity rates, but pursuing greenhouse gas targets may create such pressures, so we need to keep a close watch on that."

Emphasis on protecting vulnerable groups and expanding renewable energy

The senior secretary reported, "As we increase greenhouse gas reduction targets, we will inevitably feel pressure regarding electricity rates, but even so, we need to be careful and not transfer that pressure directly to vulnerable groups."

He also added, "Looking at the direction advanced countries are heading, we cannot avoid greenhouse gas reductions; we must quickly increase renewable energy to minimize pressure."

He remarked, "To alleviate such pressures, we talked about technology assessments like Energy Storage Systems (ESS) or the energy expressway," stating, "It's premature to say whether or not to raise electricity rates or when to do so."

Concerning President Lee's remarks about considering the specificities of the steel, refining, and chemical industries, he explained, "If we apply a one-size-fits-all approach across industries, it could have unintended impacts, so we were reminded to tread carefully."

A presidential office official clarified President Lee's statement, saying, "It's not that rates will definitely go up; they may go up, and we're asking to devise measures," adding, "The emphasis was on promptly enhancing and expanding renewable energy to minimize pressures such as electricity rate increases."

Image sources: Lee Jae-myung, President / News1, Lee Gyu-yeon, Senior Secretary for Public Communications / News1, stock photos for better understanding of the article / gettyimagesbank, stock photos for better understanding of the article / picture = insight