한국전력. (사진=연합뉴스)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] It has been confirmed that British investment firm Silchester International Investors, a major shareholder of KEPCO, recently sent a letter of protest to KEPCO saying, "Why not raise fares even when there is a large deficit by selling electricity below cost?"

Silchester is an investment company established in 1994 and has invested in KEPCO for a long time and owns a 1.27% stake in KEPCO as of the end of last year.

According to the financial investment industry on the 5th, Substancester has figured out why KEPCO can not raise rates through performance conference calls and unofficial letters, and how KEPCO will have the right to decide rates. Recently, after reports that politicians have asked KEPCO for self-rescue measures, he actually called for a rate hike, saying, "Can the company's self-rescue efforts improve the current deficit?"

KEPCO also protested that it has not paid any shareholder dividends over the past two years. Under the current law, KEPCO can only allocate money in the year of net profit. KEPCO posted net losses of 5.2156 trillion won and 24.4291 trillion won in 2021 and 2022, respectively. In response, Realster is said to have responded by saying, "We need to raise the rate in order to get a dividend, when can we change the rate system?"

"It is true that there are opinions that KEPCO should improve its current structure that cannot determine electricity bills and systems on its own," a KEPCO official said. "They (foreign investors) do not fully understand the special aspects of Korea." In addition to Silchester, foreign investors who own KEPCO shares are said to be dissatisfied with KEPCO, which sells electricity at prices that are less than cost. Foreigners' stake in KEPCO exceeded 30% until 2017, but now it has been lowered to 14.4%.

When asked about his opinion on the KEPCO situation, Silchester replied, "I can't make any comments (about the investment company)."

 

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