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Korea Electric Power Keeps Q4 Rates Unchanged Despite Financial Strain

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Korea Electric Power (KRX:015760), or KEPCO, will keep electricity rates unchanged in the fourth quarter, with adjusted fuel cost for October-December remaining at the maximum level of 5 won per kWh.

This marks the 18th consecutive quarter that the adjusted fuel cost has been held at 5 won per kWh since the third quarter of 2022, according to a statement on Monday.

The actual fuel cost for the quarter was calculated at 549.64 won per kg, while the adjusted base fuel cost stood at 494.63 won per kg, producing a variable fuel cost of 55.01 won per kg.

Applying a conversion factor of 0.1335 kg per kWh yielded a required adjustment of 7.3 won per kWh, but the cap of 5 won per kWh was applied.

As a result, the final fuel cost adjustment is expected to further weigh on KEPCO's finances.

What else is happening in Asia?

Asia

Market Chatter: SoftBank Launches $11 Billion Bond Sale to Fund OpenAI Investment

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TYO:9984
Asia

Shenzhen Transsion's Hong Kong Listing Application Under Review; Shares Up 4%

Shenzhen Transsion (SHA:688036) said the Hong Kong Exchange is reviewing its application for listing on the Main Board.The listing is pending final approval from the Hong Kong bourse, the city's Securities and Futures Commission, and other regulators, according to a weekend filing with the Shanghai bourse.Shares of the mobile phone maker rose 4% in recent trade.

SHA:688036
Asia

China Approves Shanghai Rural Commercial Bank's Absorption of Peer

Shanghai Rural Commercial Bank (SHA:601825) received approval from China's National Financial Regulatory Administration to absorb Shanghai Chongming Rural Commercial Bank, according to a Saturday filing with the Shanghai bourse.The listed commercial bank will absorb Chongming RCB's assets, liabilities, institutions, businesses, employees, and other rights and obligations and will dissolve Chongming, according to the filing.

SHA:601825