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KEP - Korea Electric Power: All Eyes On Tariff Hike
Korea Electric Power Corporation
It is a positive surprise that a tariff hike will be implemented in Q4 2021, notwithstanding the fact that this is only a partial pass-through of the fuel cost increase.
Further tariff hikes are very likely to be implemented after the March 2022 presidential elections; while the company's pivot to renewables is a key medium-term growth driver to watch.
I maintain my Buy rating for Korea Electric Power, as valuations are appealing and there are short-to-medium term catalysts.