SEOUL, Aug. 7 (Xinhua) -- South Korea's government will temporarily cut electricity rate for households during the peak summer season as the scorching heatwave hit the entire country, the energy minister said Tuesday.

Paik Un-gyu, the minister of trade, industry and energy, told a meeting with the ruling Democratic Party lawmakers that the incremental electricity rate for households will be temporarily eased in July and August.

Paik said the energy ministry will take measures to help the underprivileged stay cool, noting that there has been no problem with power supply as the country secured sufficient electricity reserves.

The eased incremental system would have an effect of cutting the electricity costs by about 20 percent, according to local media reports.

Paik's remarks came a day after President Moon Jae-in ordered a temporary cut in electricity rate amid the sweltering heatwave.

Temperatures across the country hovered around 40 degrees Celsius, but the low-income households refrained from operating air conditioners on concerns over a so-called "electricity charge bomb."

The incremental electricity rate is only applied to households, which bear more burden for electricity charges than industrial companies and merchandisers.

The incremental system was adopted in 1970s to allow industrial companies to use more electricity than households for fast industrialization.