TAIPEI (TVBS News) — The Executive Yuan (行政院) announced Monday (Sept. 30) that the government will continue to provide various subsidies to encourage businesses to improve their energy efficiency.
The Taiwan Power Company (台灣電力公司) faces severe financial losses, prompting the electricity rate review committee to freeze residential electricity prices while increasing industrial rates by an average of 12.5%. Industries experiencing a decline of over 5% in electricity usage or a 15% drop in output or revenue will see their rates frozen. The new rates will take effect on Oct. 16.
Executive Yuan spokesperson Michelle Lee (李慧芝) thanked the committee members for prioritizing residential needs by not raising household electricity prices.
Lee noted that the Executive Yuan supports the decision to freeze rates for industries related to domestic demand, such as convenience stores and supermarkets, believing this move will help stabilize prices.
Lee explained that the adjusted industrial electricity rate will average NT$4.29 per kilowatt-hour, remaining lower than the industrial rates in major competing countries like Japan and South Korea. This adjustment aims to maintain the competitiveness of Taiwan's industries while making domestic electricity costs more reasonable.
Lee also mentioned that the committee considered the burden on industries with declining electricity usage or output and offered either a half-rate increase or a freeze.
The government will continue assisting businesses in adopting energy services technology to mitigate the impact of rate hikes on companies.