TAIPEI (TVBS News) — The chairman of Taiwan Power Company (台電) announced on Friday (Nov. 1) that the company intends to adjust electricity prices slightly in the future.
Taiwan Power Company Chairman Tseng Wen-Sheng (曾文生) noted that the company has recently absorbed about NT$280 billion in electricity costs, aiming to adjust prices within acceptable inflation levels.
The electricity price review committee recently decided to increase industrial electricity prices by up to 14% while freezing residential rates. Tseng, during an interview with The Liberty Times (自由時報), explained that the freeze on residential rates has helped ease domestic inflation but also led to losses for Taiwan Power Company. Fortunately, industrial rates will gradually reflect the actual costs.
Regarding residential rates, Tseng mentioned that the government currently subsidizes them, but he hopes to adjust them slightly within a reasonable consumer price index (CPI) range. This adjustment would raise awareness about energy conservation and more accurately reflect actual costs.
In response to Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) claim that Taiwan's electricity rates are the highest globally, Tseng clarified that TSMC's average electricity price relates to its usage pattern rather than the listed price.
Taiwan Power Company added that TSMC, as a 24-hour electricity user, benefits from lower off-peak rates, stressing the efficiency and competitiveness of Taiwan's power grid system.
Tseng remains committed to maintaining its competitive edge and ensuring that industries maintain competitiveness due to electricity price adjustments.