TAIPEI (TVBS News) — Taiwan Power Company (Taipower, 台電) addressed speculation on Monday (Jan. 13) about a potential 7% electricity price hike in April, along with a possible increase in water rates, clarifying that the Electricity Tariff Examination Council (電價審議會) decides on price adjustments, and no current plans for a price increase exist.
Taipower revealed its efforts to absorb over NT$80 billion annually from 2022 to 2024 to mitigate residential electricity costs, totaling NT$280 billion over three years. The company has also sought a NT$200 billion budget to subsidize residential electricity prices. With the average residential electricity price at just NT$2.77 per kilowatt-hour, one dollar below cost, over 14 million households benefit. Taipower urged the Legislative Yuan to support budget allocations to stabilize consumer prices.
The company highlighted that many countries significantly raised electricity prices between 2020 and 2023. For instance, France saw residential and industrial electricity prices increase by 37% and 139%, respectively, while South Korea's prices rose by 49% and 87%, Taipower noted. In contrast, Taiwan's residential electricity rates increased by only 7.1% over the past three years, underscoring the government's commitment to balancing public interests with energy stability.
As discussions progress, the company's call for legislative backing remains crucial to achieving these objectives.