Taipower to propose electricity price reform in March

TAIPEI (TVBS News) — The likelihood of an overall increase in residential electricity prices has prompted Taipower to suggest moderate adjustments to the Electricity Price Review Committee on Thursday (Feb. 29).

The Taipower declared it is considering an amendment for the first time in 20 years, claiming that current low-end prices are not aligned with actual costs.

Taipower spokesperson Tsai Chih-meng stated that the last two electricity price adjustments only increased rates for high-level residential use, leading to backlash from industrial and commercial sectors.

The Ministry of Economic Affairs (MOEA) plans to convene the committee in late March to determine electricity costs effective from April. Both industry and residential sectors are widely expected to face an increase in electricity prices.

Tsai further commented that Taipower continues to liaise with industrial sectors, noting a consensus over the need for price adjustments. However, the terms on how to divide up the increased costs will depend on the meeting decision.

Recently, numerous industrial businesses have openly expressed their concerns over the potential effects of increasing electricity costs, acknowledging that electricity prices should reflect their defining costs, yet warn of possible adverse impacts on industrial and living costs.