Taiwan mulls subsidies to offset electricity price hike

TAIPEI (TVBS News) — Taiwan's Minister of Economic Affairs Wang Mei-hua revealed Wednesday (March 13) that the Electricity Pricing Working Group (電價工作小組) is currently undergoing discussions and that the government is seeking budgetary subsidies, but specifics remain undetermined.

The General Chamber of Commerce appealed for a NT$200 billion subsidy amid pressure due to an impending electricity price increase in April.

During an interview before reporting at the Legislative Yuan, Wang explained that in the past two to three years, Taipower had absorbed significant costs to combat inflation, a move that caused a deficit.

As a response to inflationary pressures and the impending power price hike, Wang stated that if an actual increase occurred, the government would prioritize adjustment targets. The working group is deliberating on these exact details.

She also noted the necessity of considering the recipients of electricity and price suppression and how much the subsidy should be to determine who would benefit more - citizens or enterprises.

The minister hinted at a conservative approach, departing from concrete commitments. The final subsidy and price adjustment plan could be determined early next week.

Based on previous announcements by Taipower, the price for all electricity usage might increase, with the lowest tariff seeing a surge of up to 5%.

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