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Taiwan holds steady on water prices amid economic debate

Reporter TVBS News Staff
Release time:2024/03/13 19:11
Last update time:2024/03/13 19:11
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Taiwan holds steady on water prices amid economic debate (Shutterstock) Taiwan holds steady on water prices amid economic debate
Taiwan holds steady on water prices amid economic debate (Shutterstock)

TAIPEI (TVBS News) — Taiwan's Minister of Economic Affairs, Wang Mei-hua, said on Wednesday (March 13) that there are currently no plans to increase water prices. 

Taiwan People's Party (TPP) Legislator Chang Chi-kai called not to increase water prices by year-end to avoid compounding the effects alongside imminent hikes in electricity rates. Chang argued that with electricity prices set to rise for three consecutive years, any increase in water prices would lead to inflation.

 

Responding to Chang's plea for assurance against water price increases, Wang said the Ministry of Economic Affairs would prudently address the issue.

"Thank you for the reminder. We currently do not have plans towards this subject." Wang said. 

Wang declined to take a stance on the impending electricity price hikes, only saying, "We will collect opinions from all parties."
 

Chang contended that household electricity prices should not be raised, noting that high-tech industries like semiconductor companies consume most of Taiwan's electricity while gaining significant profits. Their electricity consumption is even subsidized with people's money.

He further suggested that electricity prices for households using less than 1000 kWh should not be raised. Citing rising inflation amid an electricity price hike would strain Taiwanese households.

Chang added that the National Development Council estimates that a 10% increase in electricity prices would raise the consumer price index by 0.2% to 0.3%.

Kuomintang Legislator Yang Chiung-ying also denounced the planned electricity price hike, advocating for the ministry to seek subsidies from the Executive Yuan to ensure that electricity prices for households using fewer than 300 kWh remain unchanged to stabilize prices.

Taiwan Affairs

#Taiwan water prices# Electricity rate increase# Inflation spikes# Semiconductor companies Taiwan# Household electricity prices# Consumer price index Taiwan# Electricity price stability

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