TAIPEI (TVBS News) — The General Chamber of Commerce of the Republic of China (ROCCOC, 中華民國全國商業總會) announced Monday (Sept. 30) its efforts to freeze electricity prices for hypermarkets, traditional markets, convenience stores, and food manufacturers.
The electricity rate review committee discussed Taiwan Power Company's proposal to maintain residential electricity while increasing the average industrial rate by approximately 14%.
Hsu Shu-po (許舒博), chairman of the ROCCOC, emphasized the importance of freezing rates for essential sectors such as hypermarkets, traditional markets, and 24-hour convenience stores. He stated that it is crucial for people's livelihoods.
Hsu also highlighted the severe impact on cross-strait food exports, advocating for a rate freeze for food manufacturers to help stabilize food prices.
Taiwan Power Company noted that industries with declining electricity usage would see a 50% reduction in the rate increase. Despite the hike, Taiwan's average industrial electricity rates remain lower than those in Japan and South Korea, ensuring international competitiveness.
In recent years, international fuel prices have sharply risen, contributing to severe losses for Taiwan Power Company. The Executive Yuan (行政院) approved an additional budget in 2023 to subsidize residential electricity, but the Legislative Yuan (立法院) has yet to agree.
To avoid exacerbating the financial crisis and ensure price stability, Taiwan Power Company proposed the industrial rate hike, set to take effect in mid-October.
