TAIPEI (TVBS News) — Taiwan's Minister of Economic Affairs J.W. Kuo (郭智輝) expressed hope on Thursday (Feb. 27) that the Legislative Yuan will approve a billion-dollar allocation to improve Taiwan Power Company's (Taipower, 台電) finances.
During a media briefing earlier that day, Kuo emphasized the ministry's commitment to ensuring competitive electricity costs, given Taiwan's export-driven economy. He reiterated that the Electricity Price Review Committee (電價審議會) will decide on any rate adjustments.
The committee will convene in late March to determine April's electricity rates. Observers expect a potential rate hike since the Legislative Yuan previously cut the NT$100 billion budget allocation for Taipower this year, significantly impacting its finances.
Kuo stressed the need for Taipower to improve its financial situation, acknowledging a partial correlation between financial health and electricity prices. Addressing questions about additional funding from surplus collections, he explained that Taipower incurred a NT$480 billion loss due to subsidizing residential electricity rates. He expressed hope for financial support to reduce these losses.
Kuo later highlighted the impact of international price fluctuations on Taipower's energy procurement, underscoring the challenges in maintaining operational profitability this year.