fuel prices 結果共5筆

The Executive Yuan of Taiwan approves an additional NT$100 billion budget for 2024 to support Taipower in offsetting electricity costs, addressing the company’s financial challenges and the impact of global events on fuel prices. The proposal, aimed at reducing Taipower’s projected deficit, now awaits Legislative Yuan review.

Taiwan’s economic minister emphasized the necessity of a power price hike to address rising international fuel costs, but the Legislative Yuan voted to halt the hike due to public opposition. The decision raises concerns about Taipower’s financial stability and power supply.

The Minister of Economic Affairs, Wang Mei-hua, plans to help Taiwan Power Company (Taipower) seek budgetary support from the Executive Yuan to alleviate its financial distress. Taipower reached out to the Ministry of Economic Affairs (MOEA) for assistance, citing escalating international fuel prices caused by the Russia-Ukraine war. Other global power companies, such as Korea Electric Power Corporation (KEPCO), Tokyo Electric Power Company (TEPCO), and Électricité de France (EDF), have already experienced significant price hikes. Taipower’s rates are relatively low compared to the cost of power generation, resulting in policy-driven losses. As of 2023, Taipower has accumulated losses of NT$382.6 billion due to absorbing price increases to protect Taiwan from global inflation. The MOEA disclosed that Taipower and the CPC Corporation have discrepancies in predicting natural gas prices, leading Taipower to observe international coal prices for cost estimates in 2024. While mitigating Taipower’s financial woes in the short term poses challenges, Wang aims to prevent further losses. The MOEA will assist Taipower in lobbying the government for budget support once financial situation estimates are finalized. The decision to adjust electricity prices will be made by the Electricity Price Review Committee.

The CPC Corporation, under the Ministry of Economic Affairs, has announced a reduction of NT$0.3 in gasoline prices and an increase of NT$0.3 in diesel prices starting midnight on Monday. This adjustment is part of the ongoing implementation of the dual stabilization mechanism for oil pricing. The pricing measures absorbed NT$0.2 for both gasoline and diesel this week, following a decline in the 7D3B weekly average price. The floating oil pricing mechanism originally predicted a decrease of NT$0.1 in gasoline prices and an increase of NT$0.5 in diesel prices. However, due to currency appreciation in neighboring Asian countries, Taiwan’s price adjustments fell below those of its neighbors, resulting in a net absorption of NT$0 for both types of fuel. CPC has stated that it will continue to adjust domestic fuel prices in accordance with the oil pricing formula and government tax reductions to maintain the lowest possible prices in Asia and stabilize domestic oil prices through its stabilization measures.

Taiwan’s state-owned Taipower has reported a loss of NT＄130 billion for the first half of 2023, despite the recent government decision to raise electricity prices for industrial users. The cumulative losses over two years are projected to exceed NT＄460 billion by the end of the year.