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Taiwan’s CPI hits 4-month high with 2.42% increase in June
CPI up 2.42% in June, highest in 4 months Fruit prices soared 22.60%, rents and dining out rose Egg prices fell, core CPI grew 1.83% annually Medical costs up 3.78%, housing rose 2.27%
2024/07/05 17:06
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Taiwan education ministry to offset higher power rates
Discover how Taiwan’s Ministry of Education plans to support universities and colleges with electricity costs amid Taipower’s cancellation of price concessions. Learn about sustainable campus initiatives.
2024/06/26 10:15
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Taiwan’s legislature votes to halt electricity price hike
Discover how Taiwan’s Legislative Yuan voted to halt a planned electricity price hike, a decision driven by public concern over rising living costs and the complexities of energy policy.
2024/04/30 15:49
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Taipei offers subsidies to mitigate rising electricity costs
Explore how Taiwan’s significant electricity rate hike affects businesses and consumers, and the Taipei City Government’s efforts to mitigate these impacts through subsidies and energy-efficient technology upgrades.
2024/04/10 17:31
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Price surge alert: from electricity bills to zoo tickets
Stay informed about the latest developments in Taiwan as electricity prices, lunch box prices, Taipei Zoo admission tickets, and license taxes are set to increase starting April 1. Make sure to plan ahead for these changes to your monthly expenses.
2024/04/01 17:56
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Taipower debunks myths about skyrocketing electricity bills
Taiwan Power Company (Taipower) clarifies that specific household appliances do not lead to a monthly electricity bill increase of NT$10,000. Learn about time-of-use rates, energy-saving subsidies, and progressive billing for residential and business electricity consumption.
2024/03/25 13:45
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Economic minister confirms electricity rate adjustments
Minister of Economic Affairs Wang Mei-hua discusses electricity rate adjustments in Taiwan, emphasizing the impact on household usage below 330 kilowatt hours. Kuomintang Legislator Yang Chiung-ying opposes price hikes, proposing solutions to address citizen hardships amid inflation. Wang highlights considerations for nuclear power and renewable energy costs, amidst concerns over safety regulations and nuclear waste. Yang challenges Taipower’s deficits and criticizes passing on costs to residents through price increases.
2024/03/07 17:23
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Taiwan’s MOEA to monitor electricity price changes
Stay updated on Taiwan’s economic landscape with the latest news from Minister of Economic Affairs Wang Mei-hua. Discover insights on electricity price fluctuations and their impact on domestic issues, as well as the government’s strategies to address losses incurred by Taiwan Power Company. Explore the projections for economic growth and inflation rates amidst industry recovery and upcoming events.
2024/03/01 15:56
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Taipower to propose electricity price reform in March
Taipower proposes moderate adjustments to residential electricity prices for the first time in 20 years due to discrepancies between current prices and actual costs. The Electricity Price Review Committee is set to convene in late March to determine new rates effective from April, with expectations of increases across both industry and residential sectors.
2024/02/29 14:21
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Taiwan gears up for water price hike: calls for conservation
Stay updated on Taiwan’s impending water price hike and strategies for conservation amid concerns of increased charges for high water users. Learn about potential adjustments in tariffs, efforts to mitigate impacts on large enterprises, and the importance of balancing water resource management with economic sustainability.
2024/02/23 15:56
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Taipower at risk of financial crisis without government aid
Taiwan Power Co. (Taipower) faces a potential financial crisis by year-end without government aid or electricity price hikes, warned Minister of Economic Affairs Wang Mei-hua. An upcoming electricity price review may see rates for ultra-high-voltage users surge by over 10%. Wang emphasizes the need for discussion in the committee meeting and assures efforts to minimize impacts on the public. Taipower’s efficient management has helped curb price spikes and inflation, with plans in place for financial support and program development. Current electricity costs for major consumers stand at around NT$1.63, while Taipower’s generation cost, pre-tax, is NT$3.93, expected to surpass NT$4 post-tax.
2024/02/20 13:10
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City gov’t finalizes rental fees for Taipei Dome
The Taipei City Government has received proposed rental fee standards for the Taipei Dome from the Farglory Group. The Department of Sports confirmed that ticket sales and rental costs for domestic baseball games amounted to NT$525,000, including a 10% ticket sales cut. For non-ticketed events open to the public, venue rent costs rise to NT$1.05 million. The Taipei Dome has established its venue rental pricing standard after three months of trial run and submitted it to the city government. The rental fee will vary based on event types and standards, with utilities calculated separately. Different rates apply to international baseball events, non-baseball events, non-sporting events, and specific events like concerts or exhibitions. Rental costs also differ based on whether the venue is fully opened or not. The Farglory Group has provided the proposed fee standards to the city government for evaluation and a public announcement will be made after discussions.
2024/02/02 15:54
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Taiwan’s MOEA to aid Taipower’s budget crisis
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.
2024/01/23 13:09
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Expert tips for reducing electricity bills during summer
Striking a delicate balance between minimizing heat and conserving energy consumption continues to present a challenge for residents of Taiwan every summer.
2023/06/10 16:32