News
Budget boost to limit Taipower's losses
An additional budget allocation from the cabinet is expected to help Taiwan Power Company cut its significant deficits to NT$9.3 billion (US$287 million) in 2024.
The Legislature's Budget Center said in a report that the extra NT$100 billion fund will help cover the anticipated losses of approximately NT$188.7 billion for the state-run company.
In all, the central government has given Taipower NT$150 billion in subsidies and NT$250 billion in capital injections over the past two years. The center adds that a recent electricity rate hike in Taiwan and declining fuel prices are also considered favourable factors for reducing the financial burden of debt-ridden Taipower.
But Taipower still needs to address its accumulated deficits of NT$382.6 billion by the end of 2023, since it is essential for the company to explore effective financial improvement measures to facilitate sustainable operations.
