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Taipower aims for break-even in 2024
Taiwan Power Company (Taipower) announced its goal to break even this year if the Legislative Yuan approves a NT$100 billion subsidy.
At the annual shareholders meeting yesterday Chairman Tseng Wen-sheng stated that the company will explore a buyback of public shares and estimate various price scenarios for the Ministry of Economic Affairs.
Due to policy burdens, including preferential electricity rates and insufficient price adjustments Taipower faced a NT$235 billion impact last year.
A spokesperson noted that projected losses for this year could be offset by the subsidy, a NT$60 billion increase in electricity prices, and fuel cost reductions.
Tseng emphasized that any government subsidy to Taipower benefits the entire population. The company has not distributed dividends for 19 years and will prioritize addressing losses before considering future dividends.
