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Taipower to raise electricity rates for heavy users
The Ministry of Economic Affairs says Taiwan Power Company (Taipower) will be raising electricity rates for industrial users from 16 October. The move increases electricity rates for industrial users by an average of 12.5%.
Taipower had asked for an increase of 14%, but the ministry's electricity price review committee says it opted for a lower percentage to help Taiwan businesses stay competitive.
It's the second electricity rate hike this year and is part of government efforts to shore-up Taipower's finances. The company continues to supply electricity at a loss to reduce the impact of high energy prices on the public.
The economics ministry says Taipower's debt ratio stands at 93% and the company posted an accumulated deficit of NT$434.8 billion as of 31 July.
The central government has said it plans to inject NT$100 billion into the state generator as part of its 2025 budget. The funding is still waiting for legislative approval.
