The Ministry of Economic Affairs is scheduled to hold a meeting in March to discuss plans for adjusting energy rates, which could increase power bills for many starting in April.
Premier Chen Chien-jen (陳建仁) told reporters on Tuesday that the costs of energy and raw materials have increased significantly due to the Russo-Ukrainian war. According to the Premier, the adjustment is relatively smaller than in other countries and the state-owned energy provider Taiwan Power Company (Taipower) is essential in stabilizing the consumer price in Taiwan.
Economic Minister Wang Mei-hua (王美花) also says that if Taipower’s accumulated losses are not compensated by government budget allocations or electricity price adjustments, there will be a financial crisis by the end of the year. While everyone hopes for a stable power supply, the ministry also urged across party lines to ensure that Taipower can operate steadily without collapsing.
Wang also assured the public that the majority of the increase will be shared by the energy-heavy industries rather than households.