Date: Mar 04, 2016
By: Lauly Li / Staff reporter
National electricity rates are likely to decline due to the falling cost of international crude oil which has lowered Taiwan Power Co’s (Taipower, 台電) power generation costs, the Ministry of Economic Affairs said yesterday.
“The average oil price — about US$51 per barrel in October last year — has dropped to US$40, hence there is room for Taipower to cut electricity rates,” Bureau of Energy Director-General Lin Chuan-neng (林全能) told a news conference.
Lin said the scale of the rate cuts would be decided by an electricity pricing review committee on March 15, with the new rates taking effect on April 1 and running through October. [FULL STORY]