By: Huang Chiao-wen and Lilian Wu
Taipei, March 15 (CNA) The state-owned Taiwan Power Company (Taipower) announced Tuesday that electricity rates will be cut by 9.56 percent, the largest drop in price ever, starting next month.
The announcement was made following an electricity rate screening committee meeting that was convened by Vice Economic Affairs Minister Shen Jong-chin (沈榮津).
It was decided at the meeting that electricity rates will be cut by 9.56 percent, the biggest cut in the country’s history, with every kilowatt hour cut to NT$2.5488 from NT$2.8181 on average.
Shen noted that the rate reduction mainly reflects a marked drop in international fuel prices. [FULL STORY]