ACCOUNTING NEEDS: The economics ministry did not lower electricity rates, despite falling oil prices, because it needs to replenish a fund to decommission nuclear plants
Date: Sep 15, 2020
By: Angelica Oung / Staff reporter
Electricity rates have not been altered in the four meetings since September 2018, and the committee decided to keep the rates unchanged until March 31 next year, before it holds its next twice-yearly meeting, the ministry said.
Saying that price stability is the overriding consideration of the committee, Deputy Minister of Economic Affairs Tseng Wen-sheng (曾文生) told reporters at a news conference that the body opted not to lower electricity prices, despite slumping crude oil prices.
“While oil prices have fallen considerably, the US Energy Information Administration expects crude oil prices to rise to US$50 a barrel in 2021, compared with US$42 a barrel this year,” Tseng said. [FULL STORY]