LOW COSTS: The electricity review committee rejected Taipower’s proposal to raise power prices by 6.48 percent and denied speculation that the decision was political
Date: Mar 19, 2019
By: Lisa Wang / Staff reporter
Deputy Minister of Economic Affairs Tseng Wen-sheng, left, and Taipower Co president
Chung Bin-li speak at a news conference in Taipei yesterday.
The Ministry of Economic Affairs yesterday said it would freeze electricity prices for another six months, as it expects falling crude and coal prices to help reduce power generation costs.
The ministry said it sees only a slim chance of power prices increasing in the second half of this year, as a wobbling global economy might reduce fuel consumption and keep prices in check.
“The electricity review committee concluded its [twice-yearly] meeting by keeping electricity rates unchanged, as fuel prices are to trend down in the longer term,” Deputy Minister of Economic Affairs Tseng Wen-sheng (曾文生) told a media briefing in Taipei.
“Fuel costs play a major role in the electricity price adjustment mechanism,” Tseng said.