LONGER SUMMER? An economy ministry official said electricity consumption data showed peaks in May, which might be added to the months when rates are higher
Date: Sep 14, 2018
By: Lisa Wang / Staff reporter
The Ministry of Economic Affairs yesterday kept electricity rates unchanged for the next
six months, rejecting a proposal by Taiwan Power Co (Taipower, 台電) for an 8.21 percent hike — despite regulations limiting increases to 3 percent — as the government aims to stabilize consumer prices amid rising global crude oil prices and flooding in the nation’s south last month.
The electricity rate is to stay at NT$2.6253 per kilowatt-hour, Deputy Minister of Economic Affairs Tseng Wen-sheng (曾文生) said at a media briefing after the committee to review electricity prices concluded a 2.5-hour meeting.
“Our main consideration is consumer prices,” Tseng said. “We do not want to see consumer prices following the upswing in global fuel prices.”
Global crude oil prices might pull back later this year, but consumer prices might not follow, because they have less flexibility, Tseng said. [FULL STORY]