By: Lin Meng-ju and Y.F. Low
Taipei, July 11 (CNA) State-run Taiwan Power Co. (Taipower) is likely to lower the country’s electricity rates in October due to its good profitability in the first half of this year, a Taipower source said Saturday.
According to Taipower, the company made a profit of NT$6.5 billion (US$209.5 million) in the first half of this year, thanks mainly to a price drop of natural gas.
Taipower President Chu Wen-chen (朱文成), however, said that the company has had to use more expensive light diesel oil to generate power because the No. 1 reactor at the first nuclear power plant has been out of service since December and private power plants have experienced several accidents.
These factors have offset the decline in natural gas prices, Chu said. [FULL STORY]