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Households, businesses to receive power bill discounts next year

Households, businesses to receive power bill discounts next year

Taipei, Dec. 30 (CNA) More than 11 million households and small businesses in Taiwan will receive a discount of NT$800 (US$25.08) on their electricity bills next year as the state-run power company returns extra earnings to the public, the Economics Ministry announced Tuesday. Users can expect to see their bills cut Jan. 6 at the earliest, which will leave about 30 percent of all 11.73 million customers to receive the discounts with an electricity cost of zero dollars on their first bill in the New Year, said Economics Minister John C.C. Deng. State-run Taiwan Power Co. is returning some NT$9.4 billion that it saved from fuel this year due to recent falls in global oil and coal prices, the minister said at a press conference. Manufacturers and big enterprises are excluded from the policy.
As for the households and small businesses that will see money cut off their bills, 87 percent can expect to see it before the Lunar New Year on Feb. 18. Meanwhile, the Legislative Yuan is set to review a new formula for calculating electricity rates Wednesday, which Taipower has devised following criticisms that the current one fails to account for fluctuations in fuel prices in a timely manner. The loss-plagued company has been under pressure to return parts of the NT$20 billion it made in overall profit this year to the public, partly due to an unpopular policy by the Ma Ying-jeou administration to hike electricity rates in 2012. The hikes were put in place to help pull Taipower out of the red, but drew complaints that they pushed prices higher at a time when wages in Taiwan remain stagnant. Taipower has said it hoped the adjustments will help Taipower secure a minimum profit of NT$20 billion a year to cover more than NT$200 billion in losses accumulated over the years, as well as future investments. (By Huang Chiao-wen, Milly Lin and Scully Hsiao)


Updated : 2021-04-17 20:47 GMT+08:00