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Electricity prices to drop 7.34% beginning in April: officials

Electricity prices to drop 7.34% beginning in April: officials

Taipei, March 20 (CNA) Taiwan's electricity rates will drop some 7.34 percent beginning in April, with the price for 1 kilowatt hour of power to be set at NT$2.8852, down from the current NT$3.1139, the Committee on Electricity Rates said on Friday. As a result, a small business consuming 330 kWh a month or less could save NT$219 (US$6.97), or 20.3 percent, on its bill, and those consuming 500 kWh a month could save NT$293, or 16.7 percent, Vice Economics Minister Shen Jong-chin (???) said. The committee made the decision in a meeting held Friday to cut rates. Shen is a member of the committee. As for residential customers, a 4-person family consuming 400 kWh a month could save NT$105 in the non-summer seasons, while those consuming 500 kWh a month during the summer (June to September) could save NT$139 a month, Taiwan Power Co. (Taipower) President Chu Wen-chen (???) said. The electricity rates of 1 kWh for housing, industry and commerce will be NT$ 2.779, NT$2.7235 and NT$3.5741, down by 7.55 percent, 7.31 percent and 7.36 percent, respectively, according to the committee's decision. It also set Taipower's "reasonable profit" -- or the maximum amount of profit it is allowed to make -- to 5 percent of its revenue every year. That means its profit for 2015 could reach NT$17.167 billion (US$546.05 million). Its electricity rates will be adjusted accordingly, meaning if its profit is higher than the prescribed 5 percent, electricity rates will be adjusted down. The next committee meeting on adjusting electricity rates will be held in October. The Committee on Electricity Rates is comprised of 18 members, nine scholars, five government officials, two representatives from the commerce and industry sectors and two representatives of consumers. (By Huang Chiao-wen, Milly Lin and Kuo Chung-han)


Updated : 2021-08-01 21:38 GMT+08:00