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Taiwan electricity rates to fall almost 10% this year

Taiwan electricity rates to fall almost 10% this year

Taipei, Sept. 9 (CNA) Households in Taiwan are expected to witness electricity rates fall by almost 10 percent this year after a new electricity price scheme goes into effect in October, according to the Ministry of Economic Affairs (MOEA). Starting from next month, the MOEA will implement the next round of electricity price cuts by 2.33 percent on average, reflecting a plunge in international crude oil prices. By taking into account the last cut implemented in April, the cut in local electricity prices will hit 9.66 percent this year. The almost 10 percent electricity price cut is expected to drag down revenue of state-owned Taiwan Power Co. (Taipower, ??) by about NT$60 billion (US$1.84 billion) a year, the ministry said. The 2.33 percent cut is expected to push down the average electricity price to NT$2.8181 per kilowatt hour (kWh) in October from the current NT$2.8852, the MOEA said. The MOEA has approved the 2.33 percent cut proposed by Taipower but the details about the last reduction need some time to be mapped out. The MOEA is scheduled to review the details of the price cut by Oct. 1. Under the preliminary data for the electricity price cut, for example, households which consume up to 120 kWh a month will see their electricity bills cut to NT$1.84 per kWh from NT$1.89 and households which consume 121-330 kWh a month will enjoy a cut down to NT$2.35 per kWh from NT$2.42, the MOEA said. In addition, households which consume 331-500 kWh per month will have their electricity bills cut to NT$3.21 from NT$3.30 per kWh and households which consume 501-700 kWh a month will witness their bills cut to NT$4.76 from NT$4.90 per kWh. To raise awareness of energy conservation and reductions in carbon emissions, the MOEA said that households which consume 1,000 kWh in electricity per month and small-sized businesses which consume 1,500 kWh per month will not see their electricity bills adjusted. Households, industrial consumers and commercial consumers will see their electricity bills cut to NT$2.7143, NT$2.6601 and NT$3.4908 per kWh, respectively, from NT$2.7790, NT$2.7235 and NT$3.5741, the ministry said. The MOEA said that households which consume 350 kWh in electricity per month are expected to save about NT$23 after the price reduction. (By Lin Meng-ju and Frances Huang)


Updated : 2021-09-29 05:08 GMT+08:00