Taiwan's Minister of Economic Affairs opposes increase in electricity prices

The minister expressed confidence that the country's power supply will remain sufficient from 2019 to 2025

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Minister of Economic Affairs Shen Jong-chin attends a Legislative Yuan session on Mar. 4 (Source: CNA)

Minister of Economic Affairs Shen Jong-chin attends a Legislative Yuan session on Mar. 4 (Source: CNA)

TAIPEI (Taiwan News) — Minister of Economic Affairs Shen Jong-chin (沈榮津) said Monday he is not inclined to advise increasing current electricity prices, but the ministry will respect the final decision made by a review committee later this month.

The Ministry of Economic Affairs reviews electricity prices twice a year, with a committee meeting held to determine wether there will be adjustments to electricity prices. The next meeting is scheduled at the end of March.

Speaking before a Legislative Yuan session on Monday, Shen said the ministry will express its stance in the meeting that it is not inclined to raise the current electricity prices, since the global oil price has remained stable this year compared to last year, reported the Central News Agency.

The minister expressed confidence that the power supply in the country from 2019 to 2025 will remain sufficient, with the yearly and daily operating electricity reserve margin staying respectively around 15 percent and 10 percent.

Shen denied reports suggesting that the ministry’s position is influenced by political considerations. As the presidential election is due next January, any government policy affecting citizens’ daily lives is likely to cause implications for the ruling Democratic Progressive Party's vote.

Shen added that the ministry will respect the final decision made by the review committee on the matter.