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Taiwan leaves electricity rates unchanged for record 7th time

Current prices stay in force until at least March 2022

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Electricity rates will remain unchanged until at least March 2022. 

Electricity rates will remain unchanged until at least March 2022.  (CNA photo)

TAIPEI (Taiwan News) — Electricity rates will remain unchanged until March 2022 in a record seventh consecutive freeze due to the COVID-19 pandemic, the government announced Thursday (Sept. 23).

The average price will stay at NT$2.6253 (US$0.09) per kilowatt-hour for the period from Oct. 2021 until March 2022, CNA reported. The Legislative Yuan approved a new formula to calculate the rate in 2015, but the most recent rise was recorded in early 2018.

The Ministry of Economic Affairs (MOEA) convenes a pricing review committee twice a year to decide whether to adopt electricity rates, with 3% set as the maximum range for a hike.

The latest decision was seen as a way of helping consumers withstand the impact of the COVID-19 pandemic, reports said.