TAIPEI (Taiwan News) — CPC Corp. said Saturday it will raise industrial natural gas prices by an average of 5% in June, while leaving rates unchanged for households, power generators, and liquid petroleum gas users.
The state-run energy supplier said geopolitical risks in the Middle East continue to affect energy prices, per Liberty Times. Industrial users will be the only customer segment facing higher rates next month.
CPC said it has absorbed more than NT$140 billion (US$4.45 billion) in industrial natural gas costs over the past six years. Under its pricing formula, industrial rates would need to rise by more than 50%, but the company opted for a smaller increase after considering industry affordability and the need to reflect procurement costs.
Natural gas prices for power generation will remain unchanged in June after sharp increases over the previous two months. CPC raised rates for power producers by 41.58% in April and 9.34% in May, saying those adjustments had already largely reflected higher fuel costs.
Residential natural gas prices will also remain frozen to support households and help stabilize consumer prices. CPC said it will continue absorbing the difference between regulated rates and procurement costs.
CPC said it had absorbed about NT$4.2 billion in LPG-related costs through the end of April to help ease pressure on households and the food-service sector, per CNA.
