TAIPEI: Taiwan will increase electricity prices simply by an average of 8. 4 per cent starting from Jul 1 (Friday) according to rising global power prices including the 15 per cent raise for large industrial users, the economic climate ministry said upon Monday.
However , prices is not going to increase for ninety-seven per cent of families, the ministry additional, following a review of electricity pricing.
The government has been trying to consist of price rises across the board for consumers to help limit the impact of pumpiing, including for power.
Taiwan’s state refiner, CPC Corp, has been keeping gas and natural gas prices artificially low intended for consumers despite costs of the raw materials increasing globally.
That has generated large losses for both COST-PER-CLICK Corp and state-run power utility Taipower.
Taipower is usually expected to see the fuel costs raise by T$300 billion (US$10. 13 billion) this year, the economy ministry said.
Speaking on Mon before the announcement, economy minister Wang Mei-hua said Taiwan’s energy prices for customers were already among the lowest in the world.
Analysts at Taiwan’s Cathay Financial Holding said earlier on Mon that a 5 in order to 8 per cent within electricity prices can add another 0. 2 to 0. 4 per cent towards the consumer price catalog this year, though have got only a very gentle impact on overall financial growth.
Learning much more on: https://www.channelnewsasia.com/business/taiwan-electricity-prices-84-cent-rise-energy-2773136
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