Taiwan Hikes Electricity Prices amid Growing Anger

April 12, 2012
Government plans 37% increase to offset soaring energy costs.

Taiwan said April 12 it will raise electricity prices by up to 37% next month to reflect soaring energy costs, sparking anger and warnings about the impact on industry.

An increase of between 29.5% and 37.3% will be imposed on the industrial sector from May 15, according to the finance ministry.

At the same time, a hike of between 16% and 33% will be levied on the commercial sector, and there will be a rise of up to 24% for millions of households.

The price hike is mainly aimed at offsetting huge losses caused to Taiwan's state power supplier Taiwan Power Co. (Taipower) by surging coal, gas and fuel prices.

Taipower has incurred $4.48 billion in losses since 2008, the ministry said.

Economic affairs minister Shih Yen-hsiang said that "after the price hike, Taiwan's electricity prices will remain relatively low compared with those of many Asian countries".

But industry leaders warned that the rise, which comes after a 10% fuel price jump, would cause additional costs to local industry and undermine their competitiveness on the international market.

Taiwan's major opposition Democratic Progressive Party (DPP) has said it will hold a mass protest against the hikes next month, with tens of thousands expected to attend.

Copyright Agence France-Presse, 2012

See Also:

Popular Sponsored Recommendations

Global Supply Chain Readiness Report: The Pandemic and Beyond

Sept. 23, 2022
Jabil and IndustryWeek look into how manufacturers are responding to supply chain woes.

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

How Organizations Connect and Engage with Frontline Workers

June 14, 2023
Nearly 80% of the 2.7 billion workers across manufacturing, construction, healthcare, transportation, agriculture, hospitality, and education are frontline. Learn best practices...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!