Electricity prices to increase by 3 percent starting April 1

Taipei, The Ministry of Economic Affairs (MOEA) announced Friday that the average cost of electricity is to be increased by 3 percent, raising the current price from NT$2.5488 (US$0.087) per kilowatt hour (kWh) to NT$2.6253, starting April 1.

The decision was made at the first meeting of the ministry’s electricity price review committee this year, with the hope that the increase in price will encourage people and companies to save energy.

The MOEA also decided the raise the thresholds under which the price raise will not apply to households and small businesses.

Therefore, the 3 percent increase will not apply to households that use less than 500 kWh per month or small businesses that use less than 1,500 kWh, which according to the ministry is 10.55 million households and 740,000 businesses.

The increase is expected to push up the consumer price index (CPI) by 0.08 percent, which Deputy Minister Kung Ming-hsin (???) said is only a slight uptick.

The CPI is used to show fluctuations in the cost of living in any given region or country.

The price raise marks the first time electricity prices in Taiwan have been increased since October 2013.

Previous adjustments, the last of which took place before April 2016, have all reduced average electricity prices.

Source: Focus Taiwan News Channel