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Electricity rates to be cut by 9.56%, biggest drop ever

2016/03/15 22:02:06

Taipei, March 15 (CNA) The state-owned Taiwan Power Company (Taipower) announced Tuesday that electricity rates will be cut by 9.56 percent, the largest drop in price ever, starting next month.

The announcement was made following an electricity rate screening committee meeting that was convened by Vice Economic Affairs Minister Shen Jong-chin (沈榮津).

It was decided at the meeting that electricity rates will be cut by 9.56 percent, the biggest cut in the country's history, with every kilowatt hour cut to NT$2.5488 from NT$2.8181 on average.

Shen noted that the rate reduction mainly reflects a marked drop in international fuel prices.

Electricity rates after the cut will be even lower than the NT$2.6001 per kWh in 2011, one year before double hikes of fuel and electricity rates that pushed up commodity prices and invited complaints from the general public.

According to Taipower, after the cuts, an average family that uses 330 kWh of electricity monthly will save NT$80 per month on its electricity bill.

Big business users such as department stores that use 9,600 kWh will save NT$3,378 per month, while industrial users that use an average of around 1.5 million kWh per month will save nearly NT$400,000.

(By Huang Chiao-wen and Lilian Wu)