Business groups urge cross-party support for Taipower NT$100 billion plan

Taipei, May 15 (CNA) Eight major business groups on Thursday urged all political parties to support a government plan to allocate NT$100 billion (US$3.31 billion) to state-run Taiwan Power Co. (Taipower).

The funding would help stabilize electricity rates and ease pressure on businesses facing U.S. tariffs and exchange rate fluctuations, the groups said in a joint statement.

The business groups said the NT$100 billion budget for Taipower would protect industrial development and serve the public interest.

The funding would not only ease financial pressure on businesses but also help prevent fluctuations in commodity prices, they further explained.

They also urged the government to supervise Taipower to ensure a stable power supply and develop diversified energy strategies.

Continued heavy losses at Taipower could impact national and industrial economic development, they said.

In late April, the Cabinet proposed a NT$410 billion special bill in response to U.S. President Donald Trump's reciprocal tariff policy. It included injecting NT$100 billion into Taipower to cover its operating losses from the past three years, but it was rejected by the main opposition Kuomintang.

Fu Kun-chi, the KMT caucus whip, suggested at the time that subsidies for Taipower could be proposed separately through a standard supplementary budget or another process.

The eight major business groups are the Chinese National Federation of Industries, the General Chamber of Commerce of the Republic of China, the Chinese National Association of Industry and Commerce, Taiwan, the National Association of Small & Medium Enterprises, the Manufacturers United General Association of Industrial Park of ROC, the Taiwan Electrical and Electronic Manufacturers' Association, the Taiwan Federation of Industry and the Taiwan Chamber of Commerce and Industry.