Household, industrial gas prices unchanged; utilities face 9.34% increase

Taipei, April 30 (CNA) State-run CPC Corp., Taiwan said Thursday that natural gas prices for domestic and industrial users will remain unchanged in May, while gas prices for utility users will rise 9.34 percent to reflect higher import costs.

CPC said global spot prices for liquefied natural gas (LNG) remain elevated, increasing import costs. However, under the government's price stabilization policy, the company will absorb the increases for households, commercial businesses and the service sector.

Industrial gas prices will also stay unchanged, taking into account domestic pricing conditions, the broader economic environment and industries' ability to absorb higher costs, CPC said.

The company said it has absorbed a cumulative NT$138 billion (US$4.36 billion) in costs for industrial users since March.

CPC added it has secured sufficient LNG supply through advance procurement, cargo swaps and spot purchases.

It said it will continue to monitor global gas market trends and balance operational stability with the government's price stabilization policy when setting future prices.