Rising Gas Prices Drive Up Power Costs; Taipower Vows to Prevent Worsening Losses
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Amid rising international energy costs driven by Middle East conflicts, Taipower Chairman Tseng Wen-sheng stated that the company aims to prevent this year's projected loss of NT$28 billion from worsening. Minister of Economic Affairs Kung Ming-hsin said he has requested subsidies for Taipower and CPC Corp. from the Executive Yuan. The decision on a potential October electricity price hike will be made at the September price review meeting based on natural gas prices at that time.