Economics Ministry mulling floating electricity rates
Central News Agency
2014-08-30 09:59 PM
Taipei, Aug. 30 (CNA) Taiwan's new economics minister said Saturday that his ministry will consider a floating electricity rate in the future so that the prices can be more flexible and meet the market. Following his earlier promise in an interview with CNA that he will not raise electricity rates anytime this year or next, Economics Minister Duh Tyzz-jiun said on local network GTV that when that time comes, his ministry aims to implement a floating rate mechanism which would be adjusted every 6-12 months. "The public will feel less of a burden if we adopt a floating rate mechanism," said Duh, who assumed his post on Aug. 10. "Any adjustment will not impact average or disadvantaged households," he promised. Looking ahead to the tightening electricity supply as old plants are decommissioned and the uncertainty over when or even if the fourth nuclear power plant will begin commercial operations, Duh said that Taiwan will likely face electricity rationing by 2021. During the interview, the minister also reiterated the importance of trade pacts with China, saying that the main purpose of cross-strait agreements on trade in services and goods is to "let Taiwan walk out into the world." Warming ties across the strait will help Taiwan sign trade agreements with other countries, he said. (By James Lee)
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