Taiwan Power Company (Taipower) announced the updated version of its electricity price range chart on March 27. Starting from April 1, the average power price will rise about 3%. However, if one household's usage of residential electricity is less than 500 kWh per month, its power bill is not going to be affected by the new rates.
Ministry of Economic Affairs (MOEA) expressed, the new version of Electricity Act has incorporated the principle of nuclear-free homeland. The fourth nuclear power plant is definitely not going to re-start. The power plant's related construction cost will be spread over several years. If amortization will take nine years, the electricity price per kWh will grow around NT $0.11. Taipower explained, nuclear-free policy will not make price of electricity move up about NT $0.5.
Inside the fourth nuclear power plant, there are still 1,744 nuclear fuel bundles. They are planned to be sent back to the original manufacturer in the US via 8 partial shipments within 3 years. The current site of fourth nuclear plant will be converted to a hybrid power plant park.
Taipower said, the newer version electricity price rate chart will take effect in April. The average price for industrial and commercial electricity will rise 3.46%. The average price of low voltage electricity will grow 3.30%. The average price of high voltage electricity will move up 3.56%. The average price of ultra-high voltage electricity will increase 3.41%.
About 325 thousand businesses will be affected. However, if residential electricity consumption in one household did not surpass 500 kWh, then its rate would not be changed. Regarding small business electricity rate, if power consumption of one small business did not exceed 1,500 kWh per month, then its power price rate would not be changed. According to estimation, about 80% residents are not affected. Major users of residential electricity and users of industrial electricity will pay for the electricity price rise.
Hsu Tsao-hua, Taipower's spokesman, pointed out that Taipower’s adjusted electricity price range is intended to reduce power usage during peak hours. Thus, the growth scale of summer electricity rates will expand.
The major users of industrial electricity's price rate did not increase for the non-peak hours. The point is for them to reduce peak hour electricity consumption. In other words, to move some consumption to non-peak hour.
Hsu explained, after the new chart takes effect, for residential electricity, if a user used 700 kWh per month, then the electricity fee will only increase by NT $33. If a user consumed 1,000 kWh per month, his power bill will only rise by NT $93. If a user used 2,000 kWh per month, his power bill will increase by NT $320.
Taipower emphasized, after the new rates take effect, the price of Taiwan residential electricity will only be higher than that of Mexico. Taiwan residential power price will be the second lowest in the world. As for industrial power, Taiwan power price will be only higher than that of Norway, Sweden, the United States, Luxembourg, Mexico, and Finland, respectively. Taiwan industrial power price will be the 7th lowest globally.