News
POWER UTILITY, PROJECT | Staff Reporter, Taiwan
view(s)

Taipower losses extend to $955m in H1

Rising fuel prices and anti-pollution initiatives have driven up energy production costs.

Taiwan Power Corporation (Taipower) has witnessed its losses escalate over the past year, losing up to $955m (NT$29.7b) in H1 2019, or $180m more than the $771m (NT$24b) loss it incurred in H1 2018, Taiwan News reports.

According to spokesperson, the negative trend was due to a combination of factors, such as rising fuel prices and government anti-pollution measures which made energy production more expensive. They added electricity prices only rose once in 2018 by 3%, whilst they have remained frozen YTD.

Looking ahead to H2 2019, Taipower expects its situation to ameliorate due to summer rates for electricity.

Meanwhile, state-owned petrochemicals firm CPC Corporation has reportedly made $910m (NT$28.3b) in pre-tax profits over H1 2019 amidst relatively stable international oil prices.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.