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Global Chip Hub Taiwan to Raise Power Rates on Pricey Fuel

  • Taipower hikes rates by 15% for large industrial users
  • Power sector relies on imports of coal and natural gas
TSMC Headquarters and Museum Ahead of Earnings Results
Photographer: I-Hwa Cheng/Bloomberg
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Taiwan’s industrial sector, including the world’s largest contract chipmaker, will be hit with the island’s first power price increase in four years as the state-owned utility grapples with soaring fuel costs.

About 22,000 large industrial users will pay 15% more for high voltage and ultra-high voltage electricity, the Ministry of Economic Affairs said in a press release. A small number of homes that consume large amounts of electricity will also face a 9% hike on a portion of their usage, the ministry said. The adjustments will take effect July 1.