Taiwan’s Sole Power Utility Racks Up Second Year of Losses

Taiwan’s sole power utility reported major losses for a second consecutive year on rising fuel costs triggered by Russia’s invasion of Ukraine and high inflation.

Taiwan Power Co. reported a pre-tax loss of NT$198.5 billion ($6.3 billion) in 2023, following an even greater shortfall in 2022, according to the financial statements on its website. The losses in 2023 came despite a capital injection of NT$150 billion plus a subsidy of NT$50 billion from the government that year. Taipower forecasts another loss of NT$188.7 billion this year.