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Taipower plans to build 3rd receiving station to cut costs

TAIPEI -- Taiwan Power Company (Taipower) is planning to build a third receiving station in an attempt to reduce its energy generation costs, Chu Wen-chen, president of the state run company, said Tuesday.

Chu noted that total costs of power generation have risen sharply as a result of increasing fuel prices, prompting Taipower to bring the plan forward.

As of the end of November, Taipower had suffered a cumulative loss of NT$13.5 billion (US$449 million) for the year and its loss in December is estimated to reach NT$3.6 billion. If the cumulative loss of NT$193.1 billion it has incurred since 2003 is added, the total loss would reach NT$210.2 billion, Chu said, citing Taipower statistics.

The cost of purchasing fuel for power generation accounts for nearly 70 percent of the company's annual electricity revenue of around NT$500 billion. The company spends approximately NT$50 billion-NT$60 billion per year to generate coal-fired power, while NT$300 billion is used to purchase natural gas from state-run oil refiner CPC Corp.

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