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Taipower turns NT$3.9 billion net profit in August: Chairman Huang

The China Post--Taiwan Power Company (Taipower, 台灣電力公司) Chairman Huang Jung-chiou (黃重球) stated yesterday that the company has turned a net profit of NT$3.9 billion in August.

The company also expected to profit NT$1 billion in September.

Amid pressure from legislators, Economic Minister Shih Yen-shiang (施顏祥) stated yesterday that his ministry will carefully assess whether to halt the second power hikes scheduled in December.

Huang said that the number of days of high temperature are fewer than that of last year. Furthermore, citizens in Taiwan make more efforts to save electricity, and as a result, Taipower does not need to use less cost-efficient coal-fired power plants to generate power.

According to Taipower, despite the profit in August, from January through August, the company suffered losses of NT$74.2 billion, pushing total losses to NT$192 billion. Taipower expects that it will incur losses of NT$80 billion in 2012, which means that total losses will reach NT$200 billion by the end of this year. Commenting on the expected rise of power repurchase costs in 2013, the chairman stated that the rise will be caused by rising fuel costs and scheduled maintenance of power plants, which will obligate the company to adjust prices to repurchase electricity as stipulated in contracts.

Bills of 60.3 Percent of Households Unchanged

The data of Taipower shows that 6.95 million households — 60.3 percent of total households — consumed less than 330 kilowatts of electricity in August. The electricity bills of these households were not affected by the increasing power rates.

Huang stated that if a household consumes less than 330 kilowatts a month, the household does not need to pay more money on electricity even after the power hikes scheduled on Dec. 10.

Households consumed an average of 724 kilowatts of electricity in August, which is 27 kilowatts lower than that of August 2011. This means in August a household on average spent NT$118 less on electricity compared to the same period last year.

Huang stated that this is because people used less electricity, the weather in August was not as hot as last year and the government subsidized those who consumed less electricity than before.

As for small businesses, owners on average consumed 3191 kilowatts of electricity in August, 53 kilowatts more than that of last year. In other words, business owners spent NT$1364 more on electricity on average.

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