Raw material procurement accounts for 70 percent of the utility’s cost, the ministry said, adding that last year, electricity cost an average of NT$2.82 per kilowatt-hour, but was sold at NT$2.6, which led to a loss of NT$4.37 billion that year.
The 10 percent rise in gas prices and the original plan to increase electricity prices had led the government to revise its previous economic growth forecast downward by 0.47 percentage points to 3.38 percent for this year and to say it expected the consumer price index to increase by 1.94 percent this year, not the 1.48 percent it projected in February.
This story has been updated since it was originally published.
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