Trade groups and academics yesterday expressed dismay at state-owned Taiwan Power Co’s (Taipower, 台電) electricity rate hikes, saying the drastic rise would make conducting business in Taiwan difficult and put pressure on corporate profitability amid rising economic uncertainty.
Taipower on Monday said that it would raise electricity rates by an average of 8.4 percent starting on Friday. The hike is to reach 15 percent for large industrial users, to reflect soaring international energy prices.
Lin Por-fong (林伯豐), chairman of the Third Wednesday Club, a trade group whose membership is limited to the top 100 firms in individual business sectors, said the rate