Taiwan's Agriculture Faces Rising Electricity Costs: Government Pledges Support

Agricultural Sector Receives Over $75 Million in Subsidies Amidst Potential Price Hikes.

As Taiwan prepares for the upcoming electricity price review, the Minister of Agriculture, Chen Chun-chi (陳駿季), has announced the government's commitment to supporting the agricultural sector in the face of potential rising electricity costs. The Electricity Price Review Committee is scheduled to convene before the end of March to deliberate on the matter.

Minister Chen confirmed that the Ministry of Agriculture has already allocated NT$2.426 billion (approximately USD $75.8 million) to subsidize electricity expenses this year. The policy of compensating for the difference in electricity costs for the agricultural sector will remain unchanged. Furthermore, if agricultural electricity prices increase again this year, the Ministry will seek additional funding from the Executive Yuan through a special project.

The adjustment of electricity prices by Taipower, due to operational losses, led to the cancellation of preferential electricity rates for institutions like schools and the agricultural sector last year. Consequently, relevant authorities are now tasked with allocating budgets to stabilize electricity prices. The Ministry of Agriculture has dedicated NT$2.426 billion to cover the differential in electricity costs for the current year, with plans to allocate similar amounts annually in the future.