The first meeting of the Electricity Tariff Examination Council in 2017 was convened today and presided by the Deputy Minister of Economic Affairs (MOEA), Mr. Jong-chin Shen. It is held to examine the costs and profit margins in 2016 annual accounting statement of Taiwan Power Company (Taipower). The resolution was adopted that in 2016 Taipower would disburse NTD 50.15 billion to the Electricity Price Stabilization Fund.
Following the electricity price formula confirmed by the Legislative Yuan on January 20, 2015, the Electricity Tariff Examination Council was established by MOEA for reviewing electricity prices. Up to 2017, the professional mechanism has been practiced for two years. In accordance with the Electricity Act promulgated by presidential order on January 26, 2017, the competent central government authorities may convene a meeting to examine the tariff rates and calculation formulas for retail utilities and electric transmission and distribution utilities. In addition, the annual adjusted after-tax earnings exceeding reasonable profit margins for retail utilities and the installation fees for connection to electricity networks for electric transmission and distribution utilities shall also be examined in the meeting.
The Council following the new Electricity Act is made up of seventeen members including scholars, experts, representatives from industrial, commercial and private sectors and relevant government agencies. The convener is Deputy Minister of Economic Affairs (MOEA), Mr. Jong-chin Shen. At this meeting, the duties, examination procedures, planned schedules and related agenda were displayed for the furtherance of future Council meetings.
Besides, Taipower presented the key values in 2016 annual accounting statement including sales revenue, and the differences between the actual costs and the forecasted costs for the second half of 2016. The MOEA stated that the resolution was adopted with professional examination and consideration by all the Council members.
The MOEA added that, all of information discussed during the meeting will be posted on the website within 10 days for full disclosure. From March 20, 2017, more information can be reviewed at https://www3.moeaboe.gov.tw/ele102/. The public may also refer to the homepage of the Bureau of Energy for the electricity tariff rates and Taipower's costs examined in the Council meeting.
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