Economics Minister J.W. Kuo (郭智輝) stated on Wednesday that the government is actively working to reduce electricity prices in response to concerns raised by industry leaders.
The statement came after the Taiwan Semiconductor Manufacturing Company (TSMC), the world-leading semiconductor manufacturer, raised concerns over Taiwan’s industrial electricity costs, which have become the highest among all its global facilities due to consecutive price hikes.
Speaking at the Legislature's Economics Committee, Kuo emphasized that the Economics Ministry is committed to lowering energy costs. He outlined plans to purchase electricity from overseas, in line with a growing global trend toward resource sharing. Kuo expressed hope that the current electricity prices represent their peak and reassured the public that the ministry is dedicated to reducing these costs.
Kuo also addressed the prospect of establishing a green energy plant in the Philippines, with the intention of transmitting the generated electricity back to Taiwan. He pointed out that different countries have their own strengths in terms of production factors, and companies controlling strategic resources would hold a competitive edge. Kuo expressed confidence that investing in countries like the Philippines and Japan could be a feasible solution.
Kuo also responded to recent comments from Taiwan Power Company Chairperson Tseng Wen-sheng (曾文生), who suggested possible adjustments to residential electricity rates. Kuo emphasized that any such decisions should be left to the ministry’s Electricity Price Review Committee and cautioned against premature adjustments, as such statements can significantly impact public welfare.