Commodities
Taipower Gas Bills Soar as CPC Hikes LNG Prices Again
Natural gas bills for Taiwan Power Co (Taipower) are increasing this month due to a hike in liquefied natural gas (LNG) prices by CPC Corp, Taiwan. The state-run company raised LNG prices for power generators by 9.68% to NT$24.9096 per cubic meter.
CPC attributed the price increase to uncertainty surrounding Middle East LNG supply and rising international prices due to stockpiling in European countries.
The hike adds pressure on Taipower, which reported a pretax loss of NT$20.3 billion for the first eight months due to high fuel costs. The company's accumulated losses stand at NT$371.2 billion.