Taiwan Freezes Household Gas Prices Through Year-End Amid Global Energy Uncertainty

The Taiwanese government has announced plans to freeze household natural gas and liquefied petroleum gas (LPG) prices through the end of the year. The move is part of a proposed NT$180.94 billion supplementary budget aimed at stabilizing energy costs.

The Cabinet approved the Ministry of Economic Affairs' supplementary budget, which includes NT$101.431 billion to help CPC Corp. absorb the cost of holding down fuel and gas price increases. Another NT$71.104 billion will cover Taiwan Power Co.'s energy cost gap through August, while NT$8.4 billion will subsidize LPG in the form of gas cylinders sold by CPC and Formosa Petrochemical Corp.

The government hopes to stabilize electricity prices and allow CPC to increase its capital and strengthen energy and national defense resilience. Deputy Economic Affairs Minister Lai Chien-hsin noted that energy prices have fluctuated since fighting broke out in the Middle East, while CPC has worked to maintain stable oil and gas supplies.