Vice Minister of Economic Affairs Hwang Jung-chiou (黃重球) said a priority for Taiwan Power Co (Taipower, 台電) is to renegotiate the terms of contracts with independent power providers after he formally became the state-run utility’s chairman yesterday.
During a handover ceremony, he vowed to reverse the public’s negative sentiment toward the company, but declined to comment on a probe by the Agency Against Corruption on the company’s construction of the Fourth Nuclear Power Plant in Gongliao District (貢寮), New Taipei City (新北市).
The agency yesterday raided the power plant’s construction division and questioned five Taipower officials over the project’s procurements.
Photo: Liao Chen-huei, Taipei Times
Hwang replaced Edward Chen (陳貴明), who resigned on May 5 after six years on the job following widespread complaints of inefficiency and waste at the company.
The complaints were sparked by the company’s planned increased to electricity rates — which will be gradually introduced in three phases beginning on June 10 — as Taipower aims to cut its heavy losses.
“Taking the post of Taipower chairman is not an easy job at this time, but I will face the challenge and turn the crisis into an advantage,” Hwang said.
Taipower, the nation’s largest electricity supplier and monopoly grid operator, incurred net losses of NT$36 billion (US$1.2 billion) in 2010, a 167 percent increase from NT$13 billion in 2009, according to statistics posted on the company’s Web site. The company has accumulated NT$150 billion in net losses as of the end of last month.
Minister of Economic Affairs Shih Yen-shiang (施顏祥), who presided over the ceremony, said Taipower began losing money in 2006 because of rising international oil prices. While the company increased rates in 2006 and 2007, the increases were not enough, he added.
Hwang said Taipower had been under fire because of public misunderstanding of the utility’s operations, but acknowledged that there is room for improvement.
To improve the public’s perception of the company, Hwang said he would ensure full disclosure of information, effective communication with the public and flawless management.
In addition, the company would strictly follow measures proposed by a Ministry of Economic Affairs-organized task force to improve its to overall efficiency, he said. The task force is expected to deliver a report next month.
Hwang said he would also focus on transparency of electricity rates, procurement and fuel costs, and boost the company’s communication with the public, despite the complexities involving power generation and supply.
“I will make the company watch everything it spends, like a household does,” Hwang said, adding that he would enhance employees’ participation in the operations of the utility.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS