State-run Taiwan Power Co (Taipower, 台電) posted a loss of NT$24 billion (US$785 million) for the first half of this year, making it the only loss-making entity among four state-run enterprises under the Ministry of Economic Affairs, ministry data showed.
The loss widened from NT$7.1 in the same period last year.
Taipower spokesman Hsu Tsao-hua (徐造華) attributed the loss to higher fuel prices.
In addition, the company increased its electricity output from costly natural gas generators in accordance with the government’s air pollution control and coal-reduction policies, Hsu added.
The other three state-run companies under the ministry are Taiwan Sugar Corp (台糖), Taiwan Water Corp (台灣自來水) and oil refiner CPC Corp, Taiwan (CPC, 中油).
CPC’s pretax profit was NT$29.4 billion in the first six months, compared with NT$17.26 billion in the same period last year, ministry data showed.
CPC vice president Huang Jen-hung (黃仁弘) said that although the government in May started implementing a fuel price stabilization mechanism under which CPC has to absorb part of the increases in domestic fuel prices, the company saw its profits increase thanks to price increases for international oil and other petrochemical products.
The company has also been free of accidents this year, leading to no suspension in operations, Huang said, adding that output has been smooth so far.
Benefiting from a land disposal, Taiwan Sugar posted a pretax profit of NT$3.3 billion in the first half, but the figure was still NT$268 million lower from a year earlier, the data showed.
Taiwan Water’s pretax profit was NT$222 million in the first six months, down by more than 60 percent from NT$576 million in the same period last year, due to an increase in power, repair and material costs, ministry data showed.
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