Taiwan power outage caused losses to 151 firms

  • Business
  • Friday, 18 Aug 2017

TAIPEI: Taiwan’s massive power blackout on Tuesday resulted in about US$3mil worth of losses for 151 companies in industrial parks and export processing zones on the island, the economics ministry said.

The government plans to release a figure for the overall economic cost of the blackout in the next few days, a ministry spokesman said.

The five-hour long blackout caused estimated losses of NT$87.47 million (US$2.89mil) and affected millions of homes as well as offices and companies.

The outage prompted an apology from President Tsai Ing-wen.

Advanced Semiconductor Engineering told Reuters the power outage resulted in a preliminary estimate of US$500,000 to US$800,000 worth of losses for the company.

However, the company does not expect the losses to have an impact on its August revenues as it plans to undergo overtime work to compensate, a company spokesman pointed out.

The blackout was caused by “structural problems” and human error involving the replacement of equipment at state-owned gas supplier CPC Corp, which ultimately affected the operations of a power plant owned by state-run Taiwan Power Co, CPC Corp said.

The misstep caused six generators at the plant to stop working. — Reuters

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