Taiwan’s troubled utility poses risk to chipmakers

TAIPEI: The precarious finances of Taiwan’s sole electricity utility are threatening the island’s clean energy ambitions, tarnishing its attractiveness as a manufacturing hub for the world’s biggest chipmakers and even adding to its vulnerability in the event of a conflict with China.

Taiwan Power Co is forecasting another massive loss in 2023 and doesn’t see much of an improvement this year. The state-owned company, known as Taipower, has been unable to fully pass on higher costs for gas and coal to customers due to political pressure to keep power prices low.