At the Cabinet's weekly meeting Thursday, Premier Cho Jung-tai received a Ministry of Economic Affairs (MOEA) briefing on a supplementary budget bill aimed at stabilizing energy prices under CPC Corporation, Taiwan (CPC) and Taiwan Power Company (Taipower) in response to conflict in the Middle East. The premier said global oil and gas supplies have declined sharply since the outbreak of conflict in the Middle East. He noted that CPC, Taipower and related petroleum companies have implemented measures to stabilize fuel, electricity and liquefied petroleum gas (LPG) prices in coordination with the government's policies to safeguard people's livelihoods. Against this backdrop, subsidies under the proposed supplementary budget are both necessary and justified.
Premier Cho pointed out that, amid fluctuations in international oil and gas prices, governments around the world have commonly utilized oil and gas subsidies as a means of stabilizing prices. Asian countries such as Japan, South Korea, Indonesia and Thailand have also capped retail prices to maintain affordability for consumers, with the resulting price differences absorbed by businesses or covered by budgetary subsidies. The 2026 supplementary budget bill drafted by the MOEA allocates a total of NT$180.935 billion (approximately US$5.7 billion) in subsidies to CPC, Taipower and related petroleum companies. The bill also includes a capital injection of NT$233.834 billion (approx. US$7.3 billion) into CPC to alleviate its financial pressures, enhance the resilience of the domestic natural gas supply, and ensure the continued stable supply of essential goods to the public.
Premier Cho stressed that ensuring the steady operation of CPC, Taipower and related businesses is crucial to enhancing energy resilience and maintaining stable consumer prices. The Executive Yuan will seek the Legislative Yuan's support for the supplementary budget and hopes to secure its third and final reading by the end of November, so that subsequent administrative operations can proceed smoothly.