Taiwan Power was established in the year 1st May 1946. The
Taiwan Power (Taipower) company took over all the facilities of power in Taiwan.
Taiwan Power company was registered under the government in the year 1950 (December 14). Ministry of Economic Affairs issued the company's license in 1951. The functions of
Taiwan Power Company are as follows:
- Power supply
- Power development
- Investment in power- related businesses
On 21st September 1998, in the Stock holder's meeting the company's capital adjustment from NT $ 300 billion to NT $ 400 billion was passed. By the end of the year 2006 the total assets of
Taiwan Power reached NT $ 1.4 trillion and capital NT $ 330 billion. The chairman of the company is Hwang Ing-san. Edward K.M. Chen is the President of
Taiwan Power Company. C.Y Shin is the director of the organization.
Taiwan Power (Taipower) generates about 36,120 MV of power. The
Taiwan Power Company generates power for more than 11.5 million industrial, residential, commercial consumers. The government of Taiwan has already announced to privatize
Taipower.
The government of Taiwan encourages the use of renewable source of energy like wind, biomass, solar energy for generating power in the country. The government expects that these sources of energy will increase 10% of the power generating capacity by the year 2010. Taiwan's power sector has been dominated by
Taipower. The monopoly status of
Taipower ended in 1994 when a resolution was taken that Independent Power Producers will contribute 20% of Taiwan’s electricity. Due to the increasing demand for power the government of Taiwan is looking for a planned privatization. Another reason is Taipower's inability of meet the power requirements in the peak summer months.
Taiwan Power (Taipower) has been meeting the power requirements of Taiwan since 1946.
