Taiwan Power Company (Taipower) held its handover ceremony between the outgoing and incoming Chairmen and Presidents of Taipower today (8th). Wen-Sheng Tseng, the Deputy Minister of Economic Affairs will act as Taipower Chairman, and Yao-Ting Wang, the Vice President of Taipower, has taken over the post of Taipower president. The newly appointed acting Chairman, Wen-Sheng Tseng, stated that after he and Wang assume office, they will take responsibility for and bolster the resilience of the power system in Taiwan, enhance risk control, accelerate the promotion of grid resilience construction with over 27,000 Taipower staff members. They will fully implement these goals and respond to society's ardent expectations of a stable power supply.

The handover ceremony between the outgoing and incoming Chairmen and Presidents was held in the Taipower Office Building auditorium this afternoon. The handover ceremony was monitored by Chern-Chyi Chen, the Deputy Minister of Economic Affairs. After the outgoing Chairman Wei-Fuu Yang and the outgoing President Bin-Li Chung left office, Wen-Sheng Tseng, the Deputy Minister of Economic Affairs, will take over as Taipower's acting chair, and Yao-Ting Wang, Taipower's deputy president, will serve as Taipower president.

• The handover ceremony between the outgoing and incoming Chairmen and Presidents was held today. Witnessed by Chern-Chyi Chen (2nd from right), Deputy Minister of Economic Affairs, Taipower Chairman Wei-Fuu Yang (2nd from left) handed over his position to Wen-Sheng Tseng (1st from right), the Deputy Minister of Economic Affairs, who serves as the newly appointed acting Chairman.

• The handover ceremony between the outgoing and incoming Chairmen and Presidents was held today. Witnessed by Chern-Chyi Chen (2nd from right), Deputy Minister of Economic Affairs, Taipower President Bin-Li Chung (2nd from left) handed over his position to Yao-Ting Wang (1st from right), Vice President of Taipower, who serves as the newly appointed President.

The newly appointed acting Chairman, Wen-Sheng Tseng, delivered a speech stating that he was born in a Taipower family. The society's expectation of Taipower transmitting stable power to users has never changed. The March 3 nationwide power failure has led to Taipower's failure to meet society's expectations. After he assumes office, he will take responsibility and work hard with all Taipower staff members. Additionally, he will be immediately involved in the four core tasks of grid adjustment, personnel improvement, the establishment of an independent risk management department, and the implementation of risk check-ups for the Taipower system carried out by power industry experts.

The newly appointed president, Yao-Ting Wang, stated that the power industry shoulders the important mission of the national economy's stable growth. Therefore, Taipower has to implement it earlier and better than others. It is Taipower's pressure and mission to take responsibility. After he takes over the position, he will face the stable power supply challenge and work hard with Taipower staff members to regain people's trust in Taipower.

Taipower indicated that Chairman Wei-Fuu Yang, who left office today had taken over the post on October 30, 2017. During his over-four-year tenure, he had been working hard to create a stable power supply. The installed capacity of operating power generators during this period reached 12.4GW (including private electricity generators). 17.6GW of electricity has been approved, and is under construction in the power generation project, totaling 30GW. The power supply capacity of the current power system has been elevated to 50GW. During his tenure of office, Wei-Fuu Yang actively implemented the government's energy transformation policy, and accelerated natural gas increase and coal reduction which is both for the purpose of stable power supply and environmental protection. Moreover, he led Taipower to develop offshore wind power and he raised the grid connection amount of renewable energy to a record high during his period in office as well.

President Bin-Li Chung joined Taipower in 1979, working his way up from when he was an entry-level employee. At the end of 2010, he served as the Director of Office of Power Generation to be in charge of 22 hydro-power plants and thermal-powered plants. On September 2, 2016, Mr. Chung took over the post of Taipower President from his original posts of Vice President and CEO of the Hydro-power and Thermal Power Business Department to command Taipower's eight systems, leading nearly 27,000 employees. He has worked for Taipower for over four decades.

Taipower stresses that after the newly appointed Chairman and President assume office, they will propose the complete project of resiliency construction for electrical grids including the promotion of a dispersed grid construction as soon as possible. Additionally, Taipower will adopt a dual system of nationwide financing and regional resilience for the electrical grid framework to ensure stable power supply to meet the society's core expectations.

Spokesperson: Ting-Shu Chang, Professional General Manager

Tel No.: (02)2366-6271/0936-625-552

Email：u742433@taipower.com.tw