Taiwan Cogeneration : Clarification on recent media report

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Provided by: Taiwan Cogeneration Corporation
SEQ_NO	1	Date of announcement	2022/06/24	Time of announcement	17:40:03
Subject	Clarification on recent media report
Date of events	2022/06/24	To which item it meets	paragraph 51
Statement	1.Date of occurrence of the event:2022/06/24 2.Company name:Taiwan Cogeneration Corporation 3.Relationship with the Company (please enter "the company itself" or "subsidiaries"):the company itself 4.Reciprocal shareholding percentage:NA 5.Name of the reporting media: Commercial Times 6.Content of the report:The report stated that 9 IPPs were fined 6.007 billion NTD and were finalized. 7.Cause of occurrence: The media reported that the Supreme Administrative Court ruled that 9 IPPs jointly refused to negotiate with Taipower to adjust the electricity purchase and sales rates. In 2013, the Fair Trade Commission ruled that the "concerted action". The whole case was confirmed. A fine of 6.007 billion NTD must be paid. The IPP resisted fines and litigated for nine years, and finally reversed and lost. 8.Countermeasures: The IPP companies (Star Power, Sun Ba power, Star Buck Power and Kuo Kuang Power) invested by the Company mentioned in the report have not officially received the judgment; however, if the said companies lose the case, they will discuss with their attorneys the follow-up response and administrative remedy measures. The penalty amount is estimated to affect the Company's profit by about 540 million NTD according to the shareholding ratio. However, the amount of the penalty can still go through the appeal process to obtain favorable results. The Company will pay close attention to the follow-up progress in order to protect the Company's rights and interests. 9.Any other matters that need to be specified: The company's shareholding in Star Power, Sun Ba power, Star Buck Power and Kuo Kuang Power are 40.5%, 43%, 41.27% and 35%, respectively.