--- title: "Coal merchants owe 4.5 billion yuan but still receive new contracts from Taipower. Taipower: International arbitration has been initiated" type: "News" locale: "en" url: "https://longbridge.com/en/news/295891379.md" description: "Taiwan Power Company explained the controversy over coal procurement, stating that HVO was listed as a rejected vendor for 3 years due to providing false pricing information and is involved in civil litigation; Whitehaven, which owes NT$4.5 billion, still received a new contract and has resorted to international arbitration. Taiwan Power Company emphasized that it will hold accountable according to the law while ensuring coal supply safety" datetime: "2026-08-14T06:34:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295891379.md) - [en](https://longbridge.com/en/news/295891379.md) - [zh-HK](https://longbridge.com/zh-HK/news/295891379.md) --- # Coal merchants owe 4.5 billion yuan but still receive new contracts from Taipower. Taipower: International arbitration has been initiated Regarding media reports on the controversy over Taipower's coal procurement, Taipower stated on the 14th that it will hold relevant suppliers accountable for contract negotiations based on false market price information, according to individual case facts and legal contracts. Among them, HVO has been clearly identified as having illegal facts by the Public Works Committee and has been listed as a supplier banned from transactions for three years. Taipower has also filed a civil lawsuit to demand the return of the disputed coal procurement amount; Whitehaven has resorted to international arbitration. According to reports from Mirror Weekly, Taipower faced a coal procurement controversy in 2025. Although Taipower won the lawsuit, two suppliers still have significant outstanding debts. Among them, Whitehaven, which owes NT$4.5 billion, continued to receive new contracts from Taipower this year; another supplier, HVO, which owes NT$8 billion, has been listed in the government procurement bulletin as a supplier banned from transactions for three years. Taipower explained that long-term coal procurement contracts in the Asia-Pacific region have a yearly negotiation mechanism, using the "Japan-Australia long-term contract price" agreed upon by the Australian Glencore Group and Japan's Tohoku Electric Power as the primary market indicator, which also serves as the reference benchmark for Taipower's negotiations with coal suppliers. As the price negotiator and information controller, Glencore misled Taipower during the coal contract negotiations in 2024 on behalf of its subsidiary HVO by using false market price information. Taipower's investigation revealed illegal activities, and the Public Works Committee confirmed the clear and serious illegal facts involved, leading to HVO being legally listed as a supplier banned from transactions for three years. Additionally, since this case involves suppliers providing false documents in violation of contract provisions, Taipower is seeking a refund for the disputed coal procurement amount, which is currently under civil litigation. Regarding the other defaulting supplier, Whitehaven, Taipower pointed out that Whitehaven, having indirectly cited media-reported erroneous information, is overall assessed as a business dispute. Taipower has initiated international arbitration due to its failure to perform in good faith. Considering the differences in the severity of the cases, necessary legal actions will be taken in a timely manner based on the subsequent developments of the case. Taipower emphasized that while ensuring the safety of coal supply, it will execute procurement with the utmost rigor and hold parties accountable according to the law and contracts to protect its rights and interests. Relevant details of the breach and disputed amounts will be determined based on the final results of legal and arbitration procedures ### Related Stocks - [WHC.AU](https://longbridge.com/en/quote/WHC.AU.md) - [GLEN.UK](https://longbridge.com/en/quote/GLEN.UK.md) - [GLNCY.US](https://longbridge.com/en/quote/GLNCY.US.md) - [9506.JP](https://longbridge.com/en/quote/9506.JP.md) ## Related News & Research - [WHC: FY26 production and sales hit guidance highs, with strong cost control and positive market outlook](https://longbridge.com/en/news/293982047.md) - ['The market is obviously on fire': Should I take $1,000 from my brokerage account to pay off my car loan?](https://longbridge.com/en/news/295938616.md) - [EDM Announces DTC Eligibility for Electronic Settlement of Trades in the United States | EDMFF Stock News](https://longbridge.com/en/news/295791286.md) - [CSconnected unveils awardees for final call of £1m Supply Chain Development Programme](https://longbridge.com/en/news/295531319.md) - [The average car loan is now $785 a month - and lasts for almost 6 years](https://longbridge.com/en/news/295837800.md)