TAIPEI (TVBS News) — Taiwan Power Company (Taipower, 台電), the island's state-owned electricity provider, announced on Thursday (May 1) that dependence on nuclear energy alone cannot guarantee a stable power supply for the nation. The statement was issued as pro-nuclear activists demonstrated outside the Ministry of Economic Affairs (MOEA, 經濟部), Taiwan's government agency overseeing energy policy, demanding extended operations for nuclear power plants to alleviate the utility's financial woes.
Taiwan Power Company attributed its mounting financial difficulties primarily to skyrocketing global fuel prices triggered by the Russia-Ukraine conflict. Officials noted that even nations heavily reliant on nuclear power — such as South Korea, Japan, and France — face similar challenges with electricity price inflation. The utility has absorbed NT$600 billion (US$19.2 billion) in residential and industrial electricity costs over the past three years due to fuel price surges, resulting in losses exceeding NT$400 billion (US$12.8 billion).
The state utility highlighted comparative international trends, noting that from 2020 to 2024, South Korea experienced electricity price increases of 48% for residential and 105% for industrial consumers, while France saw hikes of 54% and 68% respectively. During this period, the Japanese government provided approximately NT$550 billion (US$17.6 billion) in energy subsidies, with France allocating about NT$700 billion (US$22.4 billion) to mitigate consumer impacts.
Taiwan Power Company emphasized that nuclear energy currently represents merely 3% of Taiwan's overall energy portfolio, exerting minimal influence on either the island's power supply stability or the company's financial position. Looking forward, the utility outlined its strategy to ensure reliable electricity through a diversified approach combining low-carbon natural gas, carbon-free renewable sources like solar and wind, and pumped-storage hydropower facilities that can provide on-demand electricity during peak consumption periods.
In preparation for increasingly frequent extreme weather events affecting the island, Taiwan Power Company has repurposed several decommissioned generation units as emergency backup facilities to prevent potential blackouts during critical periods. The utility now provides transparency through real-time reporting of these backup facilities' operational hours on its official website, allowing the public to monitor the island's power reserve status. ★