Electricity prices forecast to rise 10% in nuclear-free Taiwan

The China Post
Date: May 28, 2017

TAIPEI, Taiwan — Electricity prices in Taiwan will increase by no more than 10 percent if the country phases out nuclear power by 2025, Economics Minister Lee Chih-kung (李世光) said Saturday, rejecting projections of a 40 percent hike.

President Tsai Ing-wen’s (蔡英文) administration has set a goal of creating a nuclear-free homeland by 2025, while a law was amended this year to allow the supply of green energy directly to consumers and the restructuring of the state-owned Taiwan Power Company (Taipower).

In keeping with the government’s goal of phasing out nuclear power, the Ministry of Economic Affairs in May released a plan for electricity generation in Taiwan, saying that by 2025, it should be 50 percent from natural gas, 30 percent from coal, and 20 percent from renewable energy sources.

In an interview with CNA, Lee said natural gas prices have dropped in recent years with the increase in shale gas production, while international trends have been showing a steady decline in the cost of renewable energy.    [FULL  STORY]

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