
Crypto Investment Entry and Exit Strategies of Institutional Investors
Section: Business
Taiwan has officially begun the process of shutting down its final operational nuclear reactor, marking a significant shift away from nuclear energy for the island nation. The Reactor No. 2 at the Maanshan Nuclear Power Plant, located in southern Taiwan and boasting a capacity of 951 megawatts, is set to be completely decommissioned by midnight local time, following the expiration of its 40-year operating license, as reported by the state-owned Taiwan Power Company (Taipower).
This decision aligns with the commitments made by Taiwan's ruling Democratic Progressive Party (DPP) under its energy plan initiated in 2016, which aimed to phase out nuclear power by 2025. The catalyst for this policy shift was largely influenced by the Fukushima disaster in Japan in 2011, which raised significant safety and environmental concerns about nuclear energy.
Experts believe Taiwan's move sends a powerful message to other countries in Asia, such as Japan and South Korea, as well as globally, suggesting that nuclear power may no longer be deemed necessary. Jusen Asuka, a professor specializing in Northeast Asian studies, emphasized that this transition could redefine energy paradigms in the region.
Taiwan's journey towards nuclear phase-out began in earnest in 2018 and 2021 with the deactivation of two older plants, followed by the first reactor at Maanshan being shut down in July 2024. Historically, nuclear energy contributed to nearly 50% of Taiwan's electricity supply; however, by 2024, that figure dwindled to approximately 3%. In the past year, Taipower indicated that 82.1% of the island's electricity was sourced from fossil fuels, while renewable energy accounted for 11.9%.
Despite the government's assurances regarding energy security, concerns persist about whether Taiwan can sustainably meet its increasing energy demands without nuclear power, especially in light of ongoing tensions with China. The Chinese government views Taiwan as a territory of its own and has not ruled out the use of force for unification.
In response to these challenges, Taiwan's Premier Cho Jung-tai reaffirmed on Friday that the island's electricity supply would remain stable despite upcoming demands from sectors such as semiconductor manufacturing and artificial intelligence. He added that while the shutdown of the reactor may reduce the power reserve margin slightly, it would still exceed critical safety thresholds.
Taipower is planning to commission four new gas-fired power plants this year as part of its strategy to diversify energy sources. The government aims to increase the proportion of renewable energy in the energy mix to 20% by 2026.
Critics have raised alarm over the potential risks associated with Taiwan's energy independence in the face of external pressures and the urgent need for a more varied energy supply system. Just recently, Taiwan's legislature approved a change in laws that could theoretically extend the operational life of existing reactors by up to 20 years, provided that safety can be ensured. However, Cho clarified that reactivating decommissioned reactors would necessitate new legal frameworks and thorough safety evaluations.
Section: Business
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Section: Health
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Section: News
Section: News
Health Insurance in Germany is compulsory and sometimes complicated, not to mention expensive. As an expat, you are required to navigate this landscape within weeks of arriving, so check our FAQ on PKV. For our guide on resources and access to agents who can give you a competitive quote, try our PKV Cost comparison tool.
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