Industry loses competitiveness as government struggles to afford cheap-power incentives
Taiwan’s laboured energy transition is straining its industry, with sudden electricity price jumps and growing outage risks affecting companies including Asia’s biggest — the semiconductor giant TSMC. Following a series of price increases, Taiwan Semiconductor Manufacturing Company now expects to pay more for power in its home country than anywhere else. The world’s largest chipmaker operates plants in the US and Japan and is building one in Germany.
Meanwhile, the country has begun to phase out nuclear power, which accounted for half of supplies in the 1980s but is down to 6 per cent and will disappear when the last reactor is switched off next May as planned. That leaves coal and liquefied natural gas — both of which are imported — accounting for more than 80 per cent of its energy supply, while renewables make up just 9.5 per cent. The power price increases do not pose a significant financial problem for TSMC.
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