Taiwan electricity reserves enough to meet demands of returning firms: Premier Su

Taiwan's reserve margin will reach 15 percent for next two years

Premier Su during a conference with CNAIC members.

Premier Su during a conference with CNAIC members. (CNA photo)

TAIPEI (Taiwan News) — Taiwan’s electricity reserve margin will reach 15 percent over the next two years, said Premier Su Tseng-chang (蘇貞昌).

This not only means ample supply for regular public use, he said, but also enough to meet the demands set by an influx of Taiwanese firms returning from abroad.

Su on Tuesday morning (May 21) hosted a conference at the Executive Yuan with members of the Chinese National Association of Industry and Commerce (CNAIC), the Central News Agency reported.

Su said during a speech at the event that the government is striving to re-energize Taiwan’s economy.

It has lowered Small and Medium Enterprise Credit Guarantee Fund of Taiwan (Taiwan SMEG) renewal fees, he said, and simultaneously launched a NT$100 billion capital guarantee plan, with single-day underwriting for loans of less than NT$500,000.

Industrial electricity use last year amounted to a new record of 155.6 billion kilowatts per hour, Su said. The government is continuing to increase supplies to meet demands, he added.

The Changhua offshore wind farm has begun construction, he said, and new generation units in Linkou, Tongyu and Dalin will all contribute to the national supply. A reserve margin of 15 percent over the next two years is not only ample supply for daily consumption, he said, but will fully meet the needs of returning Taiwanese firms.

The country’s plan to reengage Taiwanese firms that moved abroad has so far met success, Su said, with over 55 returning this year before May, bringing NT$300 billion in investments.

Additionally, he said, Taiwan in March was removed from the European Union’s (E.U.) tax haven graylist, improving the competitive edge of Taiwanese businesses in Europe.