The Ministry of Economic Affairs reiterated that since the outbreak of the U.S.-Iran conflict this year, international fuel prices have soared and ship schedules have been disrupted. China National Petroleum Corporation and Taipower Corporation have shouldered the responsibility of preventing price rises on the front line and called on all walks of life to support this additional budget.
In response to external criticism of energy policies and the finance of state-owned enterprises, the Ministry of Economic Affairs reiterated today (18th) that since the outbreak of the US-Iran conflict this year, international fuel prices have soared and ship schedules have been disrupted. China National Petroleum Corporation and Taipower Corporation have worked hard to arrange oil and gas shipping schedules and fuel dispatch. At the same time, they have shouldered the responsibility of preventing rising prices and stabilizing my country's energy supply and prices. It calls on all walks of life to support this additional budget. The Ministry of Economic Affairs emphasized that Taiwan is steadily promoting energy transformation and reducing air pollution emissions, and will not allow the outside world to erase stigma.
The Ministry of Economic Affairs explained that the conflict in the Middle East has prompted the global oil refining industry to turn to the United States, Africa and other places for procurement. Taiwan's China Petroleum Corporation is also actively looking for alternative oil and gas sources to maintain high oil and gas reserve levels. The Ministry of Economic Affairs emphasized that my country's oil and gas supply will be safe by the end of the year. At the same time, China National Petroleum Corporation has also started oil and gas procurement operations in the first quarter of next year ahead of schedule.
The Ministry of Economic Affairs reiterated that "Taiwan currently does not have a power shortage problem." In response to the rapid development of the semiconductor industry and AI information center, the demand for electricity has been driven by the Ministry of Economic Affairs. The Ministry of Economic Affairs has taken stock and broadly estimated the power supply and demand in the next ten years, and plans to add 25 new gas-fired units with a total of 26GW to respond. It will play a bridging role in supporting the development of green energy, in line with international energy development trends.
Regarding nuclear power, the Ministry of Economic Affairs pointed out that in response to the massive growth in electricity demand, various countries are promoting advanced nuclear energy or small-scale nuclear energy research. With our country’s mature and safe nuclear energy technology, nuclear waste solutions, and public support, the government will not rule out any possible options and will face nuclear energy issues prudently.
Recently, Taichung Mayor Lu Hsiu-yen claimed that "after shutting down nuclear power, medium-fired power burned 50% more coal." The Ministry of Economic Affairs explained that the air pollution situation has also improved significantly in recent years. Taking the Taichung Power Plant as an example, through phased coal reduction and environmental protection improvement projects, air pollution emissions have been reduced by up to 80%. At the same time, the amount of coal used in 2025 has also been reduced by 1 million tons compared with the previous year.
The Ministry of Economic Affairs further explained that since the Middle East war, the price of international Brent crude oil has increased by 66% compared with before the war. Countries have suffered from rising fuel prices, which are partly reflected in price adjustments and partly slowed down by government subsidies. my country's gasoline prices have increased by 14%, Australia's increase is 50%, Singapore's 23%, South Korea and Japan's increases with government subsidies are 19% and 8% respectively. my country's diesel prices have increased by 12%, South Korea's 27%, Japan's 28%, Hong Kong, China's 30%, and Singapore's 53%. In addition, my country's electricity prices have not been adjusted, while in neighboring Asian countries such as Japan and Singapore, current electricity prices have increased by 4.2% in Japan and 19% in Singapore compared with the beginning of the year (before the war).
The Ministry of Economic Affairs stated that the government's supplementary budget to subsidize oil and gas companies is no different from the recent policy direction of various countries in response to high oil prices, including Japan and South Korea, which have already adopted subsidy measures. Taking the Japanese government as an example, it has budgeted an additional NT$103.6 billion (513.5 billion yen) for the "Electricity and Gas Burden Reduction Support Program" to provide subsidies for gas and electricity bills for citizens and industries.
The Ministry of Economic Affairs emphasized that in the face of the unclear situation in the Middle East, it will continue to maintain the energy policy goal of "sufficient quantity and stable prices" to stabilize energy supply and price stability. It also asks the people to support the government's implementation of a special budget to stabilize our country's energy supply and prices.
