Legislators yesterday criticized a proposed renewable energy development bill (再生能源發展條例草案), saying it may over-reward local firms' investments and shift the cost of subsidizing such investments to the public.
The bill proposes setting a guaranteed minimum electricity rate to encourage local companies to invest in renewable energy.
Unlike coal and natural gas, which cost about NT$1 per kilowatt-hour and NT$3 per kilowatt-hour respectively to produce, solar energy production would cost much higher — between NT$17 and NT$21 per kilowatt-hour.
Aside from guaranteed minimum electricity prices, the bill also proposes establishing a renewable energy fund that would be used to subsidize renewable energy prices and equipment.
“The bill is too rewarding. It is almost a life-long guarantee and even more secure than buying insurance,” Chinese Nationalist Party (KMT) Legislator Lin Tsang-min (林滄敏), said at the legislature’s Economics Committee yesterday.
As local fuel and electricity prices are expected to rise in the short term, Democratic Progressive Party Legislator Chang Hua-kuan (張花冠) said she was afraid if the bill passes, the cost of developing renewable energy would be reflected in general electricity prices and add to the public burden.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
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