Amid rising calls for the scrapping the nation’s use of nuclear power, iron and steel product manufacturers have expressed concern over the effect such a move would have on the steady supply of electricity, which they said is crucial to their companies’ competitiveness.
Chairman of Taichung-based Feng Hsin Iron & Steel (豐興鋼鐵) Lin Ming-ju (林明儒) said despite concerns about safety at the Fourth Nuclear Power Plant in Gongliao District (貢寮), New Taipei City (新北市), the scrapping of nuclear power and shifting to a reliance on renewable energy sources is not feasible, as the nation’s electricity supply would not be stable.
Company spokesman Lin Da-chun (林大鈞) said an unstable power supply would mean power disruptions and could cause halts to production. He said the company could ask for compensation from state-owned Taiwan Power Company (Taipower, 台電), but he said what the company wants is a stable supply of electricity rather than compensation.
Lin said that geothermal and nuclear power are still the most stable sources of electricity at present.
Use of renewable energy sources would not provide a stable supply, he said.
In terms of electricity sales last year, Taipower provided the most electricity to the electronics industry, selling it 30.54 billion kilowatt-hours, or 21.95 percent of the electricity sold to all sectors.
The iron and steel industry came in second, purchasing 11.54 billion kilowatt-hours, or 8.3 percent of all electricity sold.
Huang Hsiao-hsin (黃孝信), secretary-general of the Taiwan Steel & Iron Industries Association (台灣鋼鐵工業同業公會), said that besides an unstable supply of electricity, steel product manufacturers are also worried about electricity rates going up, which they said would undermine their competitiveness.
However, Tung Ho Steel Enterprise Corp (東和鋼鐵) said it welcomed the current debate on nuclear power, and added that faced with a potentially unstable electricity supply and electricity price increases, the firm needs to plan how to reduce its electricity use and improve efficiency.
“Rather than worrying about insufficient power supplies in the future, it is better to start saving electricity,” a company spokesman said.
In Italy’s storied gold-making hubs, jewelers are reworking their designs to trim gold content as they race to blunt the effect of record prices and appeal to shoppers watching their budgets. Gold prices hit a record high on Thursday, surging near US$5,600 an ounce, more than double a year ago as geopolitical concerns and jitters over trade pushed investors toward the safe-haven asset. The rally is putting undue pressure on small artisans as they face mounting demands from customers, including international brands, to produce cheaper items, from signature pieces to wedding rings, according to interviews with four independent jewelers in Italy’s main
Macronix International Co (旺宏), the world’s biggest NOR flash memory supplier, yesterday said it would spend NT$22 billion (US$699.1 million) on capacity expansion this year to increase its production of mid-to-low-density memory chips as the world’s major memorychip suppliers are phasing out the market. The company said its planned capital expenditures are about 11 times higher than the NT$1.8 billion it spent on new facilities and equipment last year. A majority of this year’s outlay would be allocated to step up capacity of multi-level cell (MLC) NAND flash memory chips, which are used in embedded multimedia cards (eMMC), a managed
Japanese Prime Minister Sanae Takaichi has talked up the benefits of a weaker yen in a campaign speech, adopting a tone at odds with her finance ministry, which has refused to rule out any options to counter excessive foreign exchange volatility. Takaichi later softened her stance, saying she did not have a preference for the yen’s direction. “People say the weak yen is bad right now, but for export industries, it’s a major opportunity,” Takaichi said on Saturday at a rally for Liberal Democratic Party candidate Daishiro Yamagiwa in Kanagawa Prefecture ahead of a snap election on Sunday. “Whether it’s selling food or
In the wake of strong global demand for AI applications, Taiwan’s export-oriented economy accelerated with the composite index of economic indicators flashing the first “red” light in December for one year, indicating the economy is in booming mode, the National Development Council (NDC) said yesterday. Moreover, the index of leading indicators, which gauges the potential state of the economy over the next six months, also moved higher in December amid growing optimism over the outlook, the NDC said. In December, the index of economic indicators rose one point from a month earlier to 38, at the lower end of the “red” light.