TSMC complains that "Taiwan's electricity is the most expensive in the world"! Minister of Economic Affairs responds: striving to reduce prices, buying green energy from the Philippines

TSMC stated at last month's earnings call that in the latest electricity price adjustment in October, the electricity rate increase reached 14%, which is the highest price among global operating areas. In response to this, Minister of Economic Affairs Guo Zhonghui stated that "we are trying to reduce electricity prices." In addition, according to the Financial Times, although Taiwan's electricity price rise since 2022 has been slower than that of advanced economies such as France and South Korea, which rely on energy imports, research estimates that Taiwan's industrial electricity costs will exceed those of Japan and South Korea, its two export competitors. Minister of Economic Affairs: The government will work hard to reduce prices. Against the backdrop of Taiwan's high electricity prices, according to the Central News Agency, Minister of Economic Affairs Guo Zhonghui stated before attending the Legislative Yuan Economic Committee today that Taiwan can ensure a stable supply of green energy by 2030. "Based on the current rate of green energy development, Taiwan's green energy supply will be assured before 2030, and large investors using green energy such as TSMC have relevant contracts to ensure stable green energy supply." Furthermore, Guo Zhonghui stated that the government is making efforts to lower electricity prices, including purchasing electricity overseas, and hopes that the current electricity prices are the highest point: "We are trying to reduce electricity prices, and the Ministry of Economic Affairs is working hardest on energy issues, hoping that energy prices can come down, including purchasing electricity from overseas, which is also a trend of resource sharing among countries around the world." When asked about the plan to purchase green energy from the Philippines, Guo Zhonghui stated: "According to the theory of factor endowment in economics and the theory of corporate competition, Taiwan can consider the Philippines and Japan in relevant plans, which should be achievable." In addition, according to a previous report by Dong Qu, at the Legislative Yuan's hearing on the 29th of last month, People First Party Legislator Zhang Qikai questioned Cho Rongtai and Minister of Economic Affairs Guo Zhonghui, stating that the international company most likely to build a factory in Taiwan now is Nvidia, but the condition is to have 10 billion kWh of green energy: "You just said you are confident about international companies coming to Taiwan to build factories, and the most likely one is Nvidia. Huang Renxun said he is willing to return to Taiwan (to build a factory), but the condition is to have 10 billion kWh of green energy." Interestingly, after listening to this, Guo Zhonghui immediately responded: "We can give it to him," his confident attitude causing Zhang Qikai to hesitate for a moment. Zhang Qikai then began to question the fact that Taiwan now produces only about 20 billion kWh of green energy, and most of it is bought by TSMC, so he should not make any reckless promises. However, Guo Zhonghui also explained that Nvidia would not require 10 billion kWh of electricity all at once. But Zhang Qikai believes that it is very unrealistic for Taiwan, which has developed for so long, to produce only 200 billion kWh of green energy and directly promise 10 billion kWh to Nvidia.