CNFI to make energy policy proposals in wake of nationwide blackout

Taipei, March 6 (CNA) The Chinese National Federation of Industries (CNFI) said Sunday that it will put forward some new energy policy proposals to the government, as the nationwide blackout on March 3 had caused substantial losses to industrial businesses.

In a press release, the federation said that apart from the impact in the lives of the general public, the power outage resulted in estimated losses of NT$10 billion (US$355 million) to 48 industrial parks and 521 companies nationwide.

The semiconductor, optoelectronics, petrochemical and steel industries took a huge hit, with petrochemical companies in Kaohsiung's Linyuan Industrial Park suffering the biggest losses, the CNFI said.

Taking into consideration the two other major blackouts that occurred in May last year, the CNFI said, it is evident that the country's current energy policies need to be revised as soon as possible.

Amid the trade war between the United States and China, Taiwan has grown as an investment hub in recent years, but that has also driven up Taiwan's energy consumption, the CNFI said, adding that the problem needs to be addressed if Taiwan is to retain that status.

To that end, CNFI Chairman Wong Wen-yuan (王文淵) said, the federation is working with industry leaders and energy experts in Taiwan to come up with practical and scientific recommendations for improving the government's energy policies.

The recommendations could be used not only to resolve Taiwan's energy crisis but also to help realize its goal of becoming a carbon neutral country by 2050, Wong said.

Meanwhile, the government should also review its energy policies, in recognition of the industrial sector's role as an integral part of the country's development and the need for a stable energy supply, the CNFI said.

The federation said, however, that it knows energy policies have become more complicated due to climate change.