Taiwan's legislature has amended the Electricity Act, ending nuclear power generation in the country by 2025 and liberalizing the local electricity market.
Taiwan currently has three operational nuclear power plants.
The amendments stipulate the state-run Taiwan Power Company (Taipower) go private and separate its business operations into independent electricity generation, distribution and sale business units in six to nine years.
The revamped law also gives renewable energy priority to go on grid and allows its direct sale from generators to users. Currently all electricity must be sold through Taipower.
The Taiwan government will establish an electricity price stabilization fund to prevent drastic fluctuations in electricity price.
