July 27: The first unit of the Third Nuclear Power Plant officially shut down, with only the second unit remaining for commercial operation; the share of nuclear power in Taiwan has decreased to 2.8 percent. Although the Taiwan Power Company (Taipower) claims to have prepared new energy sources from private gas plants, frequent power outages have eroded public confidence. In a recent survey by Global Views Monthly, 91.8 percent of the public expressed concerns about power shortages after the first unit's decommissioning. The main reasons cited for potential shortages were policy planning issues (91.3 percent) and excessive electricity consumption by energy-intensive industries (79.6 percent). Some 79 percent of respondents do not agree with Premier Cho Jung-tai's assurance that Taiwan would not face power shortages before 2030.
July 28: Taipower's plan to construct a fourth liquefied natural gas (LNG) receiving station within the Keelung marine conservation area faced environmental assessment challenges. After several setbacks, the project was scaled down, and the approval letter was revoked by the Keelung City Government. Taipower appealed to the Ministry of Agriculture and won, but the case is now back in the environmental assessment phase.
Similar to the controversy surrounding the impact of the third LNG receiving station project on Taoyuan algae reef, environmental groups continue to protest the ecological impact of the fourth LNG receiving station. Concerns also arise about its potential effects on Keelung Harbor operations. The project is significant for Taiwan's energy transition under the administrations of presidents Tsai Ing-wen and Lai Ching-te. The Democratic Progressive Party (DPP) administration had rejected a referendum proposal related to protecting Keelung's coastline but has now rescinded the Keelung City Government's decision.
July 29: The National Audit Office released the audit report for the central government for the 2023 fiscal year. Central government public debt stands at NT$6.5 trillion (about US$200 billion), approximately 27.6 percent of gross domestic product (GDP). Both the general budget and special budget show deficits until 2029, indicating long-term fiscal pressures. The next five years are projected to have insufficient revenue to cover expenditures.
July 30: Representatives from both sides of the Taiwan Strait signed four consensus agreements regarding the February 14 incident involving a capsized mainland Chinese vessel near Kinmen. Taiwan returned two bodies and released a detained fishing boat providing each family with RMB 1.5 million (about US$209,000) in compensation. During the memorial service, Director-General Chang Chung-lung of the Coast Guard Administration, Ocean Affairs Council, apologized for the lack of video evidence during law enforcement. The case, spanning over five months, has reached a temporary resolution. Additionally, both sides made an ancillary resolution to handle two other incidents involving Kinmen residents and a detained Taiwanese fishing vessel, with mainland authorities taking action.
July 30: The annual summit of the Inter-Parliamentary Alliance on China Policy (IPAC) was held in Taipei. President Lai delivered a speech criticizing China's misinterpretation of United Nations General Assembly Resolution 2758 as a legal basis for military action against Taiwan. Members subsequently passed a resolution stating that Resolution 2758 does not determine Taiwan's political status nor establish the "One China" principle as international law; IPAC also announced Taiwan as a new member.
July 31: The DPP administration aims to achieve a "nuclear-free homeland" by 2025, but Premier Cho stated in an exclusive interview with Japanese media that nuclear power may still be "discussed" in the future. According to the report, Cho hinted at the possibility of restarting nuclear power by 2030 to meet the electricity demands of the artificial intelligence (AI) and semiconductor industries.
Premier Cho later claimed that the report was a misunderstanding; the Executive Yuan reiterated that a nuclear-free homeland remains national policy, although the government is open to new nuclear technologies, provided safety, waste management, and public consensus are ensured.
August 1: The Legislative Yuan recently amended the National Communications Commission Organization Act, removing the provision for commissioners' term extensions and limiting the number of reappointments. However, the Executive Yuan reappointed Deputy Chairman Weng Po-tsung, whose term was set to expire in one day, as acting chairman on July 30, just before the new law was announced. Despite the Office of the President announcing the new law on July 31, the Executive Yuan set conditions, requiring the Legislative Yuan to first approve the new NCC commissioners before specifying the new law's implementation date. The opposition parties criticized the Executive Yuan for disrespecting the legislative outcome, escalating tensions.
August 2: A sharp decline in American stocks dragged down Asian markets, with the Taiwan Stock Exchange falling below the quarterly moving average, plummeting by 1,004 points, the largest drop in history, with a 4.4 percent decline. The market capitalization of listed companies fell below NT$70 trillion (about US$2.1 trillion), with a combined market value evaporation of over NT$3 trillion (about US$92 billion). The Taiwan Semiconductor Manufacturing Company (TSMC) was also affected, falling below the quarterly moving average of NT$923, closing at NT$903, a single-day market value shrinkage of NT$1.4 trillion (about US$43.8 billion), reducing to NT$23.4 trillion (about US$718 billion).
