Taipower Loses Nuclear Reactor Dispute With GE, Must Pay US$158m

Taipower Loses Nuclear Reactor Dispute With GE, Must Pay US$158m
Credit: Reuters / Arnd Wiegmann
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Taipower, Taiwan’s state-owned electric power corporation, said Tuesday the International Chamber of Commerce (ICC) has ruled it must pay American company General Electric (GE) US$158 million (NT$4.88 billion) in a dispute over reactors in Taiwan’s fourth nuclear power plant.

Taiwan scrapped the plant in 2014 after public sentiment rose against nuclear power following the 2011 Fukushima disaster in Japan. The plant, located in New Taipei’s Gongliao district, contained two reactors built by GE.

Taipower stopped making payments to GE for the reactors after the plant was abandoned and accused GE of failing to meet its contractual requirements, reports CNA.

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Credit: Reuters / Pichi Chuang
A visitor looks out at Taiwan's Fourth Nuclear Power Plant in May 2012. The plant was mothballed in April 2014.

An ICC arbitration tribunal ruled in December 2018 that Taipower must pay GE. The ruling was approved by the ICC International Court of Arbitration in January.

The ruling states that Taipower must pay GE in full before June 2019.

Taipower said it was disappointed by the ruling and will decide whether or not to appeal the judgment after consulting with its attorneys.

Other news from Taiwan:

► Taiwan’s economics minister says electricity prices will rise more than expected, while the bill to decommission Taiwan’s three active nuclear power plants will be 40 percent higher than estimated in 2017. The announcements could bode poorly for the Democratic Progressive Party’s (DPP) energy policy heading into next year’s elections. (CNA)

► 16 U.S. senators have wrote a letter to President Donald Trump urging him to send a Cabinet official to an April event held by the American Institute in Taiwan (AIT). There were rumblings last year that a high-ranking Cabinet official would attend the AIT’s June 2018 opening ceremony, but this never transpired. (Taipei Times)

► Premier Su Tseng-chang (蘇貞昌) told Kaohsiung mayor Han Kuo-yu (韓國瑜) to stay in his lane and keep out of politics during his planned upcoming visit to China, which has yet to be approved by the Mainland Affairs Council. (Taipei Times)

► Annette Lu (呂秀蓮), who served as vice present under Ma Ying-jeou (馬英九), has proposed a referendum to make Taiwan a peaceful and neutral nation, saying neutrality is Taiwan’s right and obligation. (CNA)

► A Mainland Affairs Council deputy minister says China plans to ratchet up talks with Taiwanese who live in China over its political future. Taiwanese citizens in China have been subjected to such meetings for years. (Voice of America)

Read Next: OPINION: Taiwan Should See the Failed Trump-Kim Summit as a Warning

Editor: Nick Aspinwall (@Nick1Aspinwall)

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