Taiwan's nuclear regulator has cleared an initial plan to restart the Maanshan nuclear plant, which shut in May 2025. The move reverses a decade-old phase-out and adds another name to the list of countries bringing reactors back.
At a glance
- The Nuclear Safety Commission approved Taiwan Power's initial restart proposal, but safety inspections and a further review still lie ahead.
- Economy minister Kung Ming-hsin has put 2028 as the earliest date the plant could run again.
- Chipmakers wanting steady low-carbon power and costly LNG imports are pushing the policy shift.
Background
Taiwan once ran three nuclear power plants but decided a decade ago to phase them out. Maanshan, in Pingtung County on the island's southern tip, was the last to close when its 40-year licence expired in May 2025. Since then Taiwan has leaned heavily on imported liquefied natural gas (LNG). A 2025 law change now lets plants apply to run beyond 40 years.
What happened
Taiwan's Nuclear Safety Commission has cleared its review of an initial proposal to restart the Maanshan Nuclear Power Plant. The approval is only a first step. State utility Taiwan Power must still carry out safety inspections and submit an implementation report for another review.
Economy minister Kung Ming-hsin has said the plant could run again in 2028 at the earliest. Premier Cho Jung-tai had already signalled the government's support for bringing nuclear power back.
Why Taiwan changed course
The ruling party spent years opposing nuclear power, so the shift is a real reversal. Energy security is the main reason. Instability in the Middle East has raised the cost of the LNG that replaced nuclear power, and those price spikes have drained public finances.
Taiwan's chipmakers add to the pressure. Companies such as TSMC want clean and stable electricity for their factories. Public opinion has also moved: in an August 2025 referendum, about three-quarters of voters backed reopening Maanshan, though turnout was too low for the result to count.
What it means for uranium
Every reactor that returns needs a steady supply of uranium fuel for decades. Taiwan joins a wider revival: Japan is restarting reactors, while China, South Korea, India and Bangladesh are building new ones. Italy's Senate has also approved a return to nuclear power after 40 years.
One plant will not move the uranium market alone, and Maanshan is still at least two years away. The direction matters more. Governments that once stepped back from nuclear power after the 2011 Fukushima disaster are now adding demand back into the fuel market.
Our read
Outlook: bullish. A restart adds long-term uranium demand and reinforces the trend of countries returning to nuclear power. The effect is gradual, because Maanshan cannot run again before 2028.
What to watch
- Taiwan Power's safety inspections and the implementation report it must file for the next review.
- Whether Taiwan's other closed nuclear plants apply to restart under the 2025 law change.
- Fuel supply contracts Taiwan Power signs ahead of any 2028 restart.
For information only, not investment advice.
Uranium price in India
metalscost.com India reference price as of 2026-10-03.
Detailed analysis
Timeline
- 2025-05: Maanshan shuts after its 40-year operating licence expires.
- 2025-08: About three-quarters of referendum voters back reopening Maanshan, but turnout is too low for the result to count.
- 2026-09-25: Taiwan's Nuclear Safety Commission clears the initial restart proposal.
- 2028: Earliest date Maanshan could resume operations.
Demand Drivers
A restarted Maanshan would need uranium fuel for years, adding to demand from reactor restarts in Japan and new builds across Asia.
Government Policies
A 2025 law change lets Taiwan's plants run beyond 40 years, reversing a decade-old nuclear phase-out.
Geopolitical Risks
Middle East instability has made LNG costly, pushing energy importers like Taiwan back toward nuclear power.
What could lift prices
- Each reactor restart creates decades of new demand for uranium fuel.
- Taiwan joins Japan and Italy in reversing earlier retreats from nuclear power.
What could weigh on prices
- Maanshan cannot restart before 2028, so near-term demand does not change.
- The plan still needs safety inspections and another regulatory review, and could stall.
Country impact
| Country | Impact | Reason |
|---|---|---|
| Taiwan | High | A restart would reduce reliance on costly LNG and give chipmakers steadier power. |
| Japan | Low | Its reactor restarts are part of the same regional return to nuclear power. |
Industry impact
| Industry | Effect | Reason |
|---|---|---|
| Nuclear Power | Positive | Another government reversing a phase-out strengthens the case for nuclear generation. |
| Semiconductor Manufacturing | Positive | Chipmakers such as TSMC gain a prospect of cleaner, more stable electricity. |
Who gains, who loses
- Uranium producers: Reactor restarts add long-term demand for the fuel they sell.
- LNG suppliers to Taiwan: Nuclear power from Maanshan would replace some of the gas Taiwan now imports.
Other ways this could play out
- If inspections go smoothly, Taiwan could move to restart its other closed plants as well.
- If the review uncovers costly safety upgrades, the 2028 date could slip.
Price risks
- Delays in Taiwan's review would push any new uranium demand further into the future.
- A drop in LNG prices could weaken the political case for restarting reactors.
Historical comparison
- 2011: The Fukushima disaster led many governments to step back from nuclear power, a trend now reversing.
Technical view
Price is trading above both its 20-period and 50-period moving averages, a bullish alignment.
Computed from metalscost.com's own stored price history.
Japan