The Overall Subcommittee, a consulting body for the national power supply master plan, announced a working-level version of the 10th national power supply master plan on Aug. 30, calling for raising the nation’s nationally determined contribution (NDC) of nuclear power by 8.9 percentage points and lowering the portion of renewable energies by 8.7 percentage points.
The subcommittee revised national energy policies with a focus on nuclear power by dramatically changing the former president Moon Jae-in government’s policies of weaning the country off nuclear power and raising renewable energies.
The 15-year mid- and long-term national power supply master plan is established every two years.
The Overall Subcommittee is manned by 13 energy experts.
The subcommittee announced a working-level of the 10th national power supply master plan, to be established by year-end, at COEX in Samseong-dong, Seoul, on Aug. 30.
The working-level version calls for setting the portion of nuclear power and renewable energy at 32.8 percent and 21.5 percent in 2030.
It is a reversal of the former president Moon Jae-in government’s 2030 NDC, announced last November, calling for setting the portion of nuclear power and renewable energy at 23.9 percent and 30.2 percent, respectively.
The President Yoon Suk-yeol plans to continue the operation of 12 nuclear power units by extending their life span and build six more units.
The Overall Subcommittee retained a policy of reducing coal-fired power generation. The former president Moon government set the portion of coal-fired power generation at 21.8 percent in its NDC version, but the 10th national power supply master plan lowers the figure at 21.2 percent.
Twenty-six nuclear power units, whose life span will end until 2036 — 30 years after their operation — are to be decommissioned as planned.
They are to be replaced with LNG-fired power plants. In addition, the government plans to build five more LNG-powered plants with a combined capacity of 4.3GW.
The Overall Subcommittee predicted that the maximum power demand will peak at 117.3GW in 2036. It estimates an annual average power demand growth at 1.4 percent.
It sets the maximum power generation facility capacity at 143.1GW, reflecting a reserve rate of 22 percent versus the maximum power demand.
The subcommittee’s working-level version contains strategies of diversifying the power market to set up market competition.
A power price biddings system will be introduced on a gradual basis to break down the monopoly of Korea Power Exchange.
Independent power providers except Korea Electric Power Corp. and companies will be allowed to sign a power purchase agreement, and PPAs will be expanded on a gradual basis.
The subcommittee’s working-level version details policies of reversing the former president Moon government’s steps to weaning nuclear power off the nation.
The former government came up with its NDC goals of reducing greenhouse gas emissions by 40 percent compared to 2018 levels.
It promised to achieve the reduction goals by raising the portion of renewable energies such as wind power and photovoltaic power.
At that time, it set the energy mix by 230: the portion of renewable energy, nuclear power, coal-fired power, and LNG-power power at 30.2 percent, 23.9 percent, 21.8 percent and 19.5 percent, respectively.
The subcommittee’s working-level version calls for setting the power mix of nuclear power, renewable energy, coal-fired power an LNG-fired power at 32.8 percent, 21.5 percent, 21.2 percent and 20.9 percent.
