Minister Kim Sunghwan of the Ministry of Climate, Energy and Environment said on the 2nd, "We will begin public deliberation on two new nuclear power plants within this year."
The Minister said at a press briefing held at the Government Complex Sejong that "we will launch the 12th Basic Plan for Electricity Supply and Demand (Jeongibun) within the year and finalize the method and procedure for public deliberation on two new nuclear power plants."
The Ministry of Climate, Energy and Environment is in a position to announce the 12th Jeongibun next year. The 12th Jeongibun will include projections for power demand through 2040 and plans to expand transmission and substation facilities. The key point to watch is whether the plan to build two large nuclear power plants and one SMR included in the previous administration's 11th Jeongibun will be maintained.
The Minister said, "Korea Hydro & Nuclear Power Co. (KHNP) has promised to complete (the selection of a nuclear plant site) within this year," adding, "There is also a possibility that we will issue a notice for nuclear plant site selection within this year." The Minister said, "However, we will make a decision with the public deliberation issue in mind."
The Minister also mentioned SMRs. The Minister said, "Design in 2028, licensing in 2030, and power generation in 2035 are the goals," adding, "Even if there are variables, the experiment itself is meaningful." The Minister added, "We will pursue decarbonization by appropriately using renewable energy and nuclear power."
◇ No electricity rate hike from renewable energy expansion… five state power generators to be merged or consolidated
Regarding a reporter's question about the possibility of an electricity rate hike in the first quarter of next year due to the expansion of renewable energy, the Minister drew a line.
The Minister said, "Expanding renewable energy does not lead to a rate increase," adding, "International oil prices have the greatest impact on rates." The Minister continued, "The task is to lower the levelized cost of renewable power as much as other countries," and said, "We will increase volumes without raising rates to find a balance point."
Meanwhile, the Minister also previewed a restructuring plan for state power generation companies in line with the "abolition of coal-fired power plants by 2040." The Minister said, "We will conduct a short-term study and hold intensive discussions in the first half of next year," adding, "We will present a consolidation and merger plan before the announcement of the 12th Jeongibun."