Next Week's New Energy Strategy Announcement... Considering Extension of Nuclear Power Plant Lifespan

[Photo by AFP Yonhap News]

[Asia Economy Reporter Park Byung-hee] Major foreign media reported on the 14th (local time) that the UK government is reviewing a plan to extend the lifespan of nuclear power plants ahead of announcing a new energy supply plan next week.

Specifically, the UK government is considering extending the lifespan of the Sizewell B nuclear power plant in East Suffolk by 20 years to operate until 2055. This plant is the only one among the six remaining nuclear power plants in the UK that is scheduled to operate beyond 2030. The 1.2GW Sizewell B plant began operation in 1995 and accounts for 3% of the UK's electricity demand.

In a situation where dependence on Russian natural gas needs to be reduced in the future, extending the lifespan of the Sizewell B plant is being considered as one of the alternatives.

Opinions among ministers are divided. Some suggest investing around 500 to 700 million pounds to extend the Sizewell B plant's lifespan by 20 years, while others propose building a new nuclear power plant near Sizewell B, according to foreign media.

Kwasi Kwarteng, the Secretary of State for Business, visited Sizewell in January and met with EDF officials, the operator of the nuclear plant, and he reportedly prefers the 20-year extension plan.

Currently, the UK is significantly reducing its reliance on nuclear power. As of 2020, electricity generation from nuclear power in the UK was 9GW, accounting for 20% of the UK's electricity demand. However, since then, nuclear power generation has decreased by about 2GW.

Last summer, the 1.1GW Dungeness nuclear power plant in Kent was closed seven years ahead of schedule, and in January this year, the 965MW Hunterston B plant in North Ayrshire, Scotland, was shut down. In July this year, the decommissioning process for the 965MW Hinkley Point B plant will begin.

The only nuclear power plant currently under construction in the UK is the 3.2GW Hinkley Point C plant in Somerset, southwest England. Hinkley Point C is scheduled to start operation in 2026. According to current plans, only two nuclear power plants will be operating after 2030.