"Operation of Nuclear Power Plants Canceled by Moon Administration Saves 30 Trillion Won"

Simulation Results of Shin Hanul Units 3 and 4 and Cheonji Units 1 and 2 Operation
Noh Yong-ho: "A Rational Nuclear Mix Must Be Established When Formulating the Power Supply Plan"

[Asia Economy Reporter Kwon Hyun-ji] An analysis has revealed that operating the nuclear power plants that were canceled due to the Moon Jae-in administration's nuclear phase-out policy could save up to 30 trillion won in power generation costs by 2050.

According to a simulation result requested by Rep. Noh Yong-ho of the People Power Party, a member of the National Assembly's Industry, Trade, Energy, Small and Medium Business Committee, from the National Assembly Legislative Research Office on the 27th, operating Shin Hanul Units 3 and 4 and Cheonji Units 1 and 2 could save 30 trillion won in power generation costs by 2050. Operating only Shin Hanul Units 3 and 4 would save 18 trillion won.

Shin Hanul Units 3 and 4 were scheduled to operate between 2022 and 2023 according to the 4th Basic Plan for Electricity Supply and Demand, and Cheonji Units 1 and 2 were planned for operation between 2026 and 2027 under the 7th Basic Plan for Electricity Supply and Demand, but these plans were canceled as the Moon Jae-in administration pursued the nuclear phase-out policy.

Rep. Noh stated, "The previous administration's nuclear phase-out policy destroyed the nuclear industry ecosystem and caused the loss of many opportunity costs such as nuclear exports, technology development, and power generation cost reduction," adding, "When establishing the 10th Basic Plan for Electricity Supply and Demand, we must reflect the reality of our country as an 'energy island' that cannot borrow electricity and compose a reasonable power mix (including nuclear, coal, LNG, renewables, etc.)."

This result was based on the 9th Basic Plan for Electricity Supply and Demand and carbon neutrality scenarios, using the WASP (Wien Automatic System Planning) program developed by the International Atomic Energy Agency (IAEA). The operation of Shin Hanul Units 3 and 4 was assumed for 2027 and 2028, and Cheonji Units 1 and 2 for 2033 and 2034.