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Photo: YONHAP News
The government has confirmed the Ninth Basic Electric Power Supply and Demand Plan for 2034, reducing the proportion of nuclear and coal power generation and significantly increasing the amount of renewable energy.
The Ministry of Commerce, Industry and Energy announced that the ninth energy plan, which included the forecast of energy supply and demand, plans for power generation facilities and measures to reduce greenhouse gases, for 15 years from this year until 2034, it was confirmed through the Energy Policy Deliberation.
Under the ninth plan, 30 coal-fired power plants with 30 years of operation through 2034 will be cut, and 24 of them will be converted to liquefied natural gas or LNG power generation. The seven coal-fired power plants currently under construction will be completed as scheduled.
Nuclear power plants peaked at 26 units in 2022 when Shin-Kori units 5 and 6 are completed according to the principle of prohibition of new construction and life extension, and then reduced to 17 units by 2034.
Between new and renewable energy, we plan to increase the share of total energy by increasing the speed of supply of solar and wind power generation.
If this power plan proceeds smoothly, renewable energy generation will account for the majority of 40.3% of installations in 2034, LNG will account for 30.6%, coal power generation 15.0%, and nuclear power plants 10.1%.
Compared to this year, renewables increased by 24.5 percentage points, LNG decreased by 1.7 percentage points, coal by 13.1 percentage points and nuclear power plants decreased by 8.1 percentage points.
The greenhouse gas reduction target is expected to be achieved by reducing the amount of carbon generated.
The Industry Ministry said it plans to meet the target of 191 million tonnes of greenhouse gas emissions in the conversion sector from 2030 by reducing coal-fired power generation.
This is a 23.6% decrease from the 252 million tonnes in 2017, and the proportion of annual coal power generation is expected to decline from 40.4% in 2019 to 29.9% in 2030.
Under the ninth plan, peak power demand in 2034 is projected to be 117.5 GW. The target demand combined with the demand management target and the spread of electric vehicles is 102.5 GW.
The annual average increase rate of the maximum power is 1.0%, and it is analyzed that it will decrease by 0.3% p compared to the 8th energy plan due to the fall in the forecast of annual average economic growth.
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