WNN reports that two additional nuclear power reactors are to be constructed and plans for four coal-fired plants have been dropped in the latest 15-year basic energy plan released by the South Korean government today.
The Ministry of Trade, Industry and Energy (MOTIE) published its 7th basic power supply plan for the period up to 2029, the previous plan having covered up to 2027. The plan foresees South Korea total electricity demand increasing by some 2.2% annually over the next 15 years to reach 657 TWh by 2029. Peak demand is expected to reach 112 GWe in 2029, compared with 80 GWe last year. The plan aims to cut the annual electricity consumption by 14.3% and its peak demand by 12.0% from their business-as-usual levels by 2029.
The two additional nuclear power reactors had not been included in the previous plan. South Korea currently has 24 reactors in operation and a further ten either under construction or planned. Unit 1 of the Kori plant is currently scheduled to close in 2017, so the country would have 35 units in operation by 2029. The nuclear energy share of the total generating capacity is expected to increase from 22.4% in 2014 to 28.2% in 2029. Under the previous plan, nuclear share was to have increased to 27.4% by 2027.
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