"Efforts to Reflect Greenhouse Gas and 4th Industrial Revolution Demand Forecasts in Next Electricity Plan (Comprehensive)"

Ministry of Industry Confirms and Announces the 9th Basic Plan for Electricity Supply and Demand (2020-2034) on the 28th
"Will Reflect National Greenhouse Gas Reduction Revised Plan in the Nearest Year's Basic Plan Upon Announcement"
"Will Not Rush to Quantify 4th Industrial Revolution Electricity Demand Forecast Immediately"

Joo Young-jun, Director General of Energy Resources, Ministry of Trade, Industry and Energy. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok] The government confirmed and announced on the 28th that it will quadruple new and renewable energy facilities from this year until 2034, while reducing nuclear and coal power. It stated that if the national greenhouse gas reduction target (NDC) is revised, it will immediately reflect the changes in the nearest upcoming power supply and demand plan. Instead of forcibly presenting the electricity demand forecast due to the 4th Industrial Revolution in the basic supply and demand plan, it will be included after a refined measurement method is developed.

On this day, Joo Young-jun, Director of the Energy Resources Office at the Ministry of Trade, Industry and Energy, explained this regarding the "9th Basic Plan for Electricity Supply and Demand" (9th Electricity Plan). The 9th Electricity Plan aims to reduce greenhouse gas emissions to about 19.3 million tons by 2030, but this has been criticized as insufficient compared to the government's goal of carbon neutrality (net zero carbon emissions) by 2050.

Director Joo said, "The consistency issue with the greenhouse gas reduction target included in this 9th Electricity Plan is a plan aligned with the NDC we intend to submit to the United Nations (UN) by the end of this year. If a strengthened revised NDC beyond the current NDC is created or a new national plan considering carbon neutrality by 2050 is prepared, it can be reflected in the 10th Electricity Plan, etc."

The Ministry of Trade, Industry and Energy stated, "During the establishment of the 9th Electricity Plan, we analyzed and reviewed the impact of electricity consumption due to the 4th Industrial Revolution, but concluded that it is difficult to quantitatively reflect electricity consumption as maximum power due to uncertainties in predicting electricity usage patterns." This acknowledges that the plan did not properly include measures to prepare for a sudden surge in electricity demand due to the 4th Industrial Revolution within the target maximum demand of 102.5GW by 2034.

Director Joo said, "I thought it would be difficult to immediately quantify (electricity demand after the 4th Industrial Revolution) in the electricity plan," adding, "We will strive to secure sufficient scope to reflect it over the next two years until the announcement of the 10th Electricity Plan, and if a clear methodology to quantify demand forecasts is not found after two years, rather than forcibly reflecting it, it should be left to be announced in the subsequent electricity plan."

The Ministry announced that the share of new and renewable power generation in South Korea's total energy will expand to 20.8% in the 9th Electricity Plan. This is more than triple the 6.5% recorded last year. Securing sufficient sites to install facilities such as solar power is essential.

Director Joo said, "As a result of investigating land with low environmental damage concerns and relatively easy resident acceptance, such as abandoned roads, railways, and salinized farmland, it was found that there is land to install about 130GW of facilities," adding, "The facility plans included in the 9th Electricity Plan for new and renewable energy can be said to be within the range of such land area."

He continued, "If more land needs to be secured to increase facilities after the 9th Electricity Plan, discussions will be held to secure land with high public acceptance."

This content was produced with the assistance of AI translation services.