[Nuclear Again] Nuclear Power Gains Traction Amid Middle East War... Six Additional Reactors to Operate in First Half

Nuclear Power, a Safety Net for Energy Crises with Economic Feasibility and Stability
Rising Expectations for a Second Nuclear Renaissance

With energy security under threat in the wake of the Middle East conflict, nuclear power generation is once again drawing attention. Nuclear power plants are less impacted by high oil prices, and their generation cost is less than half that of liquefied natural gas (LNG), making them a safety net during energy crises from the perspectives of economic feasibility and safety. In response, the government and the ruling party have decided to bring six nuclear power plants, currently undergoing maintenance, online in the first half of this year to increase their utilization rate.

Hanbit Nuclear Power Plant Overview. Photo by The Asia Business Daily Database

Ahn Dogeol, a member of the Democratic Party of Korea and secretary of the government-party Middle East Crisis Economic Response Task Force, told The Asia Business Daily on the 17th, "If we additionally operate six nuclear power plants in the first half of this year, the utilization rate (number of operating nuclear power units), currently in the high 60% range, can reach 80%," adding, "We do not anticipate any significant difficulties in operating them according to the scheduled timeline." According to Korea Hydro & Nuclear Power Co., Ltd., of the 26 domestic nuclear power plants, 15 are in operation. Excluding three plants whose continued operation is being reevaluated due to the expiration of their design lifespans, 15 out of the 23 operable units (65%) are currently generating power. Assemblyman Ahn was referring to this 65% figure.

In fact, the actual nuclear power utilization rate—meaning the ratio of actual annual power generation to the maximum possible generation—was at 84.6% last year. Korea Hydro & Nuclear Power Co., Ltd. plans to raise the utilization rate to 89% this year. If this is achieved, it will mark the highest level in 15 years, since 2011, when the utilization rate reached 90.7%. If planned preventive maintenance is completed as scheduled, Shin Wolsong Unit 1 (1,000 MW) and Kori Unit 2 (650 MW) will resume operation in March; in May, Hanbit Unit 6 (1,000 MW), Wolsong Units 2 and 3 (700 MW each), and Hanul Unit 3 (1,000 MW)—a total of six units—will complete maintenance and begin operation in the first half of the year. In June, Hanul Unit 5 (1,000 MW) is set to finish maintenance, followed by Wolsong Unit 4 (700 MW) in July.

With the Lee Jaemyung administration’s nuclear power policy direction and the Middle East crisis working in tandem, the phase-out and anti-nuclear policies are effectively considered to have ended. Local governments are now actively competing to be selected as sites for new nuclear power plants, and the trend of nuclear power plant construction is spreading overseas as well, raising expectations for a second nuclear renaissance.

Professor Jeong Dongwook of the Energy Systems Engineering Department at Chung-Ang University stated, "The background for Korea’s adoption of nuclear power was the oil crisis; when the country’s first nuclear power plant, Kori Unit 1, played a key role during the second oil crisis in 1978, it became clear that nuclear power offers the greatest supply stability during an energy crisis." He added, "Recently, the cost per kilowatt-hour of nuclear power has dropped to 80 won, which is 2.5 times cheaper than LNG at around 200 won, making the current Middle East conflict a renewed reminder of nuclear energy’s importance." Continuing, he said, "While electricity demand fluctuates constantly, there is always a time lag in supply, so it is crucial to establish long-term plans based on forecasts. To achieve decarbonization, we must steadily proceed with planned large-scale nuclear construction and increase both nuclear and renewable energy generation."

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