The 11th Electricity Plan Virtually Confirmed... Simultaneous Expansion of Renewable Energy and Nuclear Power

by Kang Nahum

Published 19 Feb.2025 15:39(KST)

Yonhap News

The 11th Basic Plan for Electricity Supply and Demand (Jeon-Gibon), centered on the construction of two large nuclear power plants and one small modular reactor (SMR), was virtually finalized on the 19th after completing the reporting procedure to the National Assembly.

The Ministry of Trade, Industry and Energy reported the 11th Jeon-Gibon, which will apply from 2024 to 2038, at the plenary session of the National Assembly's Industry, Trade, and Small and Medium Venture Business Committee on the same day. This plan includes projections of electricity demand and supply plans through 2038, and the ministry plans to hold the Electricity Policy Deliberation Committee on the 21st to finalize it.

Minister of Trade, Industry and Energy Ahn Deok-geun stated, "We have strived for scientific demand forecasting and comprehensively considered energy policy principles such as supply stability, efficiency, and carbon neutrality," adding, "The basic direction is to strengthen the power grid and advance the electricity market system to support a power mix centered on zero-carbon power sources."

The Jeon-Gibon forecasted that electricity demand will surge beyond previous estimates due to the development of the semiconductor industry, the boom in AI data center construction, and the expansion of electric vehicle adoption. The government expects electricity demand to increase by an average of 1.8% annually, reaching 129.3 GW by 2038. In particular, new demands previously unseen, such as the Yongin Semiconductor Cluster (1.4 GW), data centers (4.4 GW), and the introduction of electric vehicles and hydrogen reduction steelmaking (11 GW), are expected to increase.

The government designed to meet this demand increase mainly through nuclear power and renewable energy. The share of zero-carbon energy generation will expand from 39.1% in 2023 to 53.0% in 2030 and 70.7% in 2038. The shares of nuclear power and renewable energy will increase from 31.8% and 18.8% in 2030 to 35.2% and 29.2% in 2038, respectively. Additionally, the share of hydrogen and ammonia power generation will rise from 2.4% in 2030 to 6.2% in 2038.

The plan for new large nuclear power plant construction was adjusted from three units to two, introducing two nuclear power plants with a capacity of 1.4 GW in 2037?2038. Also, a next-generation small modular reactor (SMR) with a capacity of 0.7 GW will be introduced in 2035?2036. Renewable energy generation capacity will expand from 78 GW in 2030 to 121.9 GW in 2038, with large-scale offshore wind development and the installation of solar power facilities within industrial complexes being promoted.

However, power grid issues arising from the expansion of generation facilities remain a challenge to be addressed. It was pointed out that there are difficulties in transmitting electricity from power plants concentrated in the East Coast, Chungcheong, and Honam regions to major demand areas such as the Seoul metropolitan area. Experts emphasized that the 11th long-term transmission and transformation plan to be announced by Korea Electric Power Corporation (KEPCO) will be key to solving the power grid shortage problem.

Professor Yoo Seung-hoon of Seoul National University of Science and Technology said, "It is an important task to stably supply electricity produced in Yeongnam and Honam to the Seoul metropolitan area," adding, "In particular, for the Gori area, which is being discussed as a new nuclear power plant site, constructing transmission lines on land is inevitable, and how to resolve local residents' opposition will determine the success or failure of implementing the 11th Jeon-Gibon."