Government Energy Mix re -establishment…
 Expanded to more than 30% of nuclear power plants in 2030

Government Energy Mix re -establishment… Expanded to more than 30% of nuclear power plants in 2030

The government turns the energy conversion policy centered on nuclear power plants. By 2030, the company will expand its power generation power generation to more than 30% and resume construction of Shinhanul Units 3 and 4. In addition, a special law will be established for the disposal of high-level stomach waste, and a dedicated organization will be established under the Prime Minister as a control tower.

The government announced on the 5th that it held the 30th State Council, presided over by President Yoon Seok-yeol, and deliberated and decided on the ‘New Government Energy Policy Direction’, which aims at the contents.

The government has re-established a realized and reasonable energy mix, establishes strong resource and energy security, efficiency of energy demand based on market principles, and establishes market structures ▲ export industrialization of energy industry and growth engine The new energy policy has been established with five policy directions.

■ Energy Mix Reasons… Shinhan Wool 3 · 4 resumed construction and expansion of nuclear power plants

The government plans to establish a new ratio of energy mixes such as renewable energy and nuclear power plants. The construction of Shinhan Wool Units 3 and 4 will be resumed and continuously promoted to expand the portion of nuclear power plants in the 2030 power mix to more than 30%. In addition, a special law for the disposal of high-level stomach waste and a control tower will be implemented, such as the establishment of a dedicated organization under the prime minister.

Considering the conditions of renewable energy, the regenerative energy supply target is rationalized and derived from the proportion of the originals such as solar and wind power (maritime). Coal power generation induces reasonable reduction in consideration of the supply and demand situation and system.

It will revitalize the nuclear power plant ecosystem through early creation of nuclear power plants, and will cost about 400 billion won for the development of 10 nuclear power plants by 2030, and to develop its own small module nuclear power plant (SMR).

It will establish a clean hydrogen supply chain through the early expenses of hydrogen core technology independence and production, distribution and utilization. In solar and wind power, the company will strengthen its industrial competitiveness by early commercialization of next-generation technology such as solar tandem cells, wind power super turbines, and strengthening solar carbon verification system.

■ Energy demand efficiency establishment of market structure… Expansion of strategic stocks for supply chain issues

It will also establish energy demand efficiency and market structure based on market principles. Through the innovation of demand for demand in three major sectors, including industrial, home, buildings, and transportation, the policy will be promoted from energy supply to energy demand efficiency.

In preparation for the recent supply chain, the company plans to expand strategic stocks, and strengthen the entire energy supply chain, such as diversification of import line through international cooperation, and resources of core minerals (manganese, cobalt, etc.).

In addition, energy cashbacks will be expanded nationwide, including voluntary agreements, mandatory EERS, regulatory innovation, and incentive reinforcement. Regarding the recent controversial power market and rates, we will establish a power market based on the principles of competition and process, and establish the principle of cost-value of electricity rates.

It will strengthen its expertise by strengthening the independence of power market and fare governance and reinforcing the organization and human resources of the Electricity Committee. In addition, it will promote the advancement of the climate change response system and private investment, such as improving the emission trading system, revitalizing the international reduction and voluntary reduction market, and supplementing the RE100 system.

■ Reduced fossil fuel import dependence in 2030… Energy industry Create 100,000 jobs

If the new government’s energy policy is implemented without any disruption, the government said that the dependence on fossil fuel imports will be reduced from 81.8%in 2021 to 60%in 2030.

In addition, fossil fuel imports in 2030 are expected to decrease about 40 million pet oil conversion tons (TOE) compared to 2021. The government expects that energy innovation venture companies will grow from 2,500 in 2020 to 5,000 in 2030 to create about 100,000 jobs by creating new energy industries.

The government plans to implement the ‘New Government Energy Policy Direction’ through related legal plans, such as the 10th Basic Plan for Power Supply and the National Carbon Neutral Green Growth Basic Plan.

Meanwhile, ‘New Government Energy Policy Directions’ replaces the previous government policy, which specifies the phased reduction in nuclear power plants, such as ‘Energy Conversion (Development) Roadmap’ and ‘Third Energy Basic Plan’ announced in October 2017..

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