Home News 1500 trillion won in cost by 2050 if nuclear phase out continues… 120 surge in electricity bills

1500 trillion won in cost by 2050 if nuclear phase out continues… 120 surge in electricity bills

by news dir

On the 27th, the government confirmed the goal of reducing greenhouse gas emissions by 40% compared to 2018 and reducing net carbon emissions to zero by 2050. The economic community has repeatedly expressed the opinion that the 2030 target is at a level that is impossible to achieve and that it is necessary to adjust the pace, but the government did not accept it.

The government held a cabinet meeting on the same day and confirmed the plan to raise the national greenhouse gas reduction target (NDC) for 2030 and the 2050 carbon neutral scenario prepared by the 2050 Carbon Neutrality Committee. There was no change in what the Carbon Neutrality Committee announced on the 18th.

Compared to 2018, the government has significantly raised the greenhouse gas reduction target for 2030 from 26.3% last year to 40%. Accordingly, it is decided to lower greenhouse gas emissions from 727.6 million tons in 2018 to 436.6 million tons in 2030. In the conversion (power generation) sector, it was decided to reduce greenhouse gas emissions by 44.4%. It also proposed reduction targets of 14.5% in the industrial sector, 37.8% in the transport sector, and 46.8% in waste. As a goal for 2050, Scenario A, which completely suspends all thermal power plants including liquefied natural gas (LNG), and Plan B, which partially maintains LNG power, were adopted.

The Korea Employers Federation said in a ‘management comment’ on the same day, “It is regrettable that the opinions of the industry were not properly reflected and the final decision was made.” The KEF added, “The government should disclose the detailed estimate of the total cost to be borne by stakeholders, including the industry, and significantly expand the budget required for R&D and commercialization of innovative technologies to reduce greenhouse gas emissions.”

The government plans to announce the national reduction target confirmed on this day to the international community at the 26th UN Climate Change Conference (COP26) to be held in Glasgow, UK next month, and submit it to the UN this year.

FKI, Energy Policy Seminar… Concerns over ‘Greenhouse Gas Reduction’
Renewable energy needs to be expanded, but it is essential to maintain an appropriate proportion of nuclear power

“If the proportion of new and renewable energy is increased to 80% while maintaining the policy of eliminating nuclear power by 2050, the electricity rate will increase by 120% compared to now.” (Roh Noh-seok, Research Fellow, Nuclear Policy Center, Seoul National University)

“It is questionable whether we can achieve the goal of reducing the annual average greenhouse gas emissions, which is more than twice that of the European Union.” (Lee Dong-gyu, Professor of Economics, University of Seoul)

Energy experts raised concerns about the government’s decision on the 27th to raise the national greenhouse gas reduction target (NDC) by 2030, which is to reduce national greenhouse gas by 40% compared to 2018. Experts point out that the government should properly utilize existing energy sources, such as nuclear power, rather than pursuing unreasonable energy policies with the goal of achieving carbon neutrality.

○“Energy mix excluding nuclear power is impossible”

The Federation of Korean Industries held a seminar on the ‘reasonable energy policy direction for 2050 carbon neutrality’ at the Conference Center of the FKI Hall in Yeouido, Seoul on the 27th. At the seminar, experts pointed out that the government is pushing ahead with policies that are unreasonable, such as maintaining the principle of eliminating nuclear power even though it takes a lot of time and money to reduce carbon due to the high proportion of manufacturing and the lack of new and renewable energy resources.

Park Joo-heon, a professor of economics at Dongduk Women’s University, who served as the head of the Energy Economics Research Institute, emphasized in a presentation titled ‘Ordered carbon-neutral energy transition’, saying, “Energy transition is a very long-term task that takes a whole century, so we must not be in a hurry.” “It is necessary to gradually expand renewable energy, but we must maintain an appropriate proportion through continuous operation of nuclear power plants,” he said.

Research Fellow Roh Noh-seok pointed out that if the government’s current nuclear-free policy is maintained, huge costs will be unavoidable. He said, “If the nuclear-free policy is maintained by 2050 and the proportion of new and renewable energy is increased to 80%, the electricity rate will increase by 120% from now. ” he said. This means that by 2050, more than double the government budget of next year (604 trillion won) should be invested for energy conversion.

○ “I have to give the exact value of the cost paid by the public”

In the panel discussion held following the presentation of the topic, experts expressed the opinion that the government should properly check the feasibility of implementing a carbon-neutral policy and accurately estimate the cost to be borne by the public. Professor Lee Dong-gyu said, “Even the EU, which has better conditions for reduction than Korea, raises doubts about the feasibility of the government’s target of 4.17%, which is more than twice as high as the average annual greenhouse gas reduction rate is 1.98%.”

In addition to the direct costs of pursuing carbon neutrality, they were concerned that they could face a decrease in employment and income and an increase in prices due to the contraction of the industry. Professor Lee pointed out, “It is also very worrying that they are hostile to industries that emit large amounts of carbon, such as steel, petrochemicals, oil refining, and cement, and forcing them to sacrifice most of them in the process of energy conversion.”

Cheol-woo Baek, a professor of international trade at Duksung Women’s University, said, “Even if the government costs only 30 billion won, the government carefully weighs costs and benefits through a preliminary feasibility study.” . “France, which has promised to reduce dependence on nuclear power plants due to the recent surge in energy prices, is also planning to build six more nuclear power plants,” he said. will,” he said.

Kwon Tae-shin, vice chairman of the FKI, said in a seminar greeting on the same day, “Compared to developed countries whose industrial structure is mainly service industries, the proportion of manufacturing is high, which is disadvantageous for carbon reduction and lacks new and renewable energy resources.” “Based on scientific and rational analysis, carbon neutrality and energy We need to re-examine our policies,” he said.

Correspondent Kim So-hyun / Kim Hyeong-gyu / Kang Kyung-min [email protected]

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