High-cost, Low-efficiency Approach
The South Korean government reconfirmed its plan to significantly increase the ratio of renewable energy-based power generation and reduce those of coal-based and nuclear power generation. According to the plan, renewable energy is scheduled to account for 20% of power generation in Korea in 2030.
The government held a meeting on September 6 to discuss its third national energy management plan, which is slated to be finalized within this year. “In the national plan, we are going to propose a long-term pricing scheme and tax reform goals reflecting power generation and social costs along with measures such as integrated smart energy system establishment focusing on renewable energy,” said the Ministry of Trade, Industry & Energy.
In this regard, a working group consisting of 75 members from the government, industries, civic organizations and so on is going to discuss the draft of the national plan before recommendation announcement scheduled for early next month. Then, report to the National Assembly and public hearings take place until November. The National Energy Commission and the Presidential Committee on Green Growth will look into the plan in December before a cabinet voting.
At the meeting on September 6, some experts pointed out that the plan needs to be improved in some aspects. “The plan is a high-cost and low-efficiency one and there should be measures to make it more feasible,” said Seoul National University professor Yoon Soon-jin.