Kim Seong-hwan, the Minister of Climate, Energy and Environment, stated on September 18 that the government's goal of phasing out all coal power by 2040 may need to be accelerated in light of the climate crisis.
During the 7th public forum for establishing the 12th basic electricity supply plan held at the Korea Electric Power Corporation's Nam Seoul headquarters in Yeongdeungpo, Seoul, he remarked, "Given the impact on the climate crisis, isn't it appropriate to consider an earlier phase-out?"
He emphasized that the climate crisis is becoming increasingly severe and has become an urgent issue that cannot be postponed, as seen in the recent disaster in Nepal. He noted that while various factors contribute to the crisis, coal power is the most significant contributor, prompting countries worldwide to expedite the phase-out of coal power.
Currently, South Korea operates 60 coal power plants with a total capacity of approximately 39.5 gigawatts (GW). Considering their designed lifespan of 30 years, 39 of these plants are expected to be decommissioned by 2038, while the remaining 21 will still be operational in 2040.
Minister Kim highlighted that the key focus of the forum is how to orderly phase out the 21 plants that will not reach the end of their designed lifespan while minimizing the burden on the public.
Among the 60 coal power plants, five state-owned enterprises operate 52, while private companies own eight. While public power companies are discussing transitioning to renewable energy, private firms must also consider profitability.
He stated, "Public companies should be able to phase out coal power in an orderly manner while transitioning to renewable energy, but this process will not be easy. Private companies face profitability issues, so it is crucial to design a plan that considers all these factors for responding to the climate crisis and ensuring an orderly phase-out of coal power plants."
Additionally, he stressed the need to secure alternative energy sources and address the increasing electricity demand due to the spread of artificial intelligence (AI).
He concluded, "A significant amount of energy must be transitioned to renewable sources and some nuclear power, and considering the total demand increase due to the AI revolution, this is a more complex challenge than anticipated. I would appreciate wise suggestions on how to phase out coal power to mitigate the impact on the national economy while addressing the climate crisis, as this would greatly assist in establishing the 12th basic electricity supply plan."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.