Economic Evaluation of Long-term Operation of NPPs in Korea

It is inevitable for Korean government to establish the energy policy which can support the energy security and independence since Korea depends on approximately 97% of energy resources from abroad. We selected nuclear power plant to overcome the problem. Since Kori unit 1 began operating as a first nuclear power plant, nuclear power generation has been played a big role in providing about 30% of total electricity supply in Korea. Many researchers and economists have already assessed about safety and economic aspects of the nuclear power generation. This paper will deal with the economic benefits for the contribution of nuclear power generation especially long-term operation of NPPs to the Korean society. In this paper, the economic analysis of the LTO for the existing power plant less than and equal to 1,000MW compared to no extension was investigated. The selected durations of LTO are 10 years, 20 years, and 30 years beyond design life. The result from the analysis is that LTO of NPPs is more beneficial than observance of its design life. In the aspects of utility's electricity sales increase and reducing the new construction of APR1400 NPPs with cost savings, LTO is one of the best option in order to provide electric energy with Korean society