Korea Electric Power CEO: ``Debt crisis caused by former government's move to phase out nuclear power''

Kim Dong-cheol, president of Korea Electric Power Co., pointed out that ``Korea Electric Power Co. is currently facing an astronomical debt crisis due to the energy policies of the previous Moon Jae-in government.''
did. In particular, he cited ``an unreasonable nuclear phase-out policy and a rapid new and renewable energy expansion policy,'' ``a sharp rise in global energy prices,'' and ``a stalemate in the structure of electricity price determination'' as the causes.
. According to ``President Kim's Job Performance Plan,'' which was obtained by opposition Democratic Party member Jeong Il-ryong, who is a member of the Committee on Industry, Commerce, Resources, and Small and Medium-sized Venture Companies of the Korean National Assembly, President Kim is ``KEPCO''
In his job performance plan, President Kim asserts that ``the previous government (Moon Jae-in administration)'s forced withdrawal from nuclear power and the rapid new revitalization'' energy expansion
``The previous Bun government reduced the proportion of low-cost nuclear power generation, and expanded the proportion of expensive renewable energy and liquefied natural gas (LNG).''
Looking at the composition ratio by power generation source, the ratio of nuclear power decreased from 30% in 2016 to 27.4% in 2021, while the ratio of new and renewable energy during the same period decreased.
The number of cases increased from 4.8% to 7.5%. President Kim said, ``The Moon government's policy to phase out nuclear power has resulted in a loss of 26 trillion won (approximately 2,864.4 billion yen) in additional power purchase costs over five years.''
Citing a report by the National Legislative Research Service that states, ``The total cost of the nuclear phase-out policy has been calculated at 47.4 trillion won (approximately 5.2214 trillion yen),'' a report by the Seoul University Nuclear Center.
Ta. President Kim also suggested, ``The freezing of electricity rates in a situation where international fuel prices and wholesale prices have skyrocketed is also the cause of Korea Electric Power's debt crisis.''
President Kim said, ``The previous Moon government rejected KEPCO's rate hike, saying that ``the increase in electricity rates was not the cause.''
The request was ignored." He added, ``The previous government focused only on the dissemination and expansion of new and renewable energy, and ignored the unplanned overexploitation of offshore wind power by private businesses.''
"With no know-how accumulated, only various side effects occurred." Regarding President Kim's job execution plan, Rep. Chung said, ``I only point out the previous government.
``There is no plan in sight to overcome the power crisis.''If President Kim's claims are true, it will not only be inevitable that electricity rates will rise in the future, but the government will also need to hire specialized personnel in the energy field.
It is unfortunate that the budget for the Korea Institute of Energy, which trains students, will also be drastically cut."