[Op-Ed] Nuclear Power: The Most Efficient and Reliable Energy Source, Key to Future Power Supply

The opposition party opposes new nuclear power plants, advocates a nuclear phase-out, and calls for a greater share of renewable energy.

Nuclear power stably produces high-quality electricity and holds a clear advantage in economic efficiency.

Power generation cost per kWh: nuclear 43.8 won, solar 89.6 won, onshore wind 107.4 won.

Switzerland and Italy are officially moving from banning nuclear power to reintroducing it.

As the full-fledged AI era arrives, electricity demand is surging. However, finalization of the 11th Basic Plan for Long-Term Electricity Supply and Demand, which lays out power policy for the next 15 years and whose draft was released in May last year, has been delayed. This is because its reporting to the National Assembly has been postponed after running into opposition from the opposition party over new nuclear power plants. The opposition party is calling for a nuclear phase-out and a larger share of renewable energy, but it is doubtful whether rapidly growing electricity demand can be met stably without nuclear power.

Nuclear power stably produces high-quality electricity with a constant frequency. Because most electronic devices and industrial machinery are designed for a specific frequency, fluctuations can cause malfunctions in electronic equipment or adversely affect generators, and in severe cases can lead to blackouts. In this respect, nuclear power plays an important role in enhancing grid reliability by ensuring stable power quality.

Another strength of nuclear power is that, apart from regular maintenance or refueling periods, it can operate 24 hours a day. Because electricity is produced and consumed in real time, it is essential to supply a consistent amount of power at all times. Nuclear power is optimized for supplying baseload electricity in line with this characteristic, and data centers, which are at the center of rising electricity demand, also operate around the clock, making them well matched with nuclear energy.

It also shows a clear advantage in terms of economic efficiency. The fact that 1 gram of uranium can produce energy equivalent to 2,000 liters of oil or 3 tons of coal is a decisive factor in lowering power generation costs. According to the 2024 levelized cost of electricity, nuclear power costs 43.8 won per kWh, giving it a far more competitive cost structure than solar power (89.6 won) and onshore wind (107.4 won). Even though these figures include external costs such as accident risk costs and policy costs, the economic efficiency of nuclear power remains clearly superior to that of other energy sources.

By contrast, renewable energy is affected by weather, so its frequency is not constant. As a result, opportunity costs arise because thermal power plants must maintain reserve capacity for frequency adjustment. In addition, because continuous 24-hour generation is impossible, additional infrastructure investment such as energy storage systems is required, ultimately raising generation costs.

Most countries that had advocated a nuclear phase-out while overlooking the advantages of nuclear power are now shifting policy after experiencing sharp rises in electricity prices. Switzerland banned the construction of new nuclear power plants in 2017, but since August 2024 it has been pursuing legislation to allow new construction. Italy, which decided in 1990 to completely phase out nuclear power, has also officially moved to reintroduce it and plans to expand nuclear generation so that it will account for at least 11% of total electricity by 2050.

Nuclear energy is the most efficient and stable power source and should become the core of future electricity supply and demand. Expanding nuclear power generation is not a choice but a necessity for building stable power infrastructure. The government must establish policy support and an institutional foundation that can back the construction of new nuclear power plants.

Byungmu Joo, Intern Researcher, Center for Free Enterprise (CFE)

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Original title: [칼럼] 원자력-가장 효율적이며 안정적인 발전원, 미래 전력 수급의 핵심

Author: Byung-moo Joo

Date: 2025-04-30

Source: https://www.cfe.org/bbs/bbsDetail.php?cid=free_opinion&idx=27590