(A) study on economic viability of life extension of nuclear power plants in Korea

Abstract

This study would assess the viability of life extension of nuclear power plants, specially Kori \#1 unit, as an economical electric source in the present long-term expansion planning of generating units in Korea. For the purpose of this study, replacement power cost would be evaluated by using probabilistic simulation method, and then break-even refurbishment costs would be calculated by means of levelized generation cost comparison, and compared with reference cost to assess the economic viability of Kori \#1 unit life extension. Under the baseline scenario, break-even overnight refurbishment cost range is appeared as from about \$800/kWe in the case of replacing PWR-1000MWe to \$2,000/kWe in the case of replacing coal-700MWe, being about $1.4 \sim 3.5$ times of reference cost. Therefore, absent major technological breakthroughs making present generating options obsolete, life extension of Kori \#1 unit should be the most economical option in the present expansion planning of generating unite in Korea.