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http://dx.doi.org/10.7733/jnfcwt-k.2013.11.3.207

A Research on the Economic Feasibility of Korean Nuclear Power under the Condition of Social Acceptance after Fukushima Accident  

Kim, Dong-Won (Korea Nuclear Energy Promotion Agency)
Publication Information
Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT) / v.11, no.3, 2013 , pp. 207-212 More about this Journal
Abstract
Since the Fukushima nuclear power plant accident in March 2011, critical views on the increase in operation of nuclear power plants including the safety and the economic feasibility thereof have been expanding across the world. In these circumstances, we are to find out solutions to the controversial questions on whether nuclear power plants are economically more feasible than other energy sources, while the safety thereof is fully maintained. Thereby, nuclear power plants will play a key role as a sustainable energy source in the future as well as at present. To measure the social safety level that Korean people are actually feeling after the Fukushima accident, a method of cost-benefit analysis called the Contingent Valuation Method(CVM) was used, whereby we wanted to estimate the amount of expenses the general public would be willing to pay for the safety based on their acceptance rather than the social safety. As a result of calculating the trade-off value of the economic feasibility versus the safety in nuclear power plants through the survey thereon, it caused the nuclear power generation cost to be increased by 4.75 won/kWh. Reflecting this on the current power generation cost of 39.11 won/kWh would increase the cost to 43.86 won/kWh. It is thought that this potential cost is still more competitive than the coal-fired power generation cost of 67 won/kWh. This result will be available as a basic data for the 2nd Energy Basic Plan to be drawn up this year, presenting policy implications at the same time.
Keywords
Contingent Valuation Method; Optimum Point; Economic Feasibility; Social Acceptance; Nuclear power generation cost;
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