Although the Korea Hydro & Nuclear Power Co. (KHNP) decided to shut down the first nuclear reactor in Wolseong due to its lack of economic feasibility, suspicions have been raised that the figures on unit sales and labor costs were manipulated in the process of economic evaluation.
Rep. Jang Seok-chun of the opposition Liberty Korea Party asserted at the National Assembly on Oct. 29 that KHNP manipulated sales revenues by applying excessively low unit price forecasts to conclude that Wolseong nuclear reactor No.1 is not economically viable.
As of the first half of 2018, the unit cost of nuclear power plant was 61,820 won per Mwh, but the report estimated that it was 55,960 won. "If we set the sales unit price lower, we have to measure the economic feasibility of Wolseong nuclear reactor No. 1 lower. KHNP manipulated the selling price and measured the sales revenue of Wolseong No. 1 as low as 154.3 billion won over the next five years.
“KHNP’s report estimates that the sales unit price of nuclear power plant will decrease over the next five years, but the unit price of nuclear power plant has almost doubled over the past 10 years. Considering the nature of the cost reflection market and future inflation rate, the unit price of nuclear power plant will go up further,” he said.
The sales unit price of nuclear power plant has risen 74 percent over the past 10 years from 35,558 won per megawatt in 2009 to 61,820 won in 2018.
"The KHNP, which decided to close the Wolseong reactor No. 1 early with reports tainted by manipulation and violation of laws, must take responsibility for huge national losses and damage to the people," Rep. Jang said.
