The share of LNG in overall power generation should be raised up to 33 percent through the eight power supply basic plan.
As the Moon Jae-in administration is pushing a new energy drive to reduce reliance on nuclear and coal power generation, private LNG power suppliers such as SK E&S, POSCO Energy, and GS EPS, which have kept in silence, started raising their voices.
Since 2010, these companies have invested several trillion won in LNG power plants, trusting the government's promise of expanding the use of LNG power. They, however, are facing difficulties due to the decline in their plants' capacity utilization.
Private LNG power suppliers are calling for the new administration to raise the share of LNG power through the eighth basic power supply plan (2017-2031) which will be confirmed at the end of this year. Under the seventh basic power supply plan (2015-2029) mapped out in 2015, the share of coal power generation was set to increase up to 41.3 percent by 2020 and 42.8 percent by 2025, a direction that runs against to the new administration's energy drive.
Industry experts claimed, "Without fully revising the seventh basic plan, the new administration may have difficulty in increasing the share of LNG and new recyclable energy in overall power generation."
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