The decision to incorporate nuclear power into the energy mix now rests on project economics and the Philippines’ ability to comply with safety requirements, a government think tank said. READ:
“The decision whether to rehabilitate must be guided by project economics. The Korea study implies that rehabilitation is technically feasible. The Russian assessment implies that it will be very costly and raises whether it is worth it,” according to the Philippine Institute for Development Studies , in a study written by Adoracion M. Navarro.
The Department of Energy put the cost in 2017 at $1.17 billion for a BNPP rehabilitation to be performed by Korea Hydro and Nuclear Power Co. Ltd., KEPCO KPS, and Doosan Heavy Industries and Construction. The quote covers preliminary work, purchasing, replacement parts, inspection, maintenance and testing.
The main regulatory obstacle is the Electric Power Industry Reform Act of 2001, which barred the government from engaging in power generation with the exception of powering remote, off-grid areas. The PIDS study called EPIRA “the biggest hurdle” to be cleared if the BNPP were to go ahead. The DoE in its yearend report said moving forward with nuclear power is among its areas of focus this year.
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