RP may buy 2 nuclear reactors from Korea

MANILA, Philippines - The government may explore the possibility of bringing in from Korea two 1,000 megawatts (MW) units of nuclear power reactor, a source privy to the ongoing talks said.

The source said Congressman Mark Cojuangco who has authored a bill for nuclear energy development in the country, has discussions for the entry of these nuclear power reactors which could amount to $4 billion.

“Rep. Cojuangco went to Korea to express our interest towards the development of nuclear energy as one of the sources of power in the country. There has been initial arrangement,” he said.

The source said to be able to do this, the government has to declare a clearer policy on nuclear energy development.

“There would be a meeting Monday (March 29 ) among the members of the nuclear energy development task force to discuss this,” the source said.

The meeting will discuss the approach that the government will take once it considers bringing in these power facilities into the country.

Once firmed up, he said other details including the location of the power plants would then be discussed.

So far, the province of Pangasinan, the source said, is being considered as a host of the power facilities.

He said the local government of Pangasinan has passed a resolution allowing the province to locate these nuclear reactors with a condition that its power rate would be pegged at P3 per kilowatthour based on the 2009 demand computation.

Aside from Pangasinan, Cebu is also willing to be a host to the nuclear facilities.

The source said it could be an option to the LGUs to undertake the acquisition and the setting up of the nuclear facility with the help of the National Government and/or the private sector.

“It would be part of the discussion on who will shoulder the cost of building these reactors here.  Then the LGU could partner with private sector and jointly sell the produce,” he said.

The source said it could also be an option for the government to negotiate for the purchase on behalf of the LGU and its private sector partner, and “that would be the equity of NG to the project.”

He said the National Government may get a concession rate if it will be the one to get the reactors.

And after declaration of a general direction or policy for nuclear, the source said a feasibility study could commence on the purchase of these reactors.

“Once declared, the feasbility study could be finalized if viable to build the plant.  If we put it in Bataan where the Bataan Nuclear Power Plant (BNPP) is located then we can go to other areas,” he said.