When did nuclear power turns business?

Private companies of Thailand have embraced the idea of developing nuclear power, expecting it will reduce operating costs and attract foreign investment amid high energy prices. Saha Group chairman Boonsithi Chokwatana said he wanted nuclear power plants to take shape even earlier than scheduled by the Energy Ministry.

"Nuclear power generation is an interesting business. If any company embarks on this, I'm ready to subscribe to its shares. The industry has a long way to go. Buildings could have their own generators," Boonsithi said on "Nuclear power plants for Thai economic sustainability".

He also urged the incoming government to ensure that nuclear power projects take shape within five years.

"We're backing this because Saha Group relies on exports. With higher energy costs, our competitiveness will be hit. Thailand must adapt, and nuclear power would be a way towards sustainable growth now that Viet Nam and Indonesia have already embarked on this plan."

Kobkarn Wattanavrangkul, chairperson of Toshiba Thailand and vice chairperson of the Thai Chamber of Commerce's energy committee, is also hopeful the new government will promote nuclear power generation and sees the importance of preparing the investment.

"If the government sees the benefits of this, it should say so. If the government goes ahead with this, the private sector will not let it go alone. We're ready to support the move," she said.

All trade chambers across the country are ready to push for this development by helping to educate the public in each region. They are also ready to stage question-and-answer sessions and activities targeting children--the generation that will have to live with nuclear power.

She said the private sector's interest in nuclear power came from the realization that the world is facing higher oil prices due to depleting stocks of the fuel. With other countries already building networks to ensure energy security, Thailand will not be able to keep up if it does not take preparatory measures now.

Energy Minister Piyasvasti Amranand said it would take six years to prepare for nuclear power development. During that time, regardless of changes of government, the Kingdom should collect sufficient information before deciding whether it needs the new source of energy. It would take another seven years to build a plant, which must start feeding power into the system in 2020-2021, he said.

Piyasvasti insisted that going nuclear was inevitable because higher oil prices had raised power-generating costs. The cost of electricity generated from natural gas will rise from 2 baht per unit to 2.50 baht per unit from once the country starts importing liquefied natural gas. Electricity from coal-powered plants and bunker oil costs 2 baht per unit and 4.50 baht, respectively, compared with less than 2 baht per unit from nuclear plants.

Meanwhile, Thailand is trying to purchase 7,000 megawatts of power from Laos, up from 3,000MW, as well as reach power deals with other countries, he said.

Thanawat Phonvichai, director of the Business and Economic Forecast Centre of the University of Thai Chamber of Commerce, said he favoured nuclear power due to its low cost and global recognition for safety.

"This will ensure energy security. All factories need power. With power shortages, Thailand will not be attractive to foreign investors in the long term," he said.

He said it was a misperception that Thailand could avoid the threat of radioactive fallout by shunning nuclear power, now that Indonesia and Viet Nam have already decided to use the technology. A nuclear power plant at home would also mean tighter safety regulations, he added.

Will nuclear power slowly dominate the energy sector?