Carbon black with high purity and excellent conductivity is used as a conductive filler in the semiconductive compound for EHV (Extra High Voltage) power cables of 345 kV or higher. When carbon black and CNT (carbon nanotube) are applied together as a conductive filler of a semiconductive compound, stable electrical properties of the semiconductive compound can be maintained even though the amount of conductive filler is significantly reduced. In EHV power cables, since the semi-conductive layer is close to the conductor, stable electrical characteristics are required even under high-temperature conditions caused by heat generated from the conductor. In this study, the theoretical principle that a semiconductive compound applied with carbon black and CNT can maintain excellent electrical properties even under high-temperature conditions was studied. Basically, the conductive fillers dispersed in the matrix form an electrical network. The base polymer and the matrix of the composite, expands by heat under high temperature conditions. Because of this, the electrical network connected by the conductive fillers is weakened. In particular, since the conductive filler has high thermal conductivity, the semiconductive compound causes more thermal expansion. Therefore, the effect of CNT as a conductive filler on the thermal conductivity, thermal expansion coefficient, and volume resistivity of the semiconductive compound was studied. From this result, thermal expansion and composition of the electrical network under high temperature conditions are explained.