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Publicatie Laka-bibliotheek:
The economics of nuclear power: An update: publication series on ecology (2010)

Auteur	S.Thomas, H.Böll Foundation
Datum	maart 2010
Classificatie	6.01.0.10/86 (KOSTEN)
Voorkant

INTRODUCTION

The severe challenge posed by the need to reduce emissions of greenhouse gases, 
especially in the electricity generation sector, has led to renewed interest in the 
construction of nuclear power plants. These would initially replace the aging stock 
of existing reactors, then meet electricity demand growth, and eventually replace 
some of the fossil-fired electricity-generating plants. They would also be built in 
new markets that up to now have not used nuclear power. In the longer term, the 
promise is that nuclear power could take over some of the energy needs currently 
being met by direct use of fossil fuels. For example, nuclear power plants could 
be used to manufacture hydrogen, which would replace use of hydrocarbons in 
road vehicles.

The public is understandably confused about whether nuclear power really is a 
cheap source of electricity. Cost estimates for new nuclear plants have been 
escalating at an alarming rate, and in the past decade, construction cost-estimates 
have increased five-fold, with every expectation that costs will increase further as 
the designs are firmed up. Yet, in recent years, governments such as those of the 
United States, the United Kingdom, Germany, and Italy have become increasingly 
determined in their attempts to maintain existing nuclear plants in service and 
revive nuclear ordering, on the grounds that nuclear power is the most cost-
effective way to combat climate change.
Utilities are determined to operate their existing plants for as long as possible and 
have given verbal support to the need for new nuclear power plants, but they are 
reluctant to build new nuclear power plants without cost- and market guarantees 
and subsidies. Some of this apparent paradox is relatively easily explained by the 
difference between the running costs only of nuclear power, which are usually 
relatively low, and the overall cost of nuclear power- including repayment of the 
construction cost - which is substantially higher. Thus, once a nuclear power plant 
has been built, it may make economic sense to keep the plant in service even if the 
overall cost of generation, including the construction cost, is higher than the 
alternatives. The cost of building the plant is a "sunk" cost that cannot be 
recovered, and the marginal cost of generating an additional kWh could be small.

The objective of this report is to identify the key economic parameters that 
determine the cost of nuclear electricity, commenting on their determining factors. 
It shows that without subsidies and guarantees from electricity consumers and 
taxpayers, new nuclear power plants will not be built.

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