Advanced design nuclear power plants: Competitive, economical electricity. An analysis of the cost of electricity from coal, gas and nuclear power plants

Abstract

This report presents an updated analysis of the projected cost of electricity from new baseload power plants beginning operation around the year 2000. Included in the study are: (1) advanced-design, standardized nuclear power plants; (2) low emissions coal-fired power plants; (3) gasified coal-fired power plants; and (4) natural gas-fired power plants. This analysis shows that electricity from advanced-design, standardized nuclear power plants will be economically competitive with all other baseload electric generating system alternatives. This does not mean that any one source of electric power is always preferable to another. Rather, what this analysis indicates is that, as utilities and others begin planning for future baseload power plants, advanced-design nuclear plants should be considered an economically viable option to be included in their detailed studies of alternatives. Even with aggressive and successful conservation, efficiency and demand-side management programs, some new baseload electric supply will be needed during the 1990s and into the future. The baseload generating plants required in the 1990s are currently being designed and constructed. For those required shortly after 2000, the planning and alternatives assessment process must start now. It takes up to ten years to plan, design, license and construct a new coal-fired or nuclear fueled baseload electric generating plant and about six years for a natural gas-fired plant. This study indicates that for 600-megawatt blocks of capacity, advanced-design nuclear plants could supply electricity at an average of 4.5 cents per kilowatt-hour versus 4.8 cents per kilowatt-hour for an advanced pulverized-coal plant, 5.0 cents per kilowatt-hour for a gasified-coal combined cycle plant, and 4.3 cents per kilowatt-hour for a gas-fired combined cycle combustion turbine plant.