Advanced Fuel Cycle Economic Tools, Algorithms, and Methodologies

Abstract

The Advanced Fuel Cycle Initiative (AFCI) Systems Analysis supports engineering economic analyses and trade-studies, and requires a requisite reference cost basis to support adequate analysis rigor. In this regard, the AFCI program has created a reference set of economic documentation. The documentation consists of the “Advanced Fuel Cycle (AFC) Cost Basis” report (Shropshire, et al. 2007), “AFCI Economic Analysis” report, and the “AFCI Economic Tools, Algorithms, and Methodologies Report.” Together, these documents provide the reference cost basis, cost modeling basis, and methodologies needed to support AFCI economic analysis. The application of the reference cost data in the cost and econometric systems analysis models will be supported by this report. These methodologies include: the energy/environment/economic evaluation of nuclear technology penetration in the energy market—domestic and internationally—and impacts on AFCI facility deployment, uranium resource modeling to inform the front-end fuel cycle costs, facility first-of-a-kind to nth-of-a-kind learning with application to deployment of AFCI facilities, cost tradeoffs to meet nuclear non-proliferation requirements, and international nuclear facility supply/demand analysis. The economic analysis will be performed using two cost models. VISION.ECON will be used to evaluate and compare costs under dynamic conditions, consistent with the cases and analysis performed by the AFCI Systems Analysis team. Generation IV Excel Calculations of Nuclear Systems (G4-ECONS) will provide static (snapshot-in-time) cost analysis and will provide a check on the dynamic results. In future analysis, additional AFCI measures may be developed to show the value of AFCI in closing the fuel cycle. Comparisons can show AFCI in terms of reduced global proliferation (e.g., reduction in enrichment), greater sustainability through preservation of a natural resource (e.g., reduction in uranium ore depletion), value from weaning the U.S. from energy imports (e.g., measures of energy self-sufficiency), and minimization of future high level waste (HLW) repositories world-wide.