Abstract
The cost of electricity from a coal-fired power station depends on the capital cost of building the plant, the cost of servicing any loans taken to finance the project, the cost of operating and maintaining the plant over its lifetime and the cost of the fuel needed to fire the power station. All these factors can be estimated before a power plant is constructed using an economic lifetime model called the levelized cost of power (LCOE) model. Using this model it is possible to compare the expected cost of electricity from different types of power generation technology in order to find the most economical in any given situation. While the model is far from perfect it can offer valuable guidance, if used correctly, when considering new power generating capacity.
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