ORNL-5388 - the Molten Salt Energy Technologies Web Site

SRCIFIED CONSTRUCTION
LlMllLD INTRODUCTION SRCIFIEO MARE1
mcmR DESIGNS OBSOLLSCENT MSIGNS
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Fig. 6.1-5. Model for Nuclear Systems
Assessment Study.
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Fig. 6.1-6. .Nuclear Fuel-Cycle Model.
As Fig. 6.1-7 illustrates, the total levelized power cost of a reactor concept insofar
as an intercomparison of concepts is concerned is dominated by the uncertainties.
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In partic-
ular, the total power costs for those concepts possessing the greatest resource saving (the
HWR and the FBR) exhibit the greatest uncertainties. The effect of the price of U308 is also
significant.
is significantly lower if the price of U308 i n the year of startup is $40/lb rather than
$1 40/ 1 b.
Figure 6.1-7 shows that the total power cost of the LWR on the throwaway cycle
. The levelized power costs given for each reactor system in Fig. 6.1-7 were determined
from the sum of the discounted values of the cash flows associated with the system divided
by the discounted electrical energy production.
investment, including the return of the investment and the return on the investment; (2)
fixed charges, such as capital replacements, nuclear liability insurance, etc.; (3) opera-
tion and maintenance costs; (4) income taxes; and (5) fuel expenses. The first four items
are relatively straightforward, with the relevant data given in Appendix B.
item, however, merits some additional discussion, particularly as fuel expenses relate to
the valuation of the bred fissile material. For these calculations the cost of bred fis-
sile material was taken to be the "shadow price," which is the value of an additional unit
of fissile material to the particular scenario in question.
The cash flows considered were: (1) capital
The fifth
The shadow price calculated for the bred fissile material is directly related to the
U308 prices at and subsequent to the valuation point in time. The value of the bred fis-
sile material thus increases with increasing U30, price which in turn increases as a func-
tion of the cumulative quantity consumed.
unit of 233U or Pu will postpone the purchase of an equivalent amount of U308, the delay
having a dollar value due to the use of discounted cash flows. For those scenarios which
are not resource-limited, an additional unit of bred fissile material permits the elimina-
tion of an equivalent amount of U308.
For the resource-limited scenarios, an additional
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