Projected Costs of Generating Electricity - OECD Nuclear Energy ...

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Electricity generation costs The total power generating costs consist of the overnight capital costs, operation and maintenance (O&M) costs and fuel costs. Costs for refurbishment are considered as “fixed operating costs” and are covered by the O&M costs. The credits of the heat generation of CHP plants are taken into account. For intermittent sources of electricity generation like hydro, wind and solar, additional costs have to be included considering adequate standby generation. This is done by accounting for the specific back-up costs. The method of determination of back-up cost is described later in this chapter. The resulting total specific power generating costs of the power plants considered are shown in Figure 1. Electricity generation costs are calculated with an interest rate of 5%. It is assumed that the depreciation time is equal to the technical lifetime of a plant and that the average load factor of the nuclear, fossil as well as of the CHP plants is 85%. Referring to Figure 1 the lowest power generation costs of about 23.8 €/MWh are determined for the European pressurised water reactor (EPR) and the highest costs of about 356 €/MWh are for the photovoltaic plant of roof panels [PV (roof panel)]. In Figure 2 the power generation costs of nuclear and thermal power plants as a function of the annual operation hours are shown. The investment costs are calculated with a discount rate of 5% and 10%. The coal-fired integrated gasification combined cycle with equipment for CO 2 capture (IGCC with CO 2 capture) has the highest costs of generating electricity, regardless of the amount of operating hours. At a 5% discount rate nuclear power has the lowest generation cost, whereas at a 10% discount rate the cost are lowest for the lignite power plant. The impact of the emissions trading on the electricity generation cost of the various power plants is shown in Figure 3. The biggest impact is seen for the lignite-fired power plant [PFC (lignite)] followed by the hard coal-fired power plant [PFC (hard coal)]. With an assumed emission price of 20 €/tCO 2 the power generation costs of the lignite-fired power plant would increase by 63% from 25.4 €/MWh to 41.4 €/MWh, whereas the generation costs of the hard coal-fired [PFC (hard coal)] would rise by 48% from 30.2 €/MWh to 44.8 €/MWh. In the 20 €/tCO2 case generation cost of the coal-fired integrated gasification combined cycle (IGCC) would be highest (49.7 €/MWh) and extend the cost of the IGCC plant with CO 2 capture. €/MWh 350 300 250 Figure 1 – Comparison of the power generation costs among the considered technologies Investment O&M Fuel cycle Heat credits Min. back-up costs Additional max. back-up costs 100 50 0 EPR PFC (hard coal) IGCC (hard coal) IGCC with CO2 capture PFC (lignite) CCGT CHP ST, extraction CHP ST, back-pressure CHP CCGT, extraction CHP CCGT, back-pressure Run of the river 122 Onshore wind (5.5) Onshore wind (6.5) Offshore wind (8.0) PV (roof panel) PV (plant size) Biogas unit
Figure 2 – Power generation costs as a function of the annual hours of operation €/MWh 70 60 50 40 IGCC with CO 2 capture IGCC hard coal CCGT PFC (hard coal) PFC (lignite) EPR 10% 5% 10% 5% 10% 5% 10% 5% 10% 5% 10% 5% 30 20 4 000 4 500 5 000 5 500 6 000 6 500 7 000 7 500 8 000 h/a Figure 3 – Comparison of power generation costs showing the impact of emission trading €/MWh 50 40 30 Additional costs of CO 2 emissions for 20 €/t CO 2 Additional costs of CO 2 emissions for 10 €/t CO 2 Fuel cycle costs Costs for O&M Investment costs 20 10 0 EPR PCF (hard coal) IGCC hard coal IGCC with CO 2 capture PFC (lignite) CCGT The method of calculating back-up costs Wind or solar power corresponds with demand for electricity only to a limited extent. Therefore, storage systems or conventional power plants are necessary for power generation to coincide with demand. The back-up costs can be calculated which correspond to the surcharge caused by this limited correspondence. They are added to the costs of power generated by the wind energy converter or 123
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NUCLEAR ENERGY AGENCY INTERNATIONAL
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ORGANISATION FOR ECONOMIC CO-OPERAT
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Table of Contents Table of Contents
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Figures Figure 3.1 Specific overnig
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The introduction of liberalisation
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150 USD/MWh at a 5% discount rate a
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The technologies and plant types co
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locations and/or very favourable co
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conclusions of the study were used
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Chapter 2 Input Data and Cost Calcu
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equipped with emission control devi
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Table 2.2 - Exchange rates (as of 1
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Table 2.4 - Coal plant specificatio
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Table 2.7 - Wind and solar power pl
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Table 2.10 - Other plant specificat
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Figure 3.1 - Specific overnight con
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exchange rates, the coal prices var
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Construction time Gas-fired power p
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USD/MWh 70 60 Figure 3.5 - Levelise
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O&M costs The specific annual O&M c
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Cost ranges for coal, gas and nucle
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Ratio 1.9 Figure 3.12 - Cost ratios
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Table 3.11 - Overnight construction
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Table 3.14 - Projected generation c
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Except for the offshore plant in th
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At 10% discount rate, the levelised
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At 5% discount rate, hydroelectrici
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Table 4.6 - Projected generation co
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A CHP plant typically supplies heat
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Figure 5.2 - Levelised costs of ele
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lower unit capital and operating co
Page 74 and 75: Table 6.5 - Overnight construction
Page 76 and 77: cost calculation for some 130 power
Page 78 and 79: It should be stressed that the plan
Page 80 and 81: Concluding remarks The lowest level
Page 82 and 83: Portugal Mr. António B. Gomes EDP
Page 84 and 85: Table A2.1 - Nuclear plant investme
Page 86 and 87: Overnight Capital Costs: Constructi
Page 88 and 89: Table A2.7 - Gas-fired (including C
Page 90 and 91: Table A2.10 - Wind plant investment
Page 96 and 97: Cost structure of supported green e
Page 98 and 99: The highest investment cost arises
Page 100 and 101: The expected development of the per
Page 102 and 103: ● ● Autoproducers. These firms
Page 104 and 105: Canada The electricity market situa
Page 106 and 107: Natural gas - combined cycle gas tu
Page 108 and 109: Denmark Basic data Denmark has abou
Page 110 and 111: In the future, both an increase in
Page 112 and 113: nuclear operator Teollisuuden Voima
Page 114 and 115: these power generation methods. Two
Page 116 and 117: Figure 5 - Competitiveness of vario
Page 118 and 119: 2004. It envisages the gradual incr
Page 120 and 121: Table 4 - Gross electricity supply
Page 122 and 123: ● ● ● ● ● ● ● ● ●
Page 126 and 127: photovoltaic device. Finally the su
Page 128 and 129: Table 1 - Installed electric power
Page 130 and 131: Japan Consumers in Japan are suppli
Page 132 and 133: BPE will be established not as a bi
Page 134 and 135: Coal Coal fired power plants have b
Page 136 and 137: A new sewage treatment plant with a
Page 138 and 139: The interconnections between Portug
Page 140 and 141: In order to respond to these basic
Page 142 and 143: efficient energies and is reducing
Page 144 and 145: Liberalisation Basic restructuring
Page 146 and 147: External costs for electricity prod
Page 148 and 149: At the beginning of plant operation
Page 150 and 151: and high ash, moisture and sulphur
Page 152 and 153: The White Paper did not contain pro
Page 154 and 155: Table 7 shows the projected load fa
Page 156 and 157: other investment options available
Page 158 and 159: The impurities contained in coal ar
Page 160 and 161: “ultra-supercritical” condition
Page 162 and 163: unmineable coal seams. All three pr
Page 164 and 165: Light water reactors require enrich
Page 166 and 167: concerns. Consequently, the natural
Page 168 and 169: generators and power electronics el
Page 170 and 171: conventional fossil-fired plants. B
Page 172 and 173: ● ● very effective and is used
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Appendix 5 Cost Estimation Methodol
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into account in the real price of g
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● ● ● ● Factors under the c
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and small power plants. Although th
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The general approach remains useful
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Two US economic analyses of nuclear
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assume future prices follow a rando
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The effects of price risk on techno
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The option to delay is embedded in
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Appendix 7 Allocating the Costs and
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Further Fourier’s law for heat tr
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Figure A7.4 - The energy conversion
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This yields: β = 0.153 α. If α e
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It is emphasised that depending on
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1 st oil shock 2 nd oil shock Saudi
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Table A8.2 - Expected lower and upp
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Reliability in electricity systems
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is also highly dependent on the typ
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In the ILEX study 5 and in another
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an increasing share of wind is the
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able to work out the optimal operat
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Appendix 10 Impact of Carbon Emissi
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costs of generation. The introducti
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price at 3.5 €/GJ are the next fa
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Figure A10.5 - Steam coal price var
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The longer term impact on investmen
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Appendix 11 List of Main Abbreviati
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