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

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USD/MWh 70 60 Figure 3.5 – Levelised costs of gas generated electricity at 5% discount rate (USD/MWh) Fuel O&M Investment 50 40 30 20 10 0 CAN-G USA-G1 USA-G2 BEL-G CZE-G FRA-G DEU-G GRC-G1 GRC-G2 ITA-G1 ITA-G2 ITA-G3 NLD-G PRT-G SVK-G CHE-G1 CHE-G2 CHE-G3 TUR-G1 TUR-G2 JPN-G KOR-G ZAF-G1 At 10% discount rate (see Figure 3.6), levelised costs of gas-fired plants range between 40 and 63 USD/MWh. They are barely higher than at 5% discount rate owing to their low overnight construction costs and very short construction periods. Fuel cost remains the major contributor to total generation cost with a slightly lower share – 73% – than at 5% discount rate, while investment and O&M shares are around 20% and 7%. USD/MWh 70 60 Figure 3.6 – Levelised costs of gas generated electricity at 10% discount rate (USD/MWh) Fuel O&M Investment 50 40 30 20 10 0 CAN-G USA-G1 USA-G2 BEL-G CZE-G FRA-G DEU-G GRC-G1 GRC-G2 ITA-G1 ITA-G2 ITA-G3 NLD-G PRT-G SVK-G CHE-G1 CHE-G2 CHE-G3 TUR-G1 TUR-G2 JPN-G KOR-G ZAF-G1 42
Nuclear power plants Overnight construction costs Figure 3.7 – Specific overnight construction costs of nuclear power plants (USD/kWe) USD/kWe 2 500 2 000 1 500 1 000 500 0 CAN-N USA-N CZE-N FIN-N FRA-N DEU-N NLD-N SVK-N CHE-N JPN-N KOR-N1 KOR-N2 The specific overnight construction costs, not including refurbishment or decommissioning, of the nuclear power plants included in the study are displayed in Figure 3.7 and in Table 3.12 at the end of the chapter. Those costs vary between 1 000 and 2 000 USD/kWe for most plants. However, the nuclear plant in the Netherlands has an overnight construction cost slightly above 2 100 USD/kWe and the nuclear plant of Japan has an overnight construction cost exceeding slightly 2 500 USD/kWe. It should be noted that the total levelised investment costs calculated in the study and presented below include in addition to the construction cost, refurbishment and decommissioning costs and interest during construction. Construction time Although the construction times of nuclear power plants have been sometimes rather long in the past, many recent nuclear power plants were constructed and put into service within no more than four years. The schedules for construction expenses reported in the responses to the questionnaire vary significantly from country to country. As shown in Table 3.7, the total expense period ranges from five years in three countries to ten years in one country. In nearly all countries, however, 90% or more of the expenses are incurred within five years or less; the expenses during the earlier years generally correspond to activities prior to construction per se. For example in France, expenses during years -9 to -6 correspond to engineering studies and down payment of some components, in Romania expenses in year -6 and before correspond to preliminary studies and in Canada the expense schedule reflects down payments before construction also. Table 3.7 – Expense schedule for nuclear power plant construction (% of total overnight construction cost per year) CAN a USA CZE FIN FRA b DEU NLD SVK CHE JPN KOR-N1 KOR-N2 ROU c -9 1 -8 1.5 1 16.5 -7 2 0.1 0.3 12.5 -6 10 1 7 2.9 3 5 2.5 3.5 12.5 -5 8 20 9 10 15.5 10 20 11 19 15 8 12.2 12.5 -4 22 20 17 22 22 15 20 18 19.5 20 24.5 24 12.5 -3 29 20 17 28 21 22 20 24.5 19.5 20 40 37.5 16.5 -2 21 20 33 20 18 30 20 26.5 19.5 18.5 22 20 12.5 -1 12.5 10 23 20 10 23 20 16 19.5 21.5 3 2.5 4.5 1 7.5 2 a. Expenses in year -5 are down payment. b. Expenses in years -9 to -6 are for studies. c. Construction time is 5 years. ROU-N 43
Page 1: NUCLEAR ENERGY AGENCY INTERNATIONAL
Page 4: ORGANISATION FOR ECONOMIC CO-OPERAT
Page 9 and 10: Table of Contents Table of Contents
Page 11: Figures Figure 3.1 Specific overnig
Page 14 and 15: The introduction of liberalisation
Page 16 and 17: 150 USD/MWh at a 5% discount rate a
Page 18 and 19: The technologies and plant types co
Page 20 and 21: locations and/or very favourable co
Page 22 and 23: conclusions of the study were used
Page 25 and 26: Chapter 2 Input Data and Cost Calcu
Page 27 and 28: equipped with emission control devi
Page 29 and 30: Table 2.2 - Exchange rates (as of 1
Page 31 and 32: Table 2.4 - Coal plant specificatio
Page 33 and 34: Table 2.7 - Wind and solar power pl
Page 35: Table 2.10 - Other plant specificat
Page 38 and 39: Figure 3.1 - Specific overnight con
Page 40 and 41: exchange rates, the coal prices var
Page 42 and 43: Construction time Gas-fired power p
Page 46 and 47: O&M costs The specific annual O&M c
Page 48 and 49: Cost ranges for coal, gas and nucle
Page 50 and 51: Ratio 1.9 Figure 3.12 - Cost ratios
Page 52 and 53: Table 3.11 - Overnight construction
Page 54 and 55: Table 3.14 - Projected generation c
Page 56 and 57: Except for the offshore plant in th
Page 58 and 59: At 10% discount rate, the levelised
Page 60 and 61: At 5% discount rate, hydroelectrici
Page 64 and 65: Table 4.6 - Projected generation co
Page 66 and 67: A CHP plant typically supplies heat
Page 70 and 71: Figure 5.2 - Levelised costs of ele
Page 72 and 73: lower unit capital and operating co
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 92 and 93: Overnight Capital Costs: Constructi
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Overnight Capital Costs: Constructi
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Cost structure of supported green e
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The highest investment cost arises
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The expected development of the per
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● ● Autoproducers. These firms
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Canada The electricity market situa
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Natural gas - combined cycle gas tu
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Denmark Basic data Denmark has abou
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In the future, both an increase in
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nuclear operator Teollisuuden Voima
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these power generation methods. Two
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Figure 5 - Competitiveness of vario
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2004. It envisages the gradual incr
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Table 4 - Gross electricity supply
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● ● ● ● ● ● ● ● ●
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Electricity generation costs The to
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photovoltaic device. Finally the su
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Table 1 - Installed electric power
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Japan Consumers in Japan are suppli
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BPE will be established not as a bi
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Coal Coal fired power plants have b
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A new sewage treatment plant with a
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The interconnections between Portug
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In order to respond to these basic
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efficient energies and is reducing
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Liberalisation Basic restructuring
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External costs for electricity prod
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At the beginning of plant operation
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and high ash, moisture and sulphur
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The White Paper did not contain pro
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Table 7 shows the projected load fa
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other investment options available
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The impurities contained in coal ar
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“ultra-supercritical” condition
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unmineable coal seams. All three pr
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Light water reactors require enrich
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concerns. Consequently, the natural
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generators and power electronics el
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conventional fossil-fired plants. B
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● ● 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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