The FuTure oF nuclear Fuel cycle - MIT Energy Initiative

Table 7.4 The LCOE for the Fast Reactor Cycle (CR=1)
light Water Reactor
(mill/kWh)
[1] raw uranium 2.76
[2] Fuel Production 4.35
[3] Front-end Fuel cycle 7.11
[4] capital charge 67.68
[5] o&M costs (non-fuel) 7.72
[6] reprocessing 2.36
[7] hlW disposal 0.40
[8] reprocessed uranium -0.14
[9] Transuranics 1.43
[10] Back-end Fuel cycle 4.06
[11] lCoe total 86.57
fast Reactor
(mill/kWh)
[12] depleted uranium 0.02
[13] Transuranics -19.72
[14] Fuel Production 4.05
[15] Front-end Fuel cycle -15.66
[16] capital charge 81.22
[17] o&M costs (non-fuel) 9.26
[18] reprocessing 2.66
[19] hlW disposal 0.34
[20] depleted uranium -0.01
[21] Transuranics 8.75
[22] Back-end Fuel cycle 11.74
[23] lCoe total 86.57
Once again, for the light water reactor burning fresh
UOX fuel, the front-end fuel costs, reactor costs and
non-fuel operating and maintenance costs—lines
[1]-[5]—are identical to those for the Once-Through
Cycle. The back-end fuel cycle cost is composed of
the costs of reprocessing, the cost of disposing of the
separated high level wastes, the credits earned for the
stream of separated uranium and the charge paid for
the separated transuranics—lines [6]-[9] summing
up to line [10]. The costs of reprocessing, levelized
across the electricity produced by the fuel being reprocessed,
is 2.36 mill/kWh. The cost of disposing of
the stream of separated fission products is 0.40 mill/
kWh. The credit for recovery of uranium is 0.14 mill/
kWh. Finally, a negative value is assigned to the separated
transuranics, -$80,974/kgHM, so that the allocated
charge for the separated transuranics is 1.43
mill/kWh. Combining these four elements, the total
back-end fuel cycle cost for this reactor is 4.06 mill/
kWh. The total LCOE for the LWR reactor in this fuel
cycle is 86.57 mill/kWh.
The fast reactor’s combined front-end fuel cost—line
[15]—is negative, -15.66 mill/kWh. This is because
of the large credit earned for accepting the recycled
transuranics embedded in the fuel it purchases, -19.72
mill/kWh—line [13]. It will have to pay 0.02 mill/kWh
for the depleted uranium required for the fuel, and a
charge equivalent to 4.05 mill/kWh for the fabrication
of the fuel—lines [12] and [14]. Capital and operating
costs are assumed to be 20% larger for a fast reactor
as compared to a light water reactor, yielding a capital
charge of 81.22 mill/kWh and a non-fuel operating
and maintenance charge of 9.26 mill/kWh—lines [16]
and [17]. At the back-end, the spent fast reactor fuel
is again reprocessed, separating out a mix of uranium
and transuranics and leaving a stream of high level waste composed of the fission products.
The cost of this separation is 2.66 mill/kWh—line [18]. The cost of disposing of the high
level waste is 0.34 mill/kWh—line [19]. The credit for the uranium is 0.01 mill/kWh, and
the charge for the recovered transuranics is -8.75 mill/kWh—lines [20] and [21]. Therefore,
the total back-end fuel cycle cost is 11.74 mill/kWh—line [22]. The final LCOE for the fast
reactor is 86.57 mill/kWh.
[24] Price of transuranics, $/kghM -80,974
Comparing the Levelized Costs Across Cycles
The most important conclusion to draw from a comparison of the levelized cost across the
three fuel cycle is that the differences between them are small relative to the total cost of
electricity. The highest cost among the three, the Fast Reactor Recycle, is 2.76 mills/kWh
more expensive than the lowest cost, the Once-Through Cycle. This amounts to less than
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