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Cost probability analysis of reprocessing spent nuclear fuel in the US

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  • Recktenwald, G.D.
  • Deinert, M.R.

Abstract

The methods by which nuclear power's radioactive signature could be reduced typically require the reprocessing of spent nuclear fuel. However, economic assessments of the costs that are associated with doing this are subject to a high degree of uncertainty. We present a probabilistic analysis of the costs to build, operate and decommission the facilities that would be required to reprocess all US spent nuclear fuel generated over a one hundred year time frame, starting from a 2010 power production rate. The analysis suggests a total life-cycle cost of 2.11±0.26mills/kWh, with a 90% and 99% confidence that the overall cost would remain below 2.45 and 2.75mills/kWh respectively. The most significant effects on cost come from the efficiency of the reactor fleet and the growth rate of nuclear power. The analysis shows that discounting results in life-cycle costs decreasing as recycling is delayed. However the costs to store spent fuel closely counter the effect of discounting when an intergenerational discount rate is used.

Suggested Citation

  • Recktenwald, G.D. & Deinert, M.R., 2012. "Cost probability analysis of reprocessing spent nuclear fuel in the US," Energy Economics, Elsevier, vol. 34(6), pages 1873-1881.
    • Handle: RePEc:eee:eneeco:v:34:y:2012:i:6:p:1873-1881
    DOI: 10.1016/j.eneco.2012.07.016
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    References listed on IDEAS

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    1. Schneider, E.A. & Deinert, M.R. & Cady, K.B., 2009. "Cost analysis of the US spent nuclear fuel reprocessing facility," Energy Economics, Elsevier, vol. 31(5), pages 627-634, September.
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    Cited by:

    1. Geoff Recktenwald & Mark Deinert, 2013. "Effect of Burnable Absorbers on Inert Matrix Fuel Performance and Transuranic Burnup in a Low Power Density Light-Water Reactor," Energies, MDPI, vol. 6(4), pages 1-14, April.
    2. B. Yolanda Moratilla Soria & Rosario Ruiz-Sánchez & Mathilde Estadieu & Borja Belda-Sánchez & Cristina Cordón-Peralta & Paula Martín-Cañas & Laura Rodriguez-Penalonga & M. Del Mar Cledera-Castro & M. , 2015. "Impact of the Taxes on Used Nuclear Fuel on the Fuel Cycle Economics in Spain," Energies, MDPI, vol. 8(2), pages 1-14, February.

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    1. B. Yolanda Moratilla Soria & Rosario Ruiz-Sánchez & Mathilde Estadieu & Borja Belda-Sánchez & Cristina Cordón-Peralta & Paula Martín-Cañas & Laura Rodriguez-Penalonga & M. Del Mar Cledera-Castro & M. , 2015. "Impact of the Taxes on Used Nuclear Fuel on the Fuel Cycle Economics in Spain," Energies, MDPI, vol. 8(2), pages 1-14, February.
    2. Geoff Recktenwald & Mark Deinert, 2013. "Effect of Burnable Absorbers on Inert Matrix Fuel Performance and Transuranic Burnup in a Low Power Density Light-Water Reactor," Energies, MDPI, vol. 6(4), pages 1-14, April.

    More about this item

    Keywords

    Reprocessing; Nuclear power; Spent fuel;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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