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Nuclear power: Understanding the economic risks and uncertainties

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  • Kessides, Ioannis N.

Abstract

This paper identifies the fundamental elements and critical research tasks of a comprehensive analysis of the costs and benefits of nuclear power relative to investments in alternative baseload technologies. The proposed framework seeks to: (i) identify the set of expected parameter values under which nuclear power becomes cost competitive relative to alternative generating technologies; (ii) identify the main risk drivers and quantify their impacts on the costs of nuclear power; (iii) estimate the nuclear power option value; (iv) assess the nexus between electricity market structure and the commercial attractiveness of nuclear power; (v) evaluate the economics of smaller sized nuclear reactors; (vi) identify options for strengthening the institutional underpinnings of the international safeguards regime; and (vii) evaluate the proliferation resistance of new generation reactors and fuel cycles.

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Bibliographic Info

Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 38 (2010)
Issue (Month): 8 (August)
Pages: 3849-3864

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Handle: RePEc:eee:enepol:v:38:y:2010:i:8:p:3849-3864

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Web page: http://www.elsevier.com/locate/enpol

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Keywords: Nuclear power Nuclear power economics Future of nuclear power;

References

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  1. Chapman, Chris & Ward, Stephen, 1996. "Valuing the flexibility of alternative sources of power generation," Energy Policy, Elsevier, vol. 24(2), pages 129-136, February.
  2. Gollier, Christian & Proult, David & Thais, Françoise & Walgenwitz, Gilles, 2004. "Choice of Nuclear Power Investments ander Price Uncertainty: Valuing Modularity," IDEI Working Papers 270, Institut d'Économie Industrielle (IDEI), Toulouse.
  3. Cabrera-Palmer, Belkis & Rothwell, Geoffrey, 2008. "Why is Brazil enriching uranium?," Energy Policy, Elsevier, vol. 36(7), pages 2570-2577, July.
  4. Roques, Fabien A. & Newbery, David M. & Nuttall, William J., 2008. "Fuel mix diversification incentives in liberalized electricity markets: A Mean-Variance Portfolio theory approach," Energy Economics, Elsevier, vol. 30(4), pages 1831-1849, July.
  5. Spinney, Peter J & Watkins, G Campbell, 1996. "Monte Carlo simulation techniques and electric utility resource decisions," Energy Policy, Elsevier, vol. 24(2), pages 155-163, February.
  6. Geoffrey Rothwell, 2006. "A Real Options Approach to Evaluating New Nuclear Power Plants," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 87-54.
  7. Roques, F.A. & Nuttall, W.J. & Newbery, D.M. & de Neufville, R., 2005. "Nuclear Power: a Hedge against Uncertain Gas and Carbon Prices?," Cambridge Working Papers in Economics 0555, Faculty of Economics, University of Cambridge.
  8. Rothwell, Geoffrey, 2010. "International light water nuclear fuel fabrication supply: Are fabrication services assured?," Energy Economics, Elsevier, vol. 32(3), pages 538-544, May.
  9. repec:reg:wpaper:539 is not listed on IDEAS
  10. Geoffrey Rothwell, 2009. "Market Power in Uranium Enrichment," Discussion Papers 08-032, Stanford Institute for Economic Policy Research.
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Cited by:
  1. Milstein, Irena & Tishler, Asher, 2011. "Intermittently renewable energy, optimal capacity mix and prices in a deregulated electricity market," Energy Policy, Elsevier, vol. 39(7), pages 3922-3927, July.
  2. Jacobson, Mark Z. & Delucchi, Mark A., 2011. "Providing all global energy with wind, water, and solar power, Part I: Technologies, energy resources, quantities and areas of infrastructure, and materials," Energy Policy, Elsevier, vol. 39(3), pages 1154-1169, March.
  3. Roh, Seungkook & Kim, Wonjoon, 2014. "How can Korea secure uranium enrichment and spent fuel reprocessing rights?," Energy Policy, Elsevier, vol. 68(C), pages 195-198.
  4. Adela Conchado & Pedro Linares, 2010. "The Economics of New Nuclear Power Plants in Liberalized Electricity Markets," Working Papers 04-2010, Economics for Energy.

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