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Nuclear power: Understanding the economic risks and uncertainties

  • Kessides, Ioannis N.

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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File URL: http://www.sciencedirect.com/science/article/B6V2W-4YVP19F-1/2/e7777792129063288e9fae5c9aa44f13
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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
Contact details of provider: Web page: http://www.elsevier.com/locate/enpol

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  1. Gollier, Christian, 2004. "Choice of Nuclear Power Investments under Price Uncertainty: Valuing Modularity," IDEI Working Papers 287, Institut d'Économie Industrielle (IDEI), Toulouse.
  2. 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.
  3. Rothwell, Geoffrey, 2010. "International light water nuclear fuel fabrication supply: Are fabrication services assured?," Energy Economics, Elsevier, vol. 32(3), pages 538-544, May.
  4. Geoffrey Rothwell, 2009. "Market Power in Uranium Enrichment," Discussion Papers 08-032, Stanford Institute for Economic Policy Research.
  5. Cabrera-Palmer, Belkis & Rothwell, Geoffrey, 2008. "Why is Brazil enriching uranium?," Energy Policy, Elsevier, vol. 36(7), pages 2570-2577, July.
  6. Fabien A. Roques & William J. Nuttall & David M. Newbery & Richard de Neufville & Stephen Connors, 2006. "Nuclear Power: A Hedge against Uncertain Gas and Carbon Prices?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 1-24.
  7. 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.
  8. Chapman, Chris & Ward, Stephen, 1996. "Valuing the flexibility of alternative sources of power generation," Energy Policy, Elsevier, vol. 24(2), pages 129-136, February.
  9. 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.
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