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Costs and benefits of relaunching nuclear energy in Italy

Author

Listed:
  • Ivan Faiella

    () (Banca d'Italia)

  • Luciano Lavecchia

    () (Banca d'Italia)

Abstract

This paper supplies elements for assessing the costs and benefits of electronuclear energy in order to pursue three objectives: security of supply, cost reduction, and environmental sustainability. The study reached the following conclusions: 1) the use of nuclear energy increases the diversification of the energy mix and of energy suppliers, raising energy security levels, but it does not reduce Italy�s dependence on foreign energy; 2) the use of nuclear energy would not imply a reduction in power generation costs, but it would contain their volatility, with benefits in terms of decreasing uncertainty; 3) environmental impacts would differ depending on the time horizon considered: in the medium term, this technology would provide an important contribution to curbing greenhouse gas emissions; the long-term effects are more ambiguous and raise important intergenerational issues.

Suggested Citation

  • Ivan Faiella & Luciano Lavecchia, 2012. "Costs and benefits of relaunching nuclear energy in Italy," Questioni di Economia e Finanza (Occasional Papers) 114, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:opques:qef_114_12
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    File URL: http://www.bancaditalia.it/pubblicazioni/qef/2012-0114/QEF_114.pdf
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    References listed on IDEAS

    as
    1. Sovacool, Benjamin K., 2008. "Valuing the greenhouse gas emissions from nuclear power: A critical survey," Energy Policy, Elsevier, vol. 36(8), pages 2940-2953, August.
    2. Simmons, Phil, 2011. "The 25th Anniversary of the Chernobyl Accident," 2011 Conference (55th), February 8-11, 2011, Melbourne, Australia 100713, Australian Agricultural and Resource Economics Society.
    3. Taleb, Nassim Nicholas, 2007. "Black Swans and the Domains of Statistics," The American Statistician, American Statistical Association, vol. 61, pages 198-200, August.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    nuclear energy; energy security; environmental impact of energy use;

    JEL classification:

    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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