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Economics of nuclear power: Past record, present trends and future prospects

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  • Phung, Doan L.

Abstract

We examine the economic record of operating U.S. reactors, factors affecting the economics of nuclear plants under construction and opportunites for nuclear energy to escape from the predicament it faces today. The records of the 80 operating reactors indicate that they represent an indispensable asset, generating power at a lower cost than fossil-fueled alternatives. Yet many reactors under construction have suffered so much delay and cost escalation that they have become a financial burden to utilities and their customers. The technical, economic, and institutional reasons for this grotesque contrast between nuclear energy's potential and the problems it faces today are discussed. Changes necessary to improve the economics of nuclear power are also discussed. It is argued that the deployment of a meltproof reactor design, several of which are now under development, may solve the multifaceted problems of over-regulation, long schedules, and financial risks.

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  • Phung, Doan L., 1985. "Economics of nuclear power: Past record, present trends and future prospects," Energy, Elsevier, vol. 10(8), pages 917-934.
    • Handle: RePEc:eee:energy:v:10:y:1985:i:8:p:917-934
    DOI: 10.1016/0360-5442(85)90004-0
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    Cited by:

    1. Lovering, Jessica R. & Yip, Arthur & Nordhaus, Ted, 2016. "Historical construction costs of global nuclear power reactors," Energy Policy, Elsevier, vol. 91(C), pages 371-382.

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