nuclear-news

Even South Australia’s pro nuclear Royal Commission admits the diseconomic s of the nuclear industry

The Nuclear Industry Prices Itself Out Of Market For New Power Plants, Climate Progress, BY JOE ROMM MAR 8, 2016 “….. in newly-released findings, South Australia’s nuclear royal commission found that the price of electricity from new nukes greatly exceeded not only business-as-usual projections for electricity prices but also prices in a “strong climate action” case. The Commission concluded “it would not be commercially viable to generate electricity from a nuclear power plant in South Australia in the foreseeable future.”

The Commission explicitly looked at plausible electricity prices for a new reactor in 2030 based on both current designs and possible fourth-generation ones, such as small modular reactors (SMRs). The Commission estimated the cost for the most viable nukes at US$7 billion for a typical large 1125-megawatt reactor and $2.8 billion for two 180-megawatt SMRs. The smaller SMRs would be providing electricity for a whopping US$0.17 a kilowatt-hour!

A study done for the Commission found that both large nukes and SMRs “consistently deliver strongly negative NPVs” (net present values) for both 2030 and 2050 — even for the strong climate action scenario. The Commission Chair noted that given how Australia’s National Electricity Market works, renewables are “the first energy that goes into the market” because they have the lowest costs.

The Commission’s findings are consistent with a 2014 Energy Policy study, “The cost of nuclear electricity: France after Fukushima.” Using cost data released by the French government after the Fukushima disaster, the study found the cost of French nuclear plants steadily escalated over the past four decades. Further, it projects “the future cost of nuclear power in France to be at least 76€/MWh (US$0.084/KWh) and possibly 117€/MWh (US$0.129/KWh),” which “compares unfavorably against alternative fuels,”……. such as wind.http://thinkprogress.org/climate/2016/03/08/3757281/nuclear-industry-prices/

March 11, 2016 - Posted by Christina Macpherson | AUSTRALIA, business and costs