This book is a unique introduction to the economic costs of nuclear power. It examines the future of the nuclear power industry and unpacks the complicated relationships between its technical, economic and political variables. It does so by modelling the costs, risks and uncertainties of one of the world’s most opaque industries using micro-econometrics, econometrics, and cost engineering.
Economics of Nuclear Power examines the very important costs of externalities (storing of nuclear waste and the impact of a Chernobyl or Fukushima event) and compares those to the externalities of alternative carbon based energies (oil, coal, natural gas). With over 100 tables and figures this book details nuclear power production around the world - present and planned, providing a completely global focus. It also includes an overview of the past 70 years of international nuclear power developments.
This book is essential reading for students, scholars and professionals interested in energy economics, nuclear engineering and energy policy.
Table of Contents
1. Introduction to the International Commercial Nuclear Power Industry 2. Regulating Light Water Reactors in the U.S. 2A. Levelised Cost and the Cost of Capital 3. New Nuclear Power Plant Capital Construction Costs 3A. Risk, Contingency, and Diversification in Electricity Generation 3B. An Appropriate Insurance Premium for a Nuclear Power Plant Accident 4. New Light Water Reactor Operating and Levelised Costs 4A. The Expected Cost of Recycling Used Uranium Oxide Fuel 5. Levelised Cost and Cost Risk for Portfolios of Generating Assets
Geoffrey Rothwell was a Senior Lecturer (1986-2013) in the Department of Economics, Stanford University, Stanford, California, USA.
'Rothwell’s new book is excellent reading with tremendous insights from every perspective. The clear, concise writing style gives enough detail and support for all readers, be they policymaker, student or nuclear engineer! A must read for anyone serious about energy and climate change policy.' — Donald R. Hoffman, President/CEO of Excel Services Corporation, Past President of the American Nuclear Society, Chair of the Virginia Nuclear Energy Consortium Authority and Co-Chair, ANS Special Committee on Nuclear in the States, USA.
‘Geoff Rothwell’s book is for those serious about understanding nuclear power economics in great depth. Dr. Rothwell’s comprehensive treatment cuts through hype on both sides of the nuclear debate, offering honest and encyclopedic discussion of all you ever wanted to know about nuclear power: nuclear power and fuel cycle technology, capital costs, operating costs, risk premiums, waste disposal, fuel cycle economics, governmental incentives and regulations. Rather than the typical overly-confident point statements of costs, Dr. Rothwell provides probability distributions, embracing the real uncertainties. Once you read this book, with its many charts and tables, you will keep it as your go-to reference volume.’ — James L Sweeney, Professor of Management Science and Engineering, Director of Precourt Energy Efficiency Center, Stanford University, USA.
'Geoffrey Rothwell has given us the definitive study of the costs of nuclear power, a topic of wide concern especially in view of the need to curb fossil fuels to avoid deleterious climate change. Particularly noteworthy is his innovative work on estimating the implicit costs of uncertainty with regard to both construction and possible accidents. He draws heavily and expertly on decision theory and statistical methodology.' — Kenneth Arrow, Joan Kenney Professor of Economics and Professor of Operations Research, Stanford University, USA.