The Economics of Long-term Operation of Nuclear Power Plants

Refurbishment And Long-term Operation (lto) Of Existing Nuclear Power Plants (npps) Today Are Crucial To The Competitiveness Of The Nuclear Industry In Oecd Countries As Existing Nuclear Power Plants Produce Baseload Power At A Reliable Cost. A Number Of Nuclear Power Plants, Most Notably 73 Units In The United States (up To 2012), Have Been Granted Lifetime Extensions Of Up To 60 Years, A Development That Is Being Keenly Watched In Other Oecd Countries. In Many Of These (e.g. France, Switzerland), There Is No Legal End To The Operating Licence, But Continued Operation Is Based On The Outcomes Of Periodic Safety Reviews. This Study Analyses Technical And Economic Data On The Upgrade And Lifetime Extension Experience In Oecd Countries. A Multi-criteria Assessment Methodology Is Used Considering Various Factors And Parameters Reflecting Current And Future Financial Conditions Of Operation, Political And Regulatory Risks, The State Of The Plants’ Equipment And The General Role Of Nuclear Power In The Country’s Energy Policy. The Report Shows That Long-term Operation Of Nuclear Power Plants Has Significant Economic Advantages For Most Utilities Envisaging Lto Programmes. In Most Cases, The Continued Operation Of Npps For At Least Ten More Years Is Profitable Even Taking Into Account The Additional Costs Of Post-fukushima Modifications, And Remains Cost-effective Compared To Alternative Replacement Sources. Executive Summary 9  Chapter 1. Overview Of Long-term Operation Programmes In The World 19  -introduction19  -lifetime-limiting Factors 22  -references 27  Chapter 2. Regulatory And Legal Requirements For Long-term Operation In Different Countries 29  -typical Regulatory Approaches For Assurance Of Safety In Long-term Operation 29  -safety Level Required For Long-term Operation 31  -scope Of The Regulatory Assessment For Long-term Operation 32  -reference 36  Chapter 3. Safety Initiatives Following The Fukushima Daiichi Accident 37  -nuclear Energy Agency 37  -european Union (eu) 38  -united States 40  -iaea Action Plan 42  -conclusions 42  -references 43  Chapter 4. Economics Of Long-term Operation: Figures Of Merit  45  -assessment Criteria 45  -methodology Of Criteria Evaluation 46  -summary Of The Methodology 58  -references 59  Chapter 5. Assessment Of Long-term Operation Programmes In Selected Nea Countries: Case Studies 61  -belgium 61  -finland 66  -france 69  -hungary 75  -republic Of Korea  79  -switzerland 84  -united States 87  -comparison With Other Cases 94  -further Plans For Lifetime Extension 96  -references 96  Chapter 6. Summary Of Lto Programmes For Selected Countries That Have Not Participated In The Questionnaire 97  -russian Federation  97  -ukraine 99  -united Kingdom 100  -references 103 Chapter 7. Summary And Conclusions 105  List Of Appendices -1. Glossary109  -2. Members Of The Ad Hoc Expert Working Group 111 Organisation For Economic Co-operation And Development And Nuclear Energy Agency Bibliographic Level Mode Of Issuance: Monograph Includes Bibliographical References. English