The comparative costs of nuclear and fossil fuelled power plants in an American electricity utility

This chapter compares the current and historic operating performances of twelve large nuclear and coal-fired units now operated by Commonwealth Edison Company, and provides specific comparison of bus-bar costs of electricity generated by those units in recent years. It also provides cost comparisons for future nuclear and coal-fired units and attempts to deal realistically with the effect of future inflation upon these comparisons. The chapter attempts to deal responsibly with the problem of uncertainty - how present-day comparisons may be affected by future developments and how my own published comparisons have varied over the past four or five years. The conclusion is reached that, given the uncertain world in which we live, no electric power supplier can afford to put all its eggs in one basket. Utility managers have a strong incentive to diversify their sources of power generation, and society as a whole would do well to encourage such diversification. (author)