Economic analyses of LWR fuel cycles

An economic comparison was made of three options for handling irradiated light-water reactor (LWR) fuel. These options are reprocessing of spent reactor fuel and subsequent recycle of both uranium and plutonium, reprocessing and recycle of uranium only, and direct terminal storage of spent fuel not reprocessed. The comparison was based on a peak-installed nuclear capacity of 507 GWe by CY 2000 and retirement of reactors after 30 years of service. Results of the study indicate that: Through the year 2000, recycle of uranium and plutonium in LWRs saves about $12 billion (FY 1977 dollars) compared with the throwaway cycle, but this amounts to only about 1.3% of the total cost of generating electricity by nuclear power. If deferred costs are included for fuel that has been discharged from reactors but not reprocessed, the economic advantage increases to $17.7 billion. Recycle of uranium only (storage of plutonium) is approximately $7 billion more expensive than the throwaway fuel cycle and is, therefore, not considered an economically viable option. The throwaway fuel cycle ultimately requires >40% more uranium resources (U3O8) than does reprocessing spent fuel where both uranium and plutonium are recycled