Comparison study on models for calculation of NPP's levelized unit electricity cost

Economic analysis that is generally done through the calculation of Levelized Unit Electricity Cost (LUEC) is crucial to be done prior to any investment decision on the nuclear power plant (NPP) project. There are several models that can be used to calculate LUEC, which are: R&D PT. PLN (Persero) Model, Mini G4ECONS model and Levelized Cost model. This study aimed to perform a comparison between the three models. Comparison technique was done by tracking the similarity used for each model and then given a case of LUEC calculation for SMR NPP 2 x 100 MW using these models. The result showed that the R&D PT. PLN (Persero) Model have a common principle with Mini G4ECONS model, which use Capital Recovery Factor (CRF) to discount the investment cost which eventually become annuity value along the life of plant. LUEC on both models is calculated by dividing the sum of the annual investment cost and the cost for operating NPP with an annual electricity production.While Levelized Cost model based on the annual cash flow. Total of annual costs and annual electricity production were discounted to the first year of construction in order to obtain the total discounted annual cost and the total discounted energy generation. LUEC was obtained by dividing both of the discounted values. LUEC calculations on the three models produce LUEC value, which are: 14.5942 cents US$/kWh for R&D PT. PLN (Persero) Model, 15.056 cents US$/kWh for Mini G4ECONs model and 14.240 cents US$/kWh for Levelized Cost model. (author)