The economics of nuclear power in the United Kingdom

The United Kingdom's choice of gas cooled reactors for its initial nuclear programs has not yielded the anticipated economic benefits. Nevertheless, existing Magnox and AGR plants provide the cheapest electricity (except for a little hydropower), so it will pay to keep them running as long as possible. At the time of the conference, Nuclear Electric's Sizewell B, a 1200 MWe PWR was nearing completion on time and within budget. At the time of the conference, the future of nuclear energy was being considered by a government review. A prompt restart would be based on a twin repeat of the Sizewell design at the same site. Reliable cost estimates give confidence that the plants should produce electric power at under 3p/kWh, at which price they are projected to be competitive with coal or gas combined cycle generation plants. Additionally, nuclear power offers the UK a cost effective means of reducing acid gas and carbon dioxide emissions in line with the Government's environmental targets and international commitments. 4 refs., 2 tabs