New nuclear economics: Affordable electric power

A new, simplified pressurized water reactor design and plan for construction results in a drastic reduction in plant capital cost and a significant improvement in overall power costs. The design simplification has enhanced the overall safety of the plant while eliminating 60 percent of nuclear island valves, 35 percent of total plant pumps, and 75 percent of nuclear island piping. These and other reductions yield a 30 percent reduction in overall capital cost compared to a conventional nuclear plant, for a power output tailored to the electric grid size of developing countries. The construction schedule is also shortened significantly, with the use of modular techniques developed in the shipbuilding industry. A construction schedule of 36 months is achievable with this new approach. Further, the simplified plant design enhances maintainability and thus reduces costs of operation and maintenance (O and M). The large reduction in capital cost, combined with the shorter construction schedule, reduced O and M cost, and lower fuel costs, produces a power cost for the new design which is very competitive with alternative forms of generation. This paper illustrates the new nuclear economics by comparing the costs of the Westinghouse AP600 with those of alternative forms of power generation and the standard Westinghouse two-loop 600MW plant. The AP600 plant is being developed under sponsorship of the U.S. Department of Energy and the Electric Power Research Institute. (author). 8 figs, 8 tabs