On the economics of nuclear and coal-fired electric generation

This article addresses the relative merit of nuclear versus coal-fired electricity generation for plants beginning base-load service in South Africa after the year 2000. Emphasis is placed on the economic merits of the two technologies, and environmental and social implications are taken into account only in so far as legislation, security, and other considerations affect the economics of the technologies. It is assumed that nuclear and coal-fired generating plants wil represent the most cost-effective and feasible options for base-load service in the foreseeable future. Socio-political consideration and lack of indigenous oil production forbid the use of oil for the production of electricity, independently of economic merits. Similarly, the absence of local research on alternative renewable technologies, their stage of development abroad and their current economics limit the possibility of their extensive use in the time horizon under examination. The measure of economic merit used in the study is the 'levelized busbar cost' over the lifetime of the station