Competitiveness of evolutionary PWRs in the UK market

This paper considers the economic competitiveness of evolutionary pressurized water reactors (PWRs) in the UK market. It uses a conventional levelized accounting methodology to calculate the overall cost of generation from two Westinghouse AP-600 twin-unit evolutionary PWRs on the same site for a range of discount rates (i.e. a total of four reactors of similar to 600MWe output). Comparison is made with previous generating costs calculated for a twin-unit derivative of the Sizewell B design, with a very similar total electrical output. Comparison is also made with gas-fired plants. The generating cost for two twin AP-600s is shown to be more competitive than the Sizewell B derivative and indeed is competitive with gas-fired plants in many circumstances, especially where realistic assumptions concerning AP-600 performance ave made. Even in the case of low oil and gas prices, a carbon tax in the range pound 30-80/t C would be sufficient to equalize AP-600 and gas generation costs. While not yet competitive compared with low-cost gas when environmental impacts are ignored or underestimated, efforts are under way to demonstrate further economic performance equivalent to gas under all circumstances.