* In the UK the nuclear option is at least as cost competitive with other forms of power generation
* Capital costs are greater than those for fossil fuel-fired power stations, but running costs and the cost of fuel are considerably less
* Fuel costs aren’t linked to the price of Gas and Oil and volatile market forces
* One kilogram of uranium will yield about 20,000 times as much energy as the same amount of coal
* Unlike renewable energy, Nuclear Power generation doesn’t benefit from heavy subsidies
* All waste disposal and decommissioning costs will be taken into account for all new nuclear power stations
Misrepresentation over cost has, like the nuclear waste issue, been another reason to say “No” to the nuclear option. However, numerous reports and studies have shown that nuclear power is at least cost competitive with other forms of electricity generation, if not more so, given the huge price rises we have seen in Oil and other fossil fuels.
The following charts showing the relative costs of generating electricity for each technology, serve to illustrate this. Data is courtesy of a report by The Royal Academy of Engineering in association with PB Power.
Key
OCGT open cycle gas turbine
CCGT closed cycle gas turbine
ICGT integrated gasification combined cycle
PF pulverised fuel
For further information The World Nuclear Association has some excellent detailed research and documentation on the cost of nuclear generated electricity versus other technologies.