Current Status, Technical Feasibility and Economics of Small Nuclear Reactors

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Current Status, Technical Feasibility and Economics of Small Nuclear Reactors Nuclear Development June 2011 Current Status, Technical Feasibility and Economics of Small Nuclear Reactors NUCLEAR ENERGY AGENCY Nuclear Development Current Status, Technical Feasibility and Economics of Small Nuclear Reactors . © OECD NUCLEAR ENERGY AGENCY ORGANISATION OF ECONOMIC COOPERATION AND DEVELOPMENT Foreword Larger nuclear reactors typically have lower specific costs due to the economy of scale, resulting in nuclear power plants with reactors of 1 000-1 600 MWe being most commonly commercialised today. However, there is currently a growing trend in the development and commercialisation of small and medium-sized reactors (SMRs), i.e. reactors with effective electric power less than 700 MWe. The main arguments in favour of SMRs are that they could be suitable for areas with small electrical grids and for remote locations, and that due to the smaller upfront capital investment for a single SMR unit the financial risks associated with their deployment would be significantly smaller than for a large reactor. This offers flexibility for incremental capacity increases which could potentially increase the attractiveness of nuclear power to investors. This report is a summary of the development status and deployment potential of SMRs. It brings together the information provided in a variety of recent publications in this field, and presents the characterisation of SMRs currently available for deployment and those that are expected to become available in the next 10-15 years. Additionally, it highlights the safety features and licensing issues regarding such reactors. Particular attention is given to the economics of SMRs, and the various factors affecting their competitiveness are analysed and discussed. Vendors‟ data on the economics of different designs are compared with independent quantitative estimates of the electricity generating costs, and the deployment potential of such reactors in a number of markets and geographic locations is assessed. 3 Acknowledgements This report was prepared by Vladimir Kuznetsov, Consultant, and Alexey Lokhov of the NEA Nuclear Development Division. Detailed review and comments were provided by Ron Cameron and Marco Cometto of the NEA Nuclear Development Division, with other reviews and input from members of the NEA Nuclear Development Committee. 4 Table of Contents Executive Summary ............................................................................................................................. 11 Overview of SMR designs considered ............................................................................................... 12 The analysis of factors influencing the competitiveness of SMRs ..................................................... 14 Estimates of levelised unit electricity cost ......................................................................................... 17 The competitiveness of SMRs deployed in regular and remote or isolated areas .............................. 20 Safety features and licensing of SMRs ............................................................................................... 24 Conclusions ........................................................................................................................................ 25 1. Introduction and Context ................................................................................................................ 27 1.1 Outline of the report ................................................................................................................ 28 References .............................................................................................................................................. 30 2. Definitions ......................................................................................................................................... 31 References .............................................................................................................................................. 32 3. Brief Characterisation of SMRs Available for Commercial Deployment ................................... 33 3.1 Land-based heavy water reactors (HWRs) .............................................................................. 33 3.2 Land-based pressurised water reactors (PWRs) ...................................................................... 34 3.3 Barge-mounted PWRs ............................................................................................................. 34 References .............................................................................................................................................. 36 4. Characterisation of Advanced SMR Designs ................................................................................ 37 4.1 Introduction ............................................................................................................................. 37 4.2 Basic characteristics and technology lines .............................................................................. 38 4.3 Design status and possible timeframes for deployment .......................................................... 50 4.4 Energy products ....................................................................................................................... 52 4.5 Load following operation and compatibility with electricity grids ......................................... 55 References .............................................................................................................................................. 56 5. Small and Modular Reactors (“Mini” Reactors) and their Attributes ....................................... 59 References .............................................................................................................................................. 64 6. Factors Affecting the Competitiveness of SMRs ........................................................................... 65 6.1 Introduction and designers‟ cost data for SMRs ...................................................................... 65 6.2 Factors affecting the investment cost of SMRs ....................................................................... 71 6.3 Operation and maintenance and fuel costs .............................................................................. 81 6.4 Decommissioning costs ........................................................................................................... 83 6.5 Co-generation with non-electrical applications (heat credit model) ........................................ 84 6.6 SMRs in liberalised energy markets ........................................................................................ 85 6.7 Summary of the factors affecting SMR economy ................................................................... 88 References .............................................................................................................................................. 89 5 7. Assessment of the Deployment Potential of the Various Proposed SMR Designs ...................... 91 7.1 Independent estimates of LUEC for typical SMRs ................................................................. 91 7.2 Evaluation of SMR deployment potential ............................................................................. 100 References ............................................................................................................................................ 115 8. Safety Designs of Advanced SMRs ............................................................................................... 117 8.1 Introduction ........................................................................................................................... 117 8.2 Pressurised water reactors ..................................................................................................... 118 8.3 Boiling water reactors ............................................................................................................ 122 8.4 Advanced heavy water reactors ............................................................................................. 123 8.5 High temperature gas cooled reactors ................................................................................... 124 8.6 Sodium cooled fast reactors ................................................................................................... 125 8.7 Lead-bismuth cooled fast reactors ......................................................................................... 126 8.8 Summary of SMR safety designs .......................................................................................... 128 References ............................................................................................................................................ 132 9. Licensing Issues .............................................................................................................................. 133 9.1 Licensing status and compliance with the current regulations .............................................. 133 9.2 Possible regulatory issues and delays in licensing ................................................................ 134 9.3 Reduced emergency planning requirements .......................................................................... 136 9.4 New regulatory approaches ................................................................................................... 137 References ...........................................................................................................................................
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