Financing new nuclear. Governments paying the price?
WISE Netherlands commissioned this research to provide a clear picture of
the current-day construction costs of a nuclear power plant.
WISE Netherlands is specifically interested in the government’s share of
financing the construction of nuclear power plants, a price to be paid by
the taxpayer.
The research request follows up on the Dutch government’s
intention to build two (or even four) new nuclear power plant units in the
Netherlands.
The current nuclear site at Borssele has been designated as
the preferred location for the first two units (Borssele 2-3). Nuclear
power plant construction is not business as usual in a privatised energy
market. Governments regularly intervene heavily, either through direct
financing, providing loans and guarantees, or via risk-sharing and
interference with price measures.
This raises the question of how much a government will have to pay when planning a new nuclear power plant. Based on recent examples, what is the range of cost estimates that can be expected?
To this end, this study aims to provide a detailed analysis of
the actual costs and timelines of typical and recent large-scale
construction projects of new nuclear power plants. Six nuclear power plants
have been selected for this research. They are among the latest to be put
into operation globally: Olkiluoto 3 (Finland), Shin Hanul 1-2 (South
Korea), Barakah 1-4 (United Arab Emirates), Vogtle 3-4 (United States),
Flamanville 3 (France) and Hinkley Point C 1-2 (United Kingdom).
WISE Netherlands (accessed) 10th Oct 2024
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