Fission possible: understanding the cost of nuclear power

The cost of nuclear power has been debated ever since the build of the first plant at Calder Hall. Despite crippling construction delays in the 1970s and 80s, nuclear new build is again considered to meet both future demand growth and CO2 reduction targets. UK suppliers could produce around 45% of the high value components, with the potential to enter international export markets. Initially estimated at £9bn, to £16bn after Fukushima, with the most recent estimate at £24.5bn, Hinkley Point C will be the pilot build for new nuclear. The question remains, can the UK build a nuclear power station economically? The research aims to provide a methodology for estimating the cost of future nuclear build projects. This paper will review cost drivers for historic nuclear build, prior to and after their construction. Based on this analysis the paper will critique the current methodology and provide direction for the research.