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Author:
Publisher:
ISBN: 9789264647060
Category :
Languages : en
Pages : 0
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Book Description
Realising the contribution of nuclear energy to achieving net zero carbon emission in 2050 will require raising significant amounts of capital at competitive rates. On the basis of work under the aegis of the Nuclear Energy Agency (NEA) - International Framework for Nuclear Energy Cooperation (IFNEC) Initiative on Nuclear Financing, this report explores a new framework for analysing the cost of capital for nuclear new build projects. Its key insight is that capital costs can be substantially lowered if the different risks pertaining to such projects such as construction risk, price risk or political risk are properly understood, optimally managed and fairly allocated. In a carbon-constrained world, the true capital costs of nuclear energy and other low-carbon generators will also be lower than customarily assumed due to their ability to offset systemic financial risk. The findings of this report apply equally to private and public investments. Governments nevertheless have important roles to play in ensuring credible net zero commitments, implementing frameworks for optimal risk management and by becoming involved as project participants, in cases where they judge that private actors do not realise the full value of a nuclear power project. This report is the first in the collection New perspectives on financing nuclear new build, highlighting complementary aspects of financing nuclear new build. Other volumes in the series address the financing frameworks and risk allocation strategies proposed or adopted for recent or ongoing nuclear new build projects, environmental, social and governance (ESG) criteria and the electricity market design, project management and incentive structures necessary for nuclear new build projects to succeed.
Author:
Publisher:
ISBN: 9789264647060
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Realising the contribution of nuclear energy to achieving net zero carbon emission in 2050 will require raising significant amounts of capital at competitive rates. On the basis of work under the aegis of the Nuclear Energy Agency (NEA) - International Framework for Nuclear Energy Cooperation (IFNEC) Initiative on Nuclear Financing, this report explores a new framework for analysing the cost of capital for nuclear new build projects. Its key insight is that capital costs can be substantially lowered if the different risks pertaining to such projects such as construction risk, price risk or political risk are properly understood, optimally managed and fairly allocated. In a carbon-constrained world, the true capital costs of nuclear energy and other low-carbon generators will also be lower than customarily assumed due to their ability to offset systemic financial risk. The findings of this report apply equally to private and public investments. Governments nevertheless have important roles to play in ensuring credible net zero commitments, implementing frameworks for optimal risk management and by becoming involved as project participants, in cases where they judge that private actors do not realise the full value of a nuclear power project. This report is the first in the collection New perspectives on financing nuclear new build, highlighting complementary aspects of financing nuclear new build. Other volumes in the series address the financing frameworks and risk allocation strategies proposed or adopted for recent or ongoing nuclear new build projects, environmental, social and governance (ESG) criteria and the electricity market design, project management and incentive structures necessary for nuclear new build projects to succeed.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 248
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Book Description
Nuclear new build has been progressing steadily since the year 2000, with the construction of 94 new reactors initiated and 56 completed reactors connected to the grid. Among these new reactors are some of the first generation III/III+ reactors of their kind. Drawing on a combination of conceptual analysis, expert opinion and seven in-depth case studies, this report provides policy makers and stakeholders with an overview of the principal challenges facing nuclear new build today, as well as ways to address and overcome them. It focuses on the most important challenges of building a new nuclear power plant, namely assembling the conditions necessary to successfully finance and manage highly complex construction processes and their supply chains. Different projects have chosen different paths, but they nonetheless share a number of features. Financing capital-intensive nuclear new build projects requires, for example, the long-term stabilisation of electricity prices whether through tariffs, power purchase agreements or contracts for difference. In construction, the global convergence of engineering codes and quality standards would also promote both competition and public confidence. In addition, change management, early supply chain planning and "soft issues" such as leadership, team building and trust have emerged over and again as key factors in the new build construction process. This report looks at ongoing trends in these areas and possible ways forward.
Author: OECD
Publisher: OECD Publishing
ISBN: 9789264079229
Category :
Languages : en
Pages : 76
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Book Description
This study examines the financial risks involved in investing in a new nuclear power plant, how these can be mitigated, and how projects can be structured so that residual risks are taken by those best able to manage them.
Author: International Atomic Energy Agency
Publisher:
ISBN: 9789201003171
Category : Technology & Engineering
Languages : en
Pages : 200
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Book Description
This publication emphasizes how various risks -- including those typically considered to be 'engineering risks' -- will give rise to such financial risks.
Author: International Atomic Energy Agency
Publisher:
ISBN: 9789201072085
Category : Construction
Languages : en
Pages : 0
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Book Description
Addresses the issues associated with the financing of new nuclear power plants. This report explores the roles, responsibilities and options of both government and industry with regard to nuclear power plant financing, as well as issues of risk mitigation and management.
Author: Reinhard Haas
Publisher: Springer
ISBN: 3658259876
Category : Agriculture (General)
Languages : en
Pages : 385
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Book Description
This open access book discusses the eroding economics of nuclear power for electricity generation as well as technical, legal, and political acceptance issues. The use of nuclear power for electricity generation is still a heavily disputed issue. Aside from technical risks, safety issues, and the unsolved problem of nuclear waste disposal, the economic performance is currently a major barrier. In recent years, the costs have skyrocketed especially in the European countries and North America. At the same time, the costs of alternatives such as photovoltaics and wind power have significantly decreased. Contents History and Current Status of the World Nuclear Industry The Dramatic Decrease of the Economics of Nuclear Power Nuclear Policy in the EU The Legacy of Csernobyl and Fukushima Nuclear Waste and Decommissioning of Nuclear Power Plants Alternatives: Heading Towards Sustainable Electricity Systems Target Groups Researchers and students in the fields of political, economic and technical sciences Energy (policy) experts, nuclear energy experts and practitioners, economists, engineers, consultants, civil society organizations The Editors Prof. Dr. Reinhard Haas is University Professor of energy economics at the Institute of Energy Systems and Electric Drives at Technische Universität Wien, Austria. PD Dr. Lutz Mez is Associate Professor at the Department for Political and Social Sciences of Freie Universität Berlin, Germany. PD Dr. Amela Ajanovic is a senior researcher and lecturer at the Institute of Energy Systems and Electrical Drives at Technische Universität Wien, Austria.--
Author: IAEA.
Publisher:
ISBN: 9789201405197
Category : Electronic books
Languages : en
Pages : 108
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Book Description
Annotation Mitigation of the financial risks attendant on a nuclear power plant new-build project is a key to ensuring project viability. This publication emphasizes how various risks - including those typically considered to be 'engineering risks' - will give rise to such financial risks.
Author: Trevor Letcher
Publisher: Elsevier
ISBN: 044318514X
Category : Science
Languages : en
Pages : 618
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Book Description
Living with Climate Change contains different topics on how to adapt to global warming. With a strong focus on ways of adapting to climate change, the book also examines the root causes of global warming. Readers are provided all the most up-to-date thinking and information on each issue due to the extensive list of references connected to each chapter. By linking various topics and interesting new innovations that are often synergistic, this book covers a wide range of issues in global warming adaptation that is ideal for readers from many disciplines. - Covers ways of coping with global warming and climate change - Contains the most up-to-date information on how to prevent the worst effects of global warming - Discusses the connection of climate change to human health
Author: International Atomic Energy Agency
Publisher:
ISBN: 9789201070166
Category : Nuclear agency
Languages : en
Pages : 0
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Book Description
Transforming the energy system is at the core of the dedicated sustainable development goal on energy within the new United Nations development agenda. This publication explores the possible contribution of nuclear energy to addressing the issues of sustainable development through a large selection of indicators. It reviews the characteristics of nuclear power in comparison with alternative sources of electricity supply, according to economic, social and environmental pillars of sustainability. The findings summarized in this publication will help the reader to consider, or reconsider, the contribution that can be made by the development and operation of nuclear power plants in contributing to more sustainable energy systems.
Author: Great Britain: Department for Business, Enterprise & Regulatory Reform
Publisher: The Stationery Office
ISBN: 9780101729628
Category : Business & Economics
Languages : en
Pages : 192
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Book Description
The May 2007 White Paper "Meeting the energy challenge: a white paper on energy" (Cm. 7124, ISBN 9780101712422) set out the Government's international and domestic strategy to address the two main challenges: tackling climate change by reducing carbon dioxide emissions; and ensuring clean and affordable energy as the country becomes increasingly dependent on imported fuel. An online consultation on nuclear power and the role of the private sector: www.direct.gov.uk/nuclearpower2007 was produced at the same time. This White Paper sets out the Government's decision taken in response to the consultation. The Government believes it is in the public interest that new nuclear power stations should have a role to play in the country's future energy mix alongside other low-carbon sources; that energy companies should have the option of investing in them; and that the Government should take active steps to open up the way to the construction of new nuclear power stations. It will be for the energy companies to fund, develop and build the new stations, including meeting the full costs of decommissioning and their full share of waste management costs. Section 1 summarises the consultation process. Section 2 addresses the key issues that arose from the consultation and how they have been taken into account in shaping policy and reaching conclusions. Section 3 outlines the facilitative actions the Government will take to reduce the regulatory and planning risks associated with investing in new nuclear power stations. Finally there are three annexes: alternatives to nuclear power; justification and strategic siting assessment processes; regulatory and advisory structure for nuclear power.
