The cost of nuclear electricity: France after Fukushima

Abstract

The Fukushima disaster has lead the French government to release novel cost information relative to its nuclear electricity program allowing us to compute a levelized cost. We identify a modest escalation of capital cost and a larger than expected operational cost. Under the best scenario, the cost of French nuclear power over the last four decades is 59. €/MWh (at 2010 prices) while in the worst case it is 83. €/MWh. On the basis of these findings, we estimate the future cost of nuclear power in France to be at least 76. €/MWh and possibly 117. €/MWh. A comparison with the US confirms that French nuclear electricity nevertheless remains cheaper. Comparisons with coal, natural gas and wind power are carried out to find the advantage of these. © 2013 Elsevier Ltd.