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{{#Wiki_filter:Economics of the Operating Nuclear Fleet Matt Crozat Senior Director, Strategy and Policy Development March 11, 2021
{{#Wiki_filter:}}
©2020 Nuclear Energy Institute
 
Highest capacity factor ever achieved in 2019 100%
90%
80%
70%
60%
Last 6 years 93.4% in 2019 50%
92.3% in 2018 40%                                                                                                              92.2% in 2017 92.1% in 2016 30%
92.2% in 2015 20%                                                                                                              91.7% in 2014 10%
0%
NEIs capacity factor calculation (93.4%) accurately accounts for Three Mile Island I and Pilgrim generation in 2019. U.S.
Energy Information Administration reports 93.5% as nuclear energys capacity factor.
Source: U.S. Energy Information Administration                                                                              ©2020 Nuclear Energy Institute 2 Updated: March 2020
 
2019 total generating costs decreased nearly $2.50/MWh 2019 costs compared to 2018:
Capital            Fuel 5.71
* Total generating costs decreased by 6.15
                                                          $2.49/MWh (7.6% reduction)
Total
* Operations costs decreased by Generating        $1.57/MWh (7.8% reduction)
Cost:
30.41
* Capital costs decreased by
                                                          $0.61/MWh (9.6% reduction)
* Fuel costs decreased by Operations 18.55          $0.32/MWh (4.9% reduction)
Source: Electric Utility Cost Group                                          ©2020 Nuclear Energy Institute 3 Updated: July 2020
 
Total generating costs decreased nearly 32%
since 2012 50 45 40 Total Generating Costs ($/MWh) 35 30 25 20 15 10 5
0 2002  2003  2004  2005  2006  2007  2008  2009  2010  2011  2012  2013  2014  2015  2016    2017    2018    2019 Source: Electric Cost Utility Group                                                                                                                        ©2020 Nuclear Energy Institute  4 Updated: July 2020
 
Premature Closures and Announced Shutdowns KEY Premature Closures Announced Shutdowns
                                          ©2020 Nuclear Energy Institute 5 Updated: August 2020
 
State Policies Preserving Nuclear Plants KEY Plants Saved by State Action
                                          ©2020 Nuclear Energy Institute 6 Updated: August 2020
 
Regional Electricity Markets
                            ©2019 Nuclear Energy Institute 7
 
Nuclear Reactors Map Two-thirds of reactors in some form of market KEY Nuclear Reactor Locations ISO New England NYISO PJM MISO Southwest Power Pool ERCOT California ISO
                      ©2020 Nuclear Energy Institute 8
 
Electricity Market Design Questions Energy Market
* Which power plants should be used to meet demand?
* How much should they be paid for their electricity?
Capacity Market
* Which plants should be kept in service in case we need them?
* How much should they be paid to stay in service?
Answer: Use the less expensive ones most often.
                                                      ©2020 Nuclear Energy Institute 9
 
Declining Wholesale Electricity Prices
                                      ©2020 Nuclear Energy Institute 10
 
Nuclear Plants Preserved via State Action Summer                Initially            Electricity CO2 Emissions Avoided Generated Plant / Site                        State            Capacity            Announced            (billion kWh in (Million metric tons per (MWe)            Closure Year                                    in 2019) 2019)
Beaver Valley 1 & 2                      Pennsylvania              1,808                2021                    15.5                  9.9 Clinton                                      Illinois            1,065                2017                    8.4                  8.4 Davis-Besse                                    Ohio                894                  2020                    7.8                  5.0 Fitzpatrick                                New York                848                  2017                    7.4                  3.5 Ginna                                      New York                582                  2017                    5.0                  2.4 Hope Creek & Salem 1 & 2                  New Jersey              3,500            ~2020-2021                  26.6                17.0 Millstone 2 & 3                          Connecticut              2,073                ~2020                    16.7                  7.6 Nine Mile Point 1 & 2                      New York              1,917            2017-2018                  15.8                  7.5 Perry                                          Ohio                1,240                2020                    9.2                  5.9 Quad Cities 1 & 2                            Illinois            1,819                2018                    15.5                  9.9 TOTAL                                                            15,746                                        127.9                76.9 Source: Emissions avoided are calculated using regional and national fossil fuel emissions rates from the U.S.
Environmental Protection Agency and latest plant generation data from the U.S. Energy Information Administration.              ©2020 Nuclear Energy Institute 11 Updated: August 2020
 
State Clean Energy Policies
                            ©2020 Nuclear Energy Institute 12
 
Utility carbon emission projections based on pledges AEP 1,000                                        Ameren Dominion DTE Energy 900                                        Duke Energy FirstEnergy Green Mountain Power 800                                        NRG PG&E CO2 Emissions (million metric tons)
Pinnacle West 700                                        PNM Resources PSEG Southern California Edison 600                                        Southern Company TVA Vistra Energy Xcel Energy 500                                        AES Alliant Avangrid 400                                        Avista CenterPoint Energy CMS Energy 300                                        ConEd Entergy Evergy 200                                        Idaho Power Madison Gas & Electric National Grid 100                                        NextEra Energy NiSource OG&E Energy Platte River Power Authority
                                                -                                        Portland General Electric PPL Puget Sound Energy Sempra Energy WEC Energy
                                                                                                          ©2020 Nuclear Energy Institute  13 Source: ABB Velocity Suite, U.S. Environmental Protection Agency, utility news releases.
 
Key Takeaways U.S. nuclear fleet operating at high level and reducing costs Depressed market revenues challenging the continuing operation of many plants Policies to value carbon-free generation can change prospects for nuclear plants
                                                  ©2020 Nuclear Energy Institute 14}}

Revision as of 06:48, 17 January 2022

RIC 2021, Introductory Remarks on Economics of the Operating Nuclear Fleet
ML21194A241
Person / Time
Site: Nuclear Energy Institute
Issue date: 03/11/2021
From: Crozat M
Nuclear Energy Institute
To:
Office of Nuclear Regulatory Research
Betancourt L
References
Download: ML21194A241 (14)
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