engleski

Investor Incentives and Risks Linked with the Construction of Nuclear Power Plant with Innovative Reactor

Due to recent development of nuclear power technology, reliable and safe operation of nuclear plants is reasonably assured. On the other hand, due to foreseen problems with fossil fuel cost (particularly natural gas), fuel availability and atmospheric pollution (mainly CO2 emissions) an increased interest of the utilities is expected in following decade for Nuclear Power Plants (NPP). Economics of nuclear power becomes favorable if compared with, presently most economical, gas fired power plants with combined cycle, and a considerable savings could be achieved to the investor during plant life time for selecting nuclear plant instead of gas fired plant. However, building a nuclear power plant has in past presented a certain level of risks to investor [2]. It is obvious that the risks are enhanced if the plant consists of newly developed systems and components non fully proved in operation. These risks are primarily linked with uncertainties deriving from licensing, malfunction of plant components and systems and investment costs overruns due to delays and unexpected evens. Any of specified risks, if realized, would result in increase investment and in reduction of expected economic benefit achieved by plant operation. The investors risks related to construction of innovative (and even standard) nuclear power plants are present also in industrial countries [2], but such risks for investors in country importing nuclear technology, specially if the country is less developed, are larger than in the country where the innovative technology has been developed and licensed. The paper addresses primarily the case when innovative reactor is imported by a less developed country and is also partly based upon experience achieved during construction of NPP Krško (jointly owned by Slovenia and Croatia). In order to overcome the expected difficulties and to reduce level of risks an extensive level of cooperation between technology importing and exporting countries would be indispensable.

nuclear power technology

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