> "Cheap nuclear" is a pipe dream that has never been realized. Not even Chinese nuclear (no environmentalists there) is anywhere near as cheap as solar.
In Ontario, Canada, 50% of all power comes from nuclear and costs CAD 0.12/kWh (USD 0.08/kWh); see Table 2:
Ontario's Financial Accountability Office, which reports to provincial parliament and is independent of the government, concluded that at least for the refurbs:
> * The FAO estimates that the Plan will result in nuclear generation supplying a significant proportion of Ontario electricity demand from 2016 to 2064 at an average price of $80.7/MWh in 2017 dollars. (For reference, the 2017 Nuclear Price is $69/MWh and the current price of electricity for most residential and small business ratepayers is $114.9/MWh.)
> * The Nuclear Price will be higher than the average price of $80.7/MWh during the majority of the time that the reactors are being refurbished from 2016 to 2033. Post refurbishment, ratepayers will benefit from a lower than average Nuclear Price.
> * Overall, despite near-term Nuclear Price increases, the Plan is projected to provide ratepayers with a long-term supply of relatively low-cost, low emissions electricity.
> * OPG will realize a financial return from the operation of the DNGS and PNGS. OPG is owned by the Province and any return would improve the Province’s fiscal position. There is no significant fiscal impact to the Province from the refurbishment of reactors at the BNGS as it is operated by Bruce Power, a private sector organization.
I was not able to find a similar report (pro or con) for new build, though I think the current plan with some SMRs in Ontario is dumb: if we decide on more nuclear, we should stick with big(ger) CANDU, as there's little point in small reactors in a large grid like Ontario.
Renewable programs have also cost Ontario ratepayers quite a bit of money, for not a lot of electricity generated:
It was broken up into "constituent" components in 1998, and the a lot of the nuclear plant construction financing debt didn't fit neatly into any one of them, so a separate legal entity was created: Ontario Electricity Financial Corporation (OEFC).
Ratepayers pay their electrical bills, the money goes to local utilities and entities like OPG and Hydro One, which in turn pay OEFC.
The claim that it was bankrupt was a line used by Mike Harris et co to justify privatization.
It was a government owned utility, it couldn’t go bankrupt in the traditional sense since it has taxpayer backing.
But its finances were completely underwater with no way out due to the debt from nuclear construction.
After the breakup the public were left with $38B in debt from nuclear construction. Which the subsequent nuclear company was unable to pay off, or it would of course not have been restructured.
> But its finances were completely underwater with no way out due to the debt from nuclear construction.
The debt from nuclear construction was being paid off then, just like it is being paid off right now: OEFC holds the debt and has revenue to pay it off. An article from someone who is not a fan of nuclear, but is also not a fan of Harris's non-sense:
> Harris claimed Hydro was so badly in debt as to be bankrupt. This claim was proven false by the final Ontario Hydro financial report in March of 1999 which showed that $1 billion of Hydro’s debt had been paid down and was on track to be paid off in 20 years. At the time critics said: “wouldn’t we all like to have a 20-year mortgage on our home because then you have an asset that serves you well!”
> In Ontario, Canada, 50% of all power comes from nuclear and costs CAD 0.12/kWh (USD 0.08/kWh); see Table 2:
The website does not open for me. Are the quoted prices consumer prices including tax or wholesale prices before tax?
If it’s the latter, 8 cents is not that cheap and comparable to the average price per kWh (all sources) in Germany. In most cases in most places, the lion’s share of electricity costs is tax and infrastructure refinancing, not actual production. Levellized cost of PV+storage is well below new nuclear virtually in every deployment scenario.
> For many years it was actually cheaper than (methane/natural) gas:
Because NG is one of the most expensive ways to produce electricity, if you are not producing NG yourself locally AND don’t have to pay for environmental costs.
Germany spends 10x more than france on transmission precisely because of ren expansion. Curtailment payments are much higher too. So you are right that taxes are different - depending on your pathway, you have no choice. Germany has highest household prices in EU after ireland despite 18bn/y in EEG subsidies to lower them.
That's because the utility went bankrupt and its construction costs were absorbed onto the public debt.
Nuclear is cheap to operate. It's expensive to build and expensive to decommission. Any analysis that doesn't include those two costs is highly misleading.
> That's because the utility went bankrupt and its construction costs were absorbed onto the public debt.
Ontario Hydro did not go bankrupt.
It was broken up into "constituent" components in 1998, and the a lot of the nuclear plant construction financing debt didn't fit neatly into any one of them, so a separate legal entity was created: Ontario Electricity Financial Corporation (OEFC).
Ratepayers pay their electrical bills, the money goes to local utilities and entities like OPG and Hydro One, which in turn pay OEFC.
The claim that it was bankrupt was a line used by Mike Harris et co to justify privatization.
https://reneweconomy.com.au/ontario-utility-wants-to-double-...