Comment by Retric
Comment by Retric 8 hours ago
> Most of it are fake costs due to regulation.
It’s really not, nuclear inherently requires extreme costs to operate. Compare costs vs coal which isn’t cost competitive these days. Nuclear inherently need a lot more effort refining fuel as you can’t just dig a shovel full of ore and burn it. Even after refining you can’t just dump fuel in, you need fuel assemblies. Nuclear must have a more complicated boiler setup with an extra coolant loop. You need shielding and equipment to move spent fuel and a spent fuel cooling pond. Insurance isn’t cheap when mistakes can cost hundreds of billions. Decommissioning could be a little cheaper with laxer standards, but it’s never going to be cheap. Etc etc.
Worse, all those capital costs mean you’re selling most of your output 24/7 at generally low wholesale spot prices unlike hydro, natural gas, or battery backed solar which can benefit from peak pricing.
That’s not regulations that’s just inherent requirements for the underlying technology. People talk about small modular reactors, but small modular reactors are only making heat they don’t actually drive costs down meaningfully. Similarly the vast majority of regulations come from lessons learned so yea they spend a lot of effort avoiding foreign materials falling into the spent fuel pool, but failing to do so can mean months of downtime and tens of millions in costs so there isn’t some opportunity to save money by avoiding that regulation.
> Nuclear inherently need a lot more effort refining fuel as you can’t just dig a shovel full of ore and burn it. Even after refining you can’t just dump fuel in, you need fuel assemblies.
It's true that a pound of nuclear fuel costs more than a pound of coal. But it also has a million times more energy content, which is why fuel is only 15-20% of the operating costs compared to >60% for coal. And that's for legacy nuclear plants designed to use moderately high enrichment rates, not newer designs that can do without that.
> Nuclear must have a more complicated boiler setup with an extra coolant loop.
You're describing a heat exchanger and some pipes. If this is the thing that costs a billion dollars, you're making the argument that this is a regulatory cost problem.
> You need shielding and equipment to move spent fuel and a spent fuel cooling pond.
Shielding is concrete and lead and water. None of those are particularly expensive.
Equipment to move things is something you need at refueling intervals, i.e. more than a year apart. If this is both expensive and rarely used then why does each plant need its own instead of being something that comes on the truck with the new fuel and then goes back to be used at the next plant?
> Insurance isn’t cheap when mistakes can cost hundreds of billions.
This is the regulatory asymmetry again. When a hydroelectric dam messes up bad enough, the dam breaks and it can wipe out an entire city. When oil companies mess up, Deep Water Horizon and Exxon Valdez. When coal companies just operate in their ordinary manner as if this is fine, they leave behind a sea of environmental disaster sites that the government spends many billions of dollars in superfund money to clean up. That stuff costs as much in real life as nuclear disasters do in theory. And that's before we even consider climate change.
But then one of them is required to carry that amount of insurance when the others aren't. It should either be both or neither, right?