Nuclear power expected to be EU’s cheapest source of electricity in 2030

Existing nuclear power plants will produce the least expensive electricity in the European Union in 2030, according to a report from the European Commission made public in January.

The analysis, which focuses on the average discounted cost of electricity from several energy sources, provides a long-term cost for electricity generated by existing reactors of  60 € / MWh in 2030, compared with 65 €  / MWh. for existing hydraulics, 75 € / MWh for wind and 85 € / MWh for solar. Biomass, oil and gas are expected to generate electricity around 135-140 € / MWh at that time.

For plants yet to be built, the average cost would be around 95 € / MWh for nuclear power – higher than for new hydro, wind and solar installations but equivalent to that of new combined-cycle gas turbines.

The analysis is part of the study entitled “Energy Prices and Costs in Europe.” The third of its kind, it is based on 2016 data.

The long-term levelized cost of electricity, known as LCOE, includes direct investment and operating costs but does not include potential system costs incurred for certain energy sources, such as storage, additional interconnections, back-up production capabilities, and cost of land.

Click here to read the report.

Click here to read the article published by the information site NucNet.

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