Economic Modelling Working Group (EMWG)

Economic Modelling Working Group (EMWG) developed methodologies to assess Generation IV systems against two economic goals:

  • Generation IV nuclear energy systems will have a clear life-cycle cost advantage over other energy sources.
  • Generation IV nuclear energy systems will have a level of financial risk comparable to other energy projects.

The document Cost Estimating Guidelines for Generation IV Nuclear Energy Systems is a key element of the EMWG’s work to create an integrated nuclear energy economic model for application to Generation IV nuclear energy systems. The accompanying software G4ECONS is used in conjunction with these guidelines to facilitate consistent, comprehensible cost estimates for evaluation of the Generation IV Nuclear Energy Systems with respect to the established economic goals. 

The EMWG also studies the challenges and opportunities for deployment of Generation IV systems in future low-carbon energy markets, including flexibility requirements for integration in grids with significant renewable resources and improving cost competitiveness of Generation IV systems through cogeneration.  

G4ECONS

The Economic Modelling Working Group has upgraded the nuclear-economic model, G4ECONS and issued version 3 in 2018. This Excel-based model conforms to the assumptions and algorithms described in the Cost Estimating Guidelines for Generation IV Nuclear Energy Systems and calculates two key figures of merit, namely, the levelised unit electricity cost (LUEC) and total capital investment cost (TCIC). The model is generic in the sense that it can accept as input the types of projected performance and cost data that are expected to become available from Generation IV concept development teams and that it can model both open and closed fuel cycles.  The model is suitable for international use as it does not include country-specific taxation and other economic parameters.  .

Together with the guidelines “Cost Estimating Guidelines for Generation IV Nuclear Energy Systems”, G4ECONS can facilitate consistent, comprehensible cost estimates for evaluation of the Generation IV Nuclear Energy Systems with respect to the established economic goals.

Contact the Technical Secretariat to obtain the G4ECONS software.

 


· on 10/11/19 at 3:50 PM