Fuel equivalent cost calculations

The oil gas market has a strong influence on the price of utilities. A consistent method for estimating the cost of utilities can be developed based on thermo-chemical calculations and typical efficiency of industrial processes, as power plants, boilers, turbines, refrigeration cycles, etc. Each utility can be related to its equivalent fuel value, as indicated by the Table B2 (Douglas, 1988). Once the cost of fuel known, the price of other utilities can be easily determined. Note that the prices in Table B2 are only for illustration purposes. 

The following sections illustrate the total revenue requirement method (TRR method) which is based on procedures adopted by the Electric Power Research Institute (EPRI 1993). This method calculates all the costs associated with a project, including a minimum required return on investment. Based on the estimated total capital investment and assumptions for economic, financial, operating, and market input parameters, the total revenue requirement is calculated on a year-by-year basis. Finally, the nonuniform annual monetary values associated with the investment, operating (excluding fuel), maintenance, and fuel costs of the system being analyzed are levelized that is, they are converted to an equivalent series of constant payments (annuities). 

With due account of the higher cost of lead bismuth coolant as compared to that of other liquid metal coolants, measures to reduce the specific mass of lead bismuth have been developed and implemented in the design. Analysis of the experience in the development of power reactors of various types [3] has revealed that specific mass of the coolant decreases with the reduction of reactor s nominal power. On the other hand, there are factors limiting the reduction of lead bismuth coolant mass. Thus, when core dimensions are small, it is impossible to secure that core breeding ratio (CBR) is equal to 1. Calculations have shown that core diameter should be not less than 1600 1700 mm at 900 mm height. Such dimensions make it possible to achieve 100 MW equivalent electric power of the reactor. In this case, CBR = 1 is achieved not only for the mixed nitride fuel but also for the less dense but well mastered MOX fuel. Such CBR can only be assured if the volumetric fraction of fuel is not less than 55 60%. 

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