Economic Evaluation on the MOX Fuel in the Closed Fuel Cycle

Abstract

The mixed oxide (MOX) fuel is one of the most important fuels for the advanced reactors in the future. It is flexible to be applied either in the thermal reactor like pressurized water reactor (PWR) or in the fast reactor (FR). This paper compares the two approaches from the view of fuel cost. Two features are involved. (1) The cost of electricity (COE) is investigated based on the simulation of realistic operation of a practical PWR power plant and a typical fast breeder reactor design. (2) A new economic analysis model is established, considering the discount rate and the revenue of the reprocessed plutonium besides the traditional costs in the processes of fuel cycle. The sensitivity of COE to the changing parameters is also analyzed. The results show that, in the closed fuel cycle, the fuel cost of applying MOX fuels in the FBR is about 25% lower than that in the PWR at the current operating and fuel cycle level.