"the cost of a two-unit plant will be on the order of magnitude of $13 to $14 billion"

Interesting article about the various cost estimates for new nuclear plants.
Note: Although they share the same initials, "Nuclear Engineering International Magazine" is not associated with "Nuclear Energy Institute".

http://www.neimagazine.com/story.asp?sectioncode=76&storyCode=2047917

How much?
20 November 2007
For some utilities, the capital costs of a new nuclear power plant are prohibitive.

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There are many other figures available, including the June 2007 report by The Keystone Center, titled Nuclear Power Joint Fact-Finding. This study, which was funded by several nuclear plant operators as well as other interested parties including General Electric and NEI, estimates overnight costs of $2950/kWe (in 2007 dollars). With interest, this figure translates to between $3600/kWe and $4000/kWe.

Interestingly, when Nuclear Power Joint Fact-Finding was released, the nuclear industry press chose to either focus on other aspects – in particular the ‘finding’ that nuclear is a viable option for dealing with climate change – or ignore the report altogether. Considering the number of organisations involved in the nuclear industry that backed the report, this low level of coverage is anomalous, and suggests a certain amount of discomfort with the findings.

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The same issues were covered in detail by Lew Hay, chairman and CEO of FPL, in the Biannual General Meeting of the World Association of Nuclear Operators (Wano), held in Chicago, Illinois on September 23-25. Hay told the meeting: “Although suppliers keep quoting overnight costs of $2500 to $3500 per kilowatt, I believe the all-in costs are likely to be much higher – possibly twice as much once you factor in owners’ costs such as land, cooling towers, switchyard, etc, interest during construction and cost escalation due to inflation and cost overruns. And of course we have to have a contingency as well.”

He went on: “If our cost estimates are even close to being right, the cost of a two-unit plant will be on the order of magnitude of $13 to $14 billion. That’s bigger than the total market capitalisation of many companies in the US utility industry and 50% or more of the market capitalisation of all companies in our industry with the exception of Exelon.”

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n/t

Renewables like solar PV (thin film and with concentrators) and ocean/river/tidal power look to be
more cost effective before many of these could be built.