Figure 7.9 and Figure 7.10 summarise the estimated values of the SMR LUEC and estimates regional ranges for LUEC for large nuclear, coal, gas and wind power plants, at 5% and 10% discount rates. Ranges for SMR LUEC include the uncertainty associated with the selection of the scaling parameter n from 0.45 to 0.6 (shown graphically at Figure 7.4 and discussed in Section 6.2.1).

The general conclusions from the evaluation of the competitiveness of SMRs performed for the electricity markets (in “on-grid” applications) are similar to the general findings on nuclear power presented in the recent OECD study Projected Costs of Electricity Generation, 2010 Edition [7.1]. However, there are some important SMR-specific conclusions that are summarised below:

• Within the assumptions of the performed evaluation, the nuclear option in general (NPPs with large reactors or with SMRs) is competitive with many other technologies (coal-fired plants, gas-fired plants, renewable plants of the some types) in Brazil[64], Japan, the Republic of Korea, the Russian Federation and the United States, but not in China.

• SMRs, including twin-unit and multi-module plants, generally have higher values of LUEC than NPPs with large reactors (see Figure 7.9 and Figure 7.10). However, like NPPs with large reactors, some SMRs are expected to be competitive with several of the coal-fired, gas-fired and renewable plants of the various types, including those with small to medium­sized capacity (below 700 MWe).

• A plant with SMRs could be a competitive replacement for decommissioned small and medium-sized fossil fuel plants, as well as an alternative to newly planned such plants, in the cases when certain siting restrictions exist (such as limited free capacity of the grid, limited spinning reserve, and/or limited supply of water for cooling towers of a power plant). SMRs (like nuclear in general) could be more competitive if carbon taxes are emplaced.

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In other words, SMRs are more competitive than many non-nuclear technologies for generating electricity in the cases when NPPs with large plants are, for whatever reason, unable to compete.

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