Projected costs of generating electricity.

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FOREWORD	5

EXECUTIVE SUMMARY	11

Generation costs	11
Fuel price assumptions	12
Trends in projected generation costs	12
Decision criteria	12
Findings and conclusions	13

INTRODUCTION	15

Objectives, participation and scope	15
Past studies	16
Recent developments	17
Other relevant studies	18
Limitations of results	20

METHODOLOGY, COVERAGE AND COMMON ASSUMPTIONS	21

Methodology	21
Data source and coverage of the study	21
Assumptions adopted for the reference cases	24

OVERVIEW OF RESULTS	29

Investment costs	29
Operation and maintenance costs	30
Nuclear fuel costs	31
Coal price assumptions	32
Gas price assumptions	32
Overall generation costs	32
Sensitivities	36
Trends in projected generation costs	39

DISCUSSION AND CONCLUSIONS	41


REFERENCES	43