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Chapter 18 - Confronting Uncertainty: Contingency Planning for Decommissioning

Abstract:
Contingency factors are a standard ingredient in all types of estimated costs. The actual contingency figure used, however, is always open to question. Given the absence of large-scale decommissioning projects, the long future time reference, the history of early shutdowns, and possibility of accidents, there continues to be a substantial controversy regarding the contingency level that is most appropriate. In this chapter, Bruce Biewald and Stephen Bernow present a critical review of the matter of contingency factors, arguing that current common levels in the neighborhood of 25 percent are too low.

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Energy Specializations: Nuclear Power – Markets and Prices; Nuclear Power – Policy and Regulation

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Nuclear decommissioning, Uncertainty, Contingency planning, Risks, Radioactive waste

DOI: 10.5547/ISSN0195-6574-EJ-Vol12-NoSI-18


Published in Volume 12, Special Issue of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.