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Nuclear Construction Lead Times: Analysis of Past Trends and Outlook for the Future

Marcy A. Radlauer, David S. Bauman, and. Stephen W. Chapel

Year: 1985
Volume: Volume 6
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No1-6
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Abstract:
Cost, duration, and other uncertainties of nuclear construction have recently been in the forefront of the news. Tales of mismanagement, inconsistent quality assurance, and utility financial woes have prompted many to ask why it takes so long and costs so much to build a nuclear power plant, and what the outlook is for plants currently under construction.



Capacity Planning Under Uncertainty: Developing Local Area Strategies for Integrating Distributed Resources

Charles D. Feinstein, Peter A. Morris and Stephen W. Chapel

Year: 1997
Volume: Volume 18
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol18-NoSI-5
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Abstract:
This paper presents a methodology that helps DR planners evaluate strategic investment policies under uncertainty. Application of the methodology will not only lower utilities' costs, but also help them prepare for the future with contingency plans and a deeper understanding of the opportunities and risks they face. The formulation responds to the need to evaluate future options as uncertainty unfolds over time. For such problems, the joint consideration of dynamics and uncertainty makes the problem much too large for conventional probabilistic analysis methods and places it beyond the scope of conventional deterministic engineering analyses. The problem is formulated as a dynamic optimization problem under uncertainty. A practical solution technique for solving the problem based on a compact specification of the system state is introduced. An example, taken from actual practice, is presented. The potentially large economic value of DR investments in providing managerial flexibility is quantified. We demonstrate that the optimal level of DR investment found by our approach is superior to the level of DR investment specified by existing methodologies. Although the concepts are presented in the context of electric utility distributed resources planning, they are more widely applicable to other strategic investment problems.





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