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Chapter 7 - The Cost of Decommissioning U.S. Reactors: Estimates and Experience

Gene R. Heinze Fry

Year: 1991
Volume: Volume 12
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-NoSI-7
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Abstract:
Decommissioning is in its infancy, but our cost experience includes several dozen small, experimental reactors plus the 72 MWe Shippingport reactor. Decommissioning is only beginning at large reactors, but the insights already accumulated allow some use of this experience in future estimates. In this chapter, Gene Heinze Fry compares generic cost estimates plus the data for a total of 21 closed U.S. reactors. Despite the common assumption about the efficiencies that will come with more decommissioning experience, Fry finds a complete lack of scale economies. This could have implications for rates of collection, sufficiency of accumulated funds, and equity issues tied to future generations.



Chapter 9 - Greenfield Decommissioning at Shippingport: Cost Management and Experience

William Murphie

Year: 1991
Volume: Volume 12
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-NoSI-9
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Abstract:
Although there are many indications that nuclear power plants are likely to stay on site for a period of 60 to 100 years after closure, there are also several reasons to remove the facility from the landscape, such as the desire to use the site for a new power plant or other purpose, safety, and aesthetics. Such removal is underway in several countries including Japan, the United Kingdom, and Germany. In this chapter, William Murphie gives us a unique look at the internal cost management and engineering planning experience acquired during the first U.S. commercialsize plant removal, recently completed at the Shippingport Atomic Power Station near Pittsburgh. The project was especially valuable as it provided a detailed comparison between estimated and actual costs. Some of the more important findings were that (1) detailed advance planning is cost effective, (2) labor costs can result in significant increases in total costs, (3) waste disposal costs can bring about substantial discrepancies between planned and realized costs, and (4) actual costs were within 10 percent of the estimated costs. Although there are several differences between the Shippingport reactor and other power plants, this project afforded the nuclear community an early opportunity to gain insights into many of the contingencies that may occur with full dismantlement.



A Quantitative Model of the Oil Tanker Market in the Arabian Gulf

Lutz Kilian, Nikos Nomikos, and Xiaoqing Zhou

Year: 2023
Volume: Volume 44
Number: Number 5
DOI: 10.5547/01956574.44.4.lkil
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Abstract:
Using a novel dataset, we develop a structural model of the Very Large Crude Carrier (VLCC) market between the Arabian Gulf and the Far East. We study how fluctuations in oil tanker rates, oil exports, shipowner profits, and bunker fuel prices are determined by shocks to the supply and demand for oil tankers, to the utilization of tankers, and to the cost of operating tankers, including bunker fuel costs. Our analysis shows that time charter rates are largely unresponsive to tanker cost shocks. In response to higher costs, voyage profits decline, as cost shocks are only partially passed on to round-trip voyage rates. Oil exports from the Arabian Gulf also decline, reflecting lower demand for VLCCs. Positive utilization shocks are associated with higher profits, a slight increase in time charter rates and lower fuel prices and oil export volumes. Tanker supply and tanker demand shocks have persistent effects on time charter rates, round-trip voyage rates, the volume of oil exports, fuel prices, and profits with the expected sign.





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