『Abstract
In 1987, the UK Conservative Party was re-elected promising to
transform the electricity industry into a privatised competitive
industry and to promote an expansion of nuclear power. Fulfilling
both objectives was not possible. The nuclear plants were withdrawn
from the sale and plans to build new plants were abandoned, but
privatisation proceeded. In 2007, the Labour government began
a new attempt to build nuclear plants to operate in the competitive
electricity market, promising that no subsidies would be offered
to them. By 2010, the utilities that were planning to build nuclear
plants were beginning to suggest that ‘support’ in some form would
be needed if they were to build new plants. More surprisingly,
the energy regulator, Ofgem, cast doubt on whether a competitive
wholesale electricity market would provide security of supply.
In 1990, the UK government opted for a competitive electricity
market over expanding nuclear power. Now, the option of opting
for a competitive electricity market may not exist. However, this
might not leave the way open for new nuclear plants. The expected
cost of power from new nuclear plants is now so high that no more
than one or two heavily subsidised plants will be built.
Keywords: Nuclear power; Competitive electricity markets; Ofgem』
1. Introduction
2. Why might liberalisation and nuclear power be incompatible?
3. The failure to privatise nuclear power in 1990
4. The revival of nuclear power's fortunes
5. Progress with introducing competitive energy markets
6. Is nuclear power economically feasible in a competitive market?
6.1. Construction cost
6.2. Cost of borrowing
6.3. Overall economics
6.4. Can we have competitive markets and nuclear power, do we
want either?
References
※Ofgem:英国電力・ガス規制機関:http://www.ofgem.gov.uk/Pages/OfgemHome.aspx