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Cost overruns and financial risk in the construction of nuclear power reactors: a critical appraisal

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posted on 2023-06-09, 04:47 authored by Alexander Gilbert, Benjamin SovacoolBenjamin Sovacool, Philip JohnstonePhilip Johnstone, Andrew StirlingAndrew Stirling
Lovering and colleagues attempt to advance understanding of construction cost escalation risks inherent in building nuclear reactors and power plants, a laudable goal. Although we appreciate their focus on capital cost increases and overruns, we maintain in this critical appraisal that their study conceptualizes cost issues in a limiting way. Methodological choices in treating different cost categories by the authors mean that their conclusions are more narrowly applicable than they describe. We also argue that their study is factually incorrect in its criticism of the previous peer-reviewed literature. Earlier work, for instance, has compared historical construction costs for nuclear reactors with other energy sources, in many countries, and extending over several decades. Lastly, in failing to be transparent about the limitations of their own work, Lovering et al. have recourse to a selective choice of data, unbalanced analysis, and biased interpretation.

History

Publication status

  • Published

File Version

  • Accepted version

Journal

Energy Policy

ISSN

0301-4215

Publisher

Elsevier

Volume

102

Page range

644-649

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2017-01-18

First Open Access (FOA) Date

2017-04-14

First Compliant Deposit (FCD) Date

2017-01-18

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