- Source: ‘The costs of generating electricity’, PB Power, Royal Academy of Engineering, March 2004
- A report generated for the Royal Academy of Engineering in 2004 provides these costs. Note that calculating true costs for energy generation is difficult and likely to always be subject to criticisms. These figures should be used to provide an idea of the relative costs rather than an absolute reference.
- These figures represent just the cost to generate electricity (in pence per kWhr) delivered at the boundary of the power station site. This cost value includes the capital cost of the generating plant and equipment; the cost of fuel burned (if applicable); and the cost of operating and maintaining the plant in keeping with UK best practices. With the exception of nuclear, the analysis assumes that decommissioning is cost neutral. The capital cost estimate for nuclear plant includes an allowance for the decommissioning. The cost values do not account for added cost of carbon emissions.
- Some renewables, such as wind, have inherent fluctuations in the energy source itself requiring additional, fast response, standby generating plant to maintain system security as the energy source fluctuates.
List of Abbreviations:
PF = pulverised fuel
CFB = circulating fluidized-bed
IGCC = integrated gasification combined cycle
OCGT = open-cycle gas turbine
BFB = bubbling fluidized bed. Poultry litter BFB steam bed
