Coping with nuclear power risks: the electric utility incentives
Journal Article
·
· Nucl. Saf.; (United States)
OSTI ID:5477644
The financial risks associated with nuclear power accidents are estimated by interpolating between frequency-vs.-severity data from routine outages and the frequency-vs.-severity estimates from the Nuclear Regulatory Commission's (NRC's) Reactor Safety Study (WASH-1400). This analysis indicates that the expected costs of plant damage and lost power production are large compared to the public risks estimated in WASH-1400, using values from An Approach to Quantitative Safety Goals for Nuclear Power Plants (NUREG-0739), prepared by the NRC Advisory Committee on Reactor Safeguards. Analyses of the cost-effectiveness of accident-prevention investments that include only anticipated public safety benefits will underestimate the value of such investments if reductions in power plant damage risk are not included. The analysis also suggests that utility self-interest and the public interest in safety are generally coincident. It is argued that greater use could be made of this self-interest in regulation if the relationship between the NRC and the industry were more cooperative, less adversary in nature.
- Research Organization:
- Electric Power Research Inst., Palo Alto, CA
- OSTI ID:
- 5477644
- Journal Information:
- Nucl. Saf.; (United States), Journal Name: Nucl. Saf.; (United States) Vol. 23:1; ISSN NUSAA
- Country of Publication:
- United States
- Language:
- English
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NATIONAL ORGANIZATIONS
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220901 -- Nuclear Reactor Technology-- Reactor Safety-- Accident Liability
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
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COMPARATIVE EVALUATIONS
COST BENEFIT ANALYSIS
DATA
ELECTRIC UTILITIES
FINANCIAL DATA
HAZARDS
INFORMATION
NATIONAL ORGANIZATIONS
NUCLEAR FACILITIES
NUCLEAR POWER PLANTS
POWER PLANTS
PUBLIC HEALTH
PUBLIC UTILITIES
REACTOR SAFETY
REGULATIONS
RISK ASSESSMENT
SAFEGUARD REGULATIONS
SAFETY
THERMAL POWER PLANTS
US NRC
US ORGANIZATIONS