Transition Costs to the Closed Nuclear Fuel Cycle with Fast Reactors and Their Impact on the Strategies of Its Introduction

The paper presents results of the study on economic aspects of the transition from the current nuclear energy system (NS) overwhelmingly based on the open nuclear fuel cycle (NFC) with thermal reactors to the NS with substantial inclusion of the closed NFC and balanced fleet of thermal and fast reactors. This transition will require pre-commercial investments (transition costs) which include RD&D cost, investments in prototype facilities, etc. It is shown in the paper that the transition costs have significant impact on economic viability of the CNFC-FR system and have to be taken into account in developing market driven strategies of its introduction.