Table 1: Levelised costs of electricity generation, £/MWh Cost category Gas Offshore Wind Onshore Wind Solar Nuclear 2016 2023 2016 2023 2016 2023 2016 2023 2016 2023 Pre Development Construction Fixed O&M Variable O&M Fuel Costs 40 Carbon Costs 29 Decommissioning, Waste 172230° 0723020 <1 5 2 4 69 23 42 23 17 10 3 1 43 0 60 0 0 6980 OOO 3286000 205000 001 3 7 22 49 28 66 10 11 0 0 0 0 0 0 0 615502 TOTAL 82 114 100 44 61 38 63 41 95 95 Sources: BEIS (2016) Electricity Generation Costs 2016; DESNZ (2023) Electricity Generation Costs 2023. Notes: Gas Combined Cycle Gas Turbine H class; Solar-Large Scale Solar; Nuclear-Pressurised Water Reactor; O&M=operating and maintenance costs; Nuclear costs were omitted from the 2023 report
Table 1: Levelised costs of electricity generation, £/MWh Cost category Gas Offshore Wind Onshore Wind Solar Nuclear 2016 2023 2016 2023 2016 2023 2016 2023 2016 2023 Pre Development Construction Fixed O&M Variable O&M Fuel Costs 40 Carbon Costs 29 Decommissioning, Waste 172230° 0723020 <1 5 2 4 69 23 42 23 17 10 3 1 43 0 60 0 0 6980 OOO 3286000 205000 001 3 7 22 49 28 66 10 11 0 0 0 0 0 0 0 615502 TOTAL 82 114 100 44 61 38 63 41 95 95 Sources: BEIS (2016) Electricity Generation Costs 2016; DESNZ (2023) Electricity Generation Costs 2023. Notes: Gas Combined Cycle Gas Turbine H class; Solar-Large Scale Solar; Nuclear-Pressurised Water Reactor; O&M=operating and maintenance costs; Nuclear costs were omitted from the 2023 report
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Levelised costs of key technologies have changed between the 2016 and 2023data. Discuss what has changed, why it has changed, and what are the implicationsfor public choices around electricity generation?(Tip: focus most of your attention on the largest changes, including carbon costs). can you please provide an answer with explanations that dont include text from
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education