Atoms for Peace +50 Andy White – President & CEO, GE Nuclear Energy.
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Transcript of Atoms for Peace +50 Andy White – President & CEO, GE Nuclear Energy.
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Atoms for Peace +50Atoms for Peace +50
Andy White – President & CEO, GE Nuclear Energy
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Sustainable Nuclear GrowthSustainable Nuclear Growth
The original Atomic Industrial Forum members envisioned an Industry prospering through:
• Advanced Engineering
• Business Acumen
• Enlightened Public Policy
Suppliers, Owners & Policy Makers … All Have Key RolesSuppliers, Owners & Policy Makers … All Have Key Roles
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Nuclear Industry SuccessNuclear Industry Success
• Safety
• Plant Performance
• Economics and owner value
• Environmental impact
The measures of success are the same today as they were 50 years ago:
Has The Vision of Atoms for Peace Been Achieved?Has The Vision of Atoms for Peace Been Achieved?
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Nuclear Performance Gains UnparalleledNuclear Performance Gains Unparalleled
Safety & Performance Gains Are LinkedSafety & Performance Gains Are Linked
0%
50%
100%
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
Year
Cap
acit
y F
acto
r
0
500
1000
Gen
erat
ion
(B
illi
on
Kw
hr)71 71 74 77 76 74
80 85 87 89 90
RecordPerformance778 Billion kWhrs
GenerationCapacity FactorCDF
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Nuclear Generation Costs Down 40% Nuclear Generation Costs Down 40%
Driven by Performance ImprovementsDriven by Performance Improvements
0
5
10
15
20
25
30
35
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
Gen
erat
ion
Co
sts
($/M
wh
r) 30.3 29.927.3
25.5 25.227.2
23.521.2 20.5 19.4 18.8
FuelCapital ImproveO&M
2002 Dollars
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The EnvironmentThe Environment
Provides Emission Free & Sustainable Energy ResourceProvides Emission Free & Sustainable Energy Resource
Over the past 50 years, US Nuclear Plants Have:
• Generated 13.7 Trillion Kilowatt-Hours of Electricity
• Zero Carbon Depletion & Emission Free!
Avoiding:
• 3.1 Billion Metric Tons of Carbon
• 73.6 Million Tons Sulfur Dioxide
• 35.6 Million Tons of Nitrogen Oxides
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BWR
PWR
The US Nuclear FleetThe US Nuclear Fleet
Anchors the Grid and Stabilizes Generation CostsAnchors the Grid and Stabilizes Generation Costs
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Where Are We Today?Where Are We Today?
A Key Part of the US Energy Generation Portfolio A Key Part of the US Energy Generation Portfolio
Installed CapacityInstalled Capacity EnergyEnergy
11% 10%
31%
34%
14%
Hydro Nuclear
Coal
Gas
Other
8% 19%
51%
18%
4%
Hydro Nuclear
Coal
Gas
Other
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Global Power GenerationGlobal Power Generation
335 GW Market Potential over Next 4 Years335 GW Market Potential over Next 4 Years35% of Orders Come from China35% of Orders Come from China
2003 – 2006 Orders Forecast2003 – 2006 Orders Forecast
Asia AIM Europe Ltn. Amer. N. Amer.
187
57 50
2815
China
125
Rest of Asia62
Rest of Asia62
Source: EPM S1 Forecast
(GW)(GW)
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Improving PerformanceImproving Performance
Nuclear Economics Good for New UnitNuclear Economics Good for New Unit
0
5
10
15
20
25
30
35
40
ExistingNuclear Plant
New AdvancedNuclear
(ESBWR)
New Coal New CCGT Gas
$/M
Wh
r
Capital
O&M
Fuel
$37.3$34.4
$29.4
$22.5
Setting the Stage for New Nuclear PlantsSetting the Stage for New Nuclear Plants
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Next Generation Reactors• Design Highlights
– 1,400 MWe Plant With Simplified Systems
– Passive Safety Features
• Overall Schedule
– Licensing Process Started 2002
– Regulatory Approval Expected 2006
• Key Benefits
– Faster Construction, Lower Costs
– Improved Safety and Security
– Improved O&M Costs
ESBWR Can Meet U.S. Owner’s New NeedsESBWR Can Meet U.S. Owner’s New Needs
Latest Design for U.S. MarketsLatest Design for U.S. Markets
ESBWRESBWR
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Hydrogen Energy …Hydrogen Energy …
Advantages
• Most Abundant Element
• Catalytic Process Creates Water (Fuel Cells)
• Energy/kg = 3x Natural Gas or Gasoline
Advantages
• Most Abundant Element
• Catalytic Process Creates Water (Fuel Cells)
• Energy/kg = 3x Natural Gas or Gasoline
Nuclear Role
• HTGR - Zero Carbon Depletion & Emissions
Nuclear Role
• HTGR - Zero Carbon Depletion & Emissions
HH22 Energy … A Slow Transition Energy … A Slow Transition
The Challenge
• Infrastructure Not in Place
• Cost of Energy Drives Market - No Cost of Carbon Dioxide (Greenhouse) Today
The Challenge
• Infrastructure Not in Place
• Cost of Energy Drives Market - No Cost of Carbon Dioxide (Greenhouse) Today
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Final ThoughtsFinal Thoughts
•Nuclear Energy Is Key To a Balanced Energy Portfolio
•Credits for Emission Free, Zero Carbon depletion Nuclear Energy
•Next Generation Reactors Address Safety & Economics
•Need New Unit Incentives For Customers
A Key Role In A Sustainable & Balanced PortfolioA Key Role In A Sustainable & Balanced Portfolio