Economics of nuclear power plants to the extent of 3.4 billion pounds. In general, coal and nuclear plants have the same types of operating costs (operations and maintenance plus fuel costs). However, nuclear has lower fuel costs but higher operating and maintenance costs. Nuclear plants require fissile fuel. Generally, the fuel used is uranium, although other materials may be used (See MOX fuel). In 2005, prices on the world market for uranium averaged US$20/lb (US$44.09/kg). On 2007-04-19, prices reached US$113/lb (US$249.12/kg). On 2008-07-02, the price had dropped to $59/lb. Fuel costs account for about 28% of a nuclear plant's operating expenses. As of 2013, half
Economics of nuclear power plants Economics of nuclear power plants New nuclear power plants typically have high capital costs for building the first several plants, after which costs tend to fall for each additional plant built as the supply chains develop and the regulatory processes improve. Fuel, operational, and maintenance costs are relatively small components of the total cost. The long service life and high productivity of nuclear power plants allow sufficient funds for ultimate plant decommissioning and waste storage and management to be accumulated, with little impact on the price per unit of electricity generated. Additionally, measures to mitigate climate change such as a