Select Committee on Science and Technology First Report


Criteria used for calculation of the cost of generating electricity
1.That the plant would be a new build, constructed today to meet the Large Combustion Plant Directive (2001/80/EC). It is assumed the costs would be representative of series-ordered plant.
2.The mode of operation of the plant would be base load, 8000 operational hours each year.
3.Capital costs are on engineering procurement and construction (EPC) basis.
4.Fuel specified as coal or gas. Base-case fuel prices would be 1.4 £/GJ coal (net calorific value) and 4.0 £/GJ gas (also illustrating sensitivity to 3.0 and 5.0 £/GJ gas if possible).
5.A net output of the plant delivered to the UK grid of 800MW.
6.Delivery pressure for CO2 would be 110 bar, pipeline quality.
7.Discount rate of 10% real and project (investment) lifetime of 25 years.
8.  CO2 transportation and storage facilities - it is assumed that one 800MW power plant would share the transport and storage facilities with others; it is suggested that a representative basis for offshore geological storage assuming a new construction is 10Mt/y of CO2 transported and injected (which would serve several power stations).

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Prepared 9 February 2006