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 0723 <1 5 7 69 2 23 237 4 3 6 42 22 49 28 17 10 8 8 10 Variable O&M 3 2 3 1 5 6 0 Fuel Costs 40 43 0 0 0 Carbon Costs 29 60 0 0 0 Decommissioning, Waste 0 0 0 1 0 000 0 0 0 3800000 7 66 11 5 5 0 2 TOTAL 82 114 100 44 61 38 63 41 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 What do these 'levelised costs' represent, and how are they calculated?
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 0723 <1 5 7 69 2 23 237 4 3 6 42 22 49 28 17 10 8 8 10 Variable O&M 3 2 3 1 5 6 0 Fuel Costs 40 43 0 0 0 Carbon Costs 29 60 0 0 0 Decommissioning, Waste 0 0 0 1 0 000 0 0 0 3800000 7 66 11 5 5 0 2 TOTAL 82 114 100 44 61 38 63 41 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 What do these 'levelised costs' represent, and how are they calculated?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
can you give a detailed deverlped answer for this question , showing an understanding of the topic, with clear explanations that justify each argument
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