Economic competitiveness of large-scale nuclear power plants in the context of energy transition and carbon neutrality

Abstract

This article provides a comprehensive analysis of the techno-economic factors influencing the competitiveness of large-scale nuclear power plants in the context of the global energy transition and carbon neutrality commitments. Drawing on synthesised data from international organisations and representative projects, the article evaluates investment and operational costs, financial risks, policy frameworks, and benchmarks nuclear power against other generation technologies such as renewables, natural gas, and clean coal. The findings indicate that although large nuclear projects face high upfront costs and long construction periods, they offer significant advantages in terms of system reliability, low operating costs, long plant lifetimes, and virtually zero greenhouse gas emissions during operation. The competitiveness of nuclear power can be further enhanced through appropriate financial mechanisms, transparent carbon pricing, standardised designs, and fleet deployment. The article concludes that, with stable policy support and effective project management, large-scale nuclear power can serve as a strategic baseload electricity source for sustainable development. Several policy recommendations are also proposed for developing countries, energy policymakers, and investors interested in this sector.