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this post was submitted on 22 Nov 2024
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Nothing in that table is dropping every year.
Capital cost spiked a decade ago, and are now still higher than 2002 levels. Fuel spiked at a similar time and is now back to 2004 levels (but not as low as 2007). Similar story for operating costs.
Basically it looks like 2008 sent nuclear cost through the roof, and it's only just recovering to start of the century prices.
At the top it states these are the costs in USD per MWh after adjusting for inflation.
As you can see, the Operating Costs did in fact spike between 2004 and 2012, but then continued to decrease every year from 2015 to 2020. The Total Generating Costs saw the same spike sometime after 2007 but again went back on the trend of decreasing after 2015.
You've made an excellent point of arguing semantics. I concede that "every year" isn't as accurate as saying "most years except for the spike in 2004-2012".
Falling back to the level they were before the 2008 financial crisis isn't indicative of the technology advancing and a general downward trend. It's just the market normalising.
If we had been not investing in nuclear plants only whilst costs were sky high I'd think you'd have an argument, but we've been avoiding nuclear investments for a lot longer than that.
There have been a lot of technological advances, though. Maybe you just never noticed, but we've had advances in fuel assembly and coolants that allow operation at lower temperature ranges and smaller reactors.
In the future, potential new Thorium Reactors, almost all of which currently operational are for research purposes, could provide another huge leap forward as they produce less plutonium than other standard Uranium isotopes.
Plus, our technology for containing and handling plasma has grown in leaps and bounds, although most of that technology seems to be closely guarded in China so I don't have high hopes for it.