Comparing And Projecting The Levelised Cost Of Electricity Generated By New Gas, Coal, Nuclear Power Stations And Wind Energy (On- And Offshore)

 Develop a model to calculate the levelised cost of electricity generated by newly built power plants.  Projection of the cost for the years 2020, 2030 .  Including the risks associated with the operation of the different power technologies and compare the results.  The aim of this paper is to present the methodology for calculating and projecting the levelised cost of electricity (LCOE) generated from new fossil fuel, nuclear power stations and wind energy both on- and offshore. This methodology takes into consideration the risk of the cost associated to the fuel and carbon price volatility. A risk factor is inserted when accounting for these cost components, in order to form a fair basis for comparison amongst the different technologies. Additionally, the levelised cost of electricity is projected for the years 2020 and 2030. The effect of technology learning is taken into account in the methodology, providing a clear picture for the evolution of the cost. Under the considered assumptions, the results illustrate that electricity generated by wind power is and will be more competitive amongst the technologies examined in terms of levelised cost of electricity.