Preliminary Economic Assessment of GW Scale

This report carries out preliminary economic assessments for the potential levelized cost of producing hydrogen from GW scale new build nuclear reactors at multiple financing rates that could be consistent with a Regulated Asset Base (RAB) financing model. Exclusively using BEIS published data as inputs, and remaining consistent with BEIS published economic calculation methods, the costs for nuclear driving PEM, Alkali and solid oxide electrolyers are assessed and are shown to be potentially cost competitive with other forms of low carbon hydrogen production. The work adds to the 2021 Hydrogen Production Costs modelling by BEIS, which did not fully assess the economics of nuclear enabled hydrogen and therefore highlights a potential opportunity for the hydrogen sector to draw on an additional source of low carbon hydrogen.