Financial and Economic Approach to Spent Nuclear Fuel and Radioactive Waste Management: Determination of Radioactive Waste Guarantee for Türkiye

Radioactive waste (RW) and spent fuel require a well-structured financing framework due to substantial costs. The primary objective of this study is to assess the level of guarantee required for the cost and financing of RW management in Türkiye, considering various scenarios. This study has also been conducted for the benefit of newcomers to the nuclear power industry and those who conduct cost studies for (RW and spent nuclear fuel (SNF). The study commenced by conducting economic analyses of SNF and RW management practices in countries with operational nuclear reactors. Subsequently, formulas were developed to determine the quantities of RW that would need to be managed in Türkiye under different scenarios. The formula for determining fees for very low-level waste and short-lived low- and intermediate-level waste is based on annual monitoring and international agreements. The most challenging parameters are fee collection and reduced total cost, which require assumptions about processes, discount and inflation rates, and cost breakdowns. The cost of managing RW for one, two, or three nuclear power plants (NPPs) was calculated based on nine scenarios. The minimum and maximum costs for RW management over 15 years were determined, ranging from $158 million to $629 million, depending on the number of NPPs. Establishing a financial mechanism and guarantee method is crucial for managing SNFs and RW, as countries adopt diverse approaches based on economic and financial considerations. Finally, recommendations were proposed regarding the guarantee structure from a cost and financial perspective for the effective management of these processes.