The U.S. has spent $5.2 trillion on the nuclear power industry in the past 10 years, according to an analysis of the costs of nuclear power plants released Thursday by the non-partisan Congressional Budget Office.
But with the economy growing at a faster rate than at any time since the end of World War II, the cost of power has been steadily increasing.
The new cost estimate for the new, $4.5 billion Inductor Line, which was ordered in 2015 and is expected to start generating power in 2018, is a major milestone for the U.N. agency, which in the previous report estimated that the average annual cost of a nuclear power plant was about $3.5 trillion, or about $1.5 for every American.
The Inductors Line, also known as Inductrix, is expected generate more electricity than any existing nuclear power station, according a statement released by Axios.
It will be the first of two major nuclear reactors to be built in the United States and the third in the world.
The budget office said the cost estimate was based on data from a study commissioned by the company.
The study, commissioned by NRC, looked at the cost and efficiency of the existing nuclear reactor designs to estimate the overall costs of constructing new nuclear power reactors.
It found that existing plants could produce more electricity per unit of fuel and the cost would be about $4 billion to $5 billion per reactor, depending on how many fuel rods are in each reactor.
The report found that the Inducters Line would cost about $8.7 billion to build, based on the average cost of one fuel rod.
That figure would be comparable to the costs in other countries.
But the Induces Line, by comparison, could produce as much as $3,600 per kilowatt-hour (kWh) of electricity, or a significant reduction from current cost estimates, according the Axios report.
The average cost per unit is $1,846 in the U:¢¢¢$4,566¢$5,836¢$8,736¢The Induces line has already been completed, but the company has not yet finalized its designs, the statement said.
The company has been working on Inductresses Line since 2015.
The Inductitors Line is scheduled to begin generating electricity in 2018.NRC, the agency charged with overseeing nuclear power, will not release the Inductionors Line’s final designs until they have been certified by the Nuclear Regulatory Commission (NRC), which is responsible for certifying nuclear plants.
The agency said the Inductions Line would be able to produce energy from 1,600 nuclear fuel rods in its first year of operation.
NRC has been tasked with certifying the reactors.
The NRC’s certification process involves a series of steps.
First, the reactor must meet a variety of safety standards.
After a reactor has met all of these safety standards, it is then tested and verified.
In the process, the NRC can certify the reactor as safe.
NERC will hold a public hearing for public comment on the Inductive Line design on Dec. 9.
Nuclear power plant designs are not final until the NERC certifies them.
NUCLEI, the government agency that regulates nuclear plants, will also be required to conduct a review of the Indices Line design.NUCLER will be required, along with other regulatory agencies, to conduct regular reviews of the design.
The cost of the project was not released, but a spokesman for the company said the company expects the Indicators Line will cost $4 million to $4½ million per unit to build.
The company said its estimate is based on information provided by Axio.
The statement also said the number of fuel rods is a key factor in calculating the Indicator Line’s cost.