Week 5 - Chapter 7 - Hydropower and Nuclear Power Flashcards

(31 cards)

1
Q

Decommissioning

A

Process of taking a facility out of service and dismantling it

Decommissioning ensures that the facility is no longer a hazard to the environment or public health.

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2
Q

Remediation

A

process of cleaning up contaminated sites

Remediation involves various techniques to remove or contain hazardous materials.

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3
Q

Hyrdraulic head

A

the height of the water column above a given point, influencing water flow

Hydraulic head is critical in determining the potential energy available in hydropower systems.

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4
Q

What type of hydropower system utilizes the natural flow of a river without significant storage?

A

Run-of-river (ROR) hydropower

ROR systems generate electricity while maintaining river flow and ecosystems.

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5
Q

What nuclear process involves splitting atomic nuclei to release energy?

A

Fission

Fission is the principle behind most nuclear reactors.

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6
Q

What type of reactors use ordinary water as both coolant and neutron moderator?

A

Light water reactors (LWRs)

LWRs are the most common type of nuclear reactors in operation.

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7
Q

What are the components that contain nuclear fuel within a reactor?

A

Fuel assemblies

Fuel assemblies are designed to optimize the nuclear reaction within the reactor core.

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8
Q

What is the central part of a nuclear reactor where the nuclear reactions occur?

A

Reactor core

The reactor core contains the fuel assemblies and is critical for the generation of nuclear energy.

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9
Q

What are used to control the rate of nuclear reactions within a reactor?

A

Control rods

Control rods absorb neutrons and help regulate the fission process.

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10
Q

What term refers to the process of increasing the proportion of fissile isotopes in nuclear fuel?

A

Enrichment

Enrichment is essential for achieving the necessary conditions for nuclear fission.

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11
Q

What process involves separating usable fuel from spent nuclear material?

A

Reprocessing

Reprocessing allows for the recovery of fissile materials and reduces waste.

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12
Q

What term refers to the potential risks and concerns associated with the Fukushima disaster?

A

Fukushima risk

Fukushima risk highlights the need for safety and regulatory oversight in nuclear energy.

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13
Q

What nuclear reaction involves combining atomic nuclei to release energy?

A

Nuclear fusion

Fusion is the process that powers the sun and has potential for future energy generation.

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14
Q

What is the term for the cost of constructing a nuclear power plant without financing or escalation?

A

Bare erected cost (BEC)

BEC includes the costs of labor and materials directly associated with construction.

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15
Q

What is the total cost of constructing a nuclear power plant, including financing costs?

A

Total plant cost (TPC)

TPC provides a comprehensive view of the financial requirements for a nuclear facility.

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16
Q

What represents the total cost incurred for the construction of a plant, including all expenses?

A

Total overnight cost (TOC)

TOC is an important metric for evaluating project costs and timelines.

17
Q

What is the term for the total costs actually spent on a project, regardless of budget?

A

Total as-spent cost (TASC)

TASC reflects the real financial outlay for project completion.

18
Q

What term describes the risk associated with delays in project completion?

A

Completion risk

Completion risk can lead to increased costs and project overruns.

19
Q

What does EPC stand for in the context of construction and project management?

A

EPC contractor

EPC stands for Engineering, Procurement, and Construction, a common project delivery method.

20
Q

What term refers to the stage in construction when the project is ready for operations?

A

Mechanical completion

Mechanical completion indicates that systems are installed and functioning as intended.

21
Q

What is the final stage of a construction project when it is fully completed?

A

Final completion

Final completion signifies that all contractual obligations have been fulfilled.

22
Q

What are penalties imposed for failing to meet contractual deadlines called?

A

Liquidated damages (LD)

LD are predetermined damages specified in contracts to incentivize timely completion.

23
Q

What is a financial guarantee provided by a contractor to ensure project performance?

A

Performance bond

Performance bonds protect the project owner against contractor default.

24
Q

1. Completion risk

A

The risk that a project, once construction commences, fails to be completed on time or on budget. Completion risk also covers projects that fail to deliver the expected level of output or require additional inputs at the time of construction.

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2. Revenue risk
The risk that the expected receipts for the sale of the outputs of a project fail to meet expectations over time. This can happen because the price received for outputs is lower than expected for part or all of the period of operation or because some volume of output cannot be sold into the marketplace.
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3. Supply risk
The problem of either unexpectedly costly inputs or supply chain disruptions. While some of these supply risks can be hedged, some cannot, at least not at a reasonable price.
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4. Technology risk
The risk that the components used in a project, once commissioned, fail to meet technical performance expectations over the lifetime of the project. Project performance, efficiency, conversion ratio, and throughput tend to degrade over time, but if they degrade more than expected at the outset of the project, they can negatively impact the project economics and compensation of investors.
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5. Operational risk
The risk that the project, once put into service, fails to meet expectations of output. Projects that fail to meet lifetime expectations also possess operational risk.
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6. Policy and political risk
Policy risk is the risk that policies imposed after commencement might alter the economics of the project, such as restrictions on operation, additional cost for environmental controls or safety, or changing the method of compensation for project output. Political risk, though similar, deals with international risks facing projects largely sited in foreign locations, including threat of war, civil strife, asset expropriation by host governments, or restrictions on repatriating proceeds.
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7. Environmental risk
This represents a variation of both completion risk and operational risk, specifically tied to environmental concerns. The potential for a project to be delayed due to regulatory or environmental approvals, as well as to be shut down due to a failure to comply with existing (or even future) environmental rules is subject to environmental risk. As described in Chapter 12, not all technologies share equal exposure to these risks, but every technology is affected by some environmental impact that could present a risk.
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7 Types of Project Risks
1. Completion risk 2. Revenue risk 3. Supply risk 4. Technology risk 5. Operational risk 6. Policy and political risk 7. Environmental risk