Economic Prospects of Fuel and Outage Costs for Equilibrium Cycles of a Low Power Density PWR-Style SMR

Small modular reactors (SMRs) have gained attention for their potential to reduce capital investment and enhance deployment flexibility. However, these benefits often come at the cost of reduced neutron economy and efficiency, which could increase the fuel share of the total levelized cost of electricity. This study evaluates the economic performance of a low power density pressurized water reactor–style SMR using the Westinghouse integrated levelized cost of electricity methodology. We investigate the impact of cycle length and core reload fraction on fuel and outage costs for equilibrium cycles. Additionally, a Monte Carlo–based sensitivity analysis is performed to assess the robustness of the results under uncertainty in the economic input parameters. The study also explores the economic viability of adopting low-enriched uranium plus for extended-cycle operation. The results provide insights into fuel utilization and cost optimization strategies for sustainable SMR deployment.