Financing the Canadian Nuclear Fuel Waste Disposal Conceptby K. Fisher, Beak Consultants Ltd, Brampton, Canada,
L. Eckel, Beak Consultants Ltd, Brampton, Canada,
Abstract: This paper describes an approach to the financial analysis of the Canadian concept for the disposal of high-level nuclear fuel waste. The work was conducted on behalf of Environment Canada in preparation for their review of the Environmental Impact Statement (EIS) of the Concept, to be submitted by the proponent, Atomic Energy of Canada Ltd. (AECL), in 1993. The paper specifically addresses the user-charge scheme, which is a key component of the financial analysis of the Concept. In this paper, we identify the key parameters in the structure of a user-charge scheme and evaluate them with respect to the degree to which they enable achievement of key funding scheme objectives: assurance that the funds will be available when needed, attainment of equity and structural capability of responding to change. We identify methods of minimizing the risks inherent in a user-charge scheme used to finance a long-term, highly uncertain project, where forecasting the magnitude and time pattern of future cash outflows is particularly challenging and subject to uncertainties from a variety of sources.
Subject Headings: Fuels | Waste disposal | Radioactive wastes | Financing | Recycling | Risk management | North America | Canada
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