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© 2012 Generation mPower LLC All Rights Reserved. 1
© 2012 GENERATION MPOWER LLC ALL RIGHTS RESERVED.
This document is the property of Generation mPower LLC (“GmP”) and is “CONFIDENTIAL AND PROPRIETARY” to GmP.
Recipient and/or its representatives have, by receiving same, agreed to maintain its confidentiality and shall not reproduce, copy, disclose or disseminate the contents,
in whole or in part, to any person or entity other than the Recipient and/or Recipient’s representatives without the prior written consent of GmP.
The information contained herein is provided for general information purposes only and is not intended nor to be construed as a warranty, an offer, or any representation of contractual or other legal responsibility.
B&W mPower Small Modular Reactor Creating the future of nuclear power
EFCOG Executive Council Semi-Annual Meeting December 5, 2012
© 2012 Generation mPower LLC All Rights Reserved. 2
The 10 Game-Changers:
1. 2 x 180MWe* units
2. Compact <40-acre site footprint*
3. Separated Nuclear and Turbine Islands
4. All safety-related systems underground
5. One-to-one reactor to T/G alignment
6. Optimized for minimum staff and O&M
7. Water- or air-cooled condenser option
8. Conventional steam cycle components
9. “Island Mode” and load following operation
10. Small EPZ radius, down to 1000 feet
*with water-cooled condenser
“Twin Pack” mPower Plant Site Layout
More Flexible, More Practical, More Affordable
© 2010 Babcock & Wilcox Nuclear Energy, Inc. All rights reserved.
mPower “Twin Pack” Site Layout with Water-Cooled Condenser
Patent Pending
Patent Pending
© 2012 Generation mPower LLC All Rights Reserved. 3
“ Simple and robust” architecture lowers cost and risk, enhances licensing
mPower Nuclear Island Features Fully underground
Protected from external threats
Enables security-informed architecture
More efficient seismic design
Robust containment, with space for O&M
“Passive safety” design
No safety-related emergency AC power
72-hour safety-related control/monitoring battery
No shared active safety systems between units
14-day “coping time” under station blackout
Simple, with no sprays, sumps, or recirculation
Enhanced spent fuel pool configuration
Underground, inside reactor building
Large heat sink with 30-day “coping time”
© 2012 Generation mPower LLC All Rights Reserved. 4
Modular ALWR with best of Generation III+ features … low risk, low cost and passively safe
B&W mPower™ Reactor Integral 530 MWt NSSS module
Internal CRDMs, SG, Pressurizer and Coolant Pumps
Lowest penetration 23 feet above top of active fuel
50-degree superheat in Secondary Loop
60-year design life, rail shippable
Next generation passive safety design philosophy
Core remains covered during all Postulated Accidents
Non-safety “defense-in-depth” systems used first
Multiple defense-in-depth layers deliver ~10-8/yr CDF
4-Year fuel cycle with “standard” PWR fuel
69 fuel assemblies with <5% 235U enrichment
~40 GWD/T burn-up and no shuffling delivers economics
Burnable poisons, no chemical boron shim in coolant
Full reactivity control using 69 control rod assemblies
1. Pressurizer
2. Reactor Coolant Pumps
3. Once-Through Steam Generator (OTSG)
4. Feedwater Inlet / Steam Outlet
5. Electro- Hydraulic CRDMs
6. Upper Internals
7. Reactor Core
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© 2012 Generation mPower LLC All Rights Reserved. 5
Threats mPower Design Features
Earthquakes and Floods • Seismic attenuation
• “Water-tight” and isolated from environment
Loss of Offsite Power • Passive safety-systems
• Defense-in-depth eliminates “cliff edge”
Station Blackout • 72-hour safety-related DC power supply
• Robust 14-day extended plant “coping time”
Emergency Core Cooling • Gravity (not pumps) delivers cooling
• Slow postulated accident progression
Containment Integrity • Passive hydrogen recombiners
• Long-term internal cooling source
Spent Fuel Cooling • Underground, protected structure
• Large 30-day passive heat sink
Multi-layer defense … mitigates extreme beyond-design basis challenges
Full protection against “Fukushima-type” Events
© 2012 Generation mPower LLC All Rights Reserved. 6
Formal alliance between B&W and Bechtel
Joint Venture agreement executed July 14, 2010
Substantial investment commitments by B&W and Bechtel
Recognized and established energy industry leaders
B&W:
• 60+ years of nuclear engineering and manufacturing experience
• Exclusive B&W mPower™ reactor technology
Bechtel Power:
• 60+ years of nuclear power industry experience
• Integrated engineering and project management leadership
Alliance objectives
Design, license and deploy first commercially viable Gen III++ SMR
Improve cost and schedule certainty, with reasonable investment
Increase accessibility to nuclear power across global energy industry
A “game changer” for the global energy industry
www.generationmpower.com
Generation mPower LLC
© 2012 Generation mPower LLC All Rights Reserved. 7
Design Status
Full-scale development ongoing since 2009 with design staff of ~400 FTEs
NSSS is 50% design complete with robust core and safety margins
Plant and Nuclear Island architecture defined, seismic analysis underway
New, full-fidelity Integrated Systems Test (IST) facility operational
Full-scale Control Room and engineering simulator complete
Critical components status:
• Steam Generator – detailed design based on proven B&W OTSG technology
• CRDM – operational “in vessel” prototype built, separate effects testing underway
• RCP – conceptual design complete for canned-motor solution, vendor engaged
• Fuel – full-scale dummy fuel assembly fabricated, CHF testing 50% complete
Robust component prototyping complements full scale development
© 2012 Generation mPower LLC All Rights Reserved. 8
Component Prototyping • Reactor Coolant Pump
• Control Rod Drive Mechanisms
• Fuel Mechanical Testing
• CRDM/Fuel Integrated Test
• Fuel Critical Heat Flux
• Emergency Condenser
Integrated Systems Testing • Heat Transfer Phenomena
• Steam Generator Performance
• LOCA Response
• Pressurizer Performance
• Reactor Control
CONFIDENTIAL AND PROPRIETARY TO B&W
Dedicated mPower facility … backbone of $100M testing program
Testing Program
© 2012 Generation mPower LLC All Rights Reserved. 9
Licensing Strategy Lead Plant (TVA Clinch River): 10CFR50
First U.S. site-specific SMR license application
10CFR50 license approach lowers FOAK risk
CP is opportunity to identify NRC issues early
Manage regulatory risk with early engagement
Subsequent Plants: 10CFR52 with DC/COLA
Gain DCD efficiency by levering PSAR work
Submit DCA during 4Q13
Target Design Certification by NRC in 2017
Resolve all known FOAK issues before filing DCA
On-target for Design Certification Application … No NRC Regulation Changes
Prepare CPA
NRC Review
Prepare OL / FSAR
NRC Review
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
CP CPA OL
Hearings
Submit DCA DC Issued
Milestones:
Design / Testing & DCD Preparation
2021
© 2012 Generation mPower LLC All Rights Reserved. 10
Competitive Levelized Cost of Electricity (LCOE)
Competitive LCOE range: $88-96/MWh
Key Assumptions: Fuel range = $4.00 - $10.0/MMBtu (NG); $2.35/MMBtu (Coal) CO2 price range = $0 - $30/ton Capacity factor = 92% (Large Nuclear and Coal); 95% (SMR) ; CCGT: 40-85% CAPEX range = $4600 - $6000/kW (Large Nuclear)
Minimize Overnight Cost
• Optimum power output (180 MWe)
• Simple standard plant layout and design
• Competitive global supply chain
• Innovative modularization
• Short construction schedule (3 years)
• $5000/kW* for 360 MWe greenfield plant
*current estimates
Optimize Operating Costs
• “Plug and Play” design levers existing infrastructure
• 80% reduction in security staff with normal DBTs
• 3 licensed operators/shift for “two-pack”
• Fleet O&M support enabled by standardization
• DCWG approach with IAC for utility-centric design
LCOE Comparison (ERCOT example)
© 2012 Generation mPower LLC All Rights Reserved. 11
Fixed O&M 360 MWe 720 MWe Staffing (# of personnel) 298 427 Labor Cost $35.4M $51.3M
Utilities, Supplies, Services $1.2M $2.4M
NRC Fees (est.) $2.9M $5.8M
Other Fees (INPO, NEI, EP, etc.) $2.8M $3.9M
Taxes, Insurance $1.5M $3.0M
Total Fixed O&M $43.8M $66.4M
18.3
14.8
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Twin Pack Four Pack
298
staff 427
staff
Key Assumptions:
Based on 2004 DOE/Dominion study Reflects greater simplicity/automation
Greenfield, water-cooled plant 95% capacity factor 48-month fuel cycle / 15-day refueling Centralized O&M support / remote M&D
Estimated Annual Operating Costs O&M costs ($/MWh)
(excluding fuel)
Simple design and regulatory optimization delivers efficient O&M
Variable O&M
Capital Improvements $6M $12M
Outage Cost $5M $10M
Fuel Cost $30M $60M Total Variable O&M $41M $82M
Total O&M
Total Annualized O&M $84.8M $148.4M
Cost per MWh $28.3 $24.8 Cost per MWh (excluding fuel) $18.3 $14.8
B&W mPower O&M Model
© 2012 Generation mPower LLC All Rights Reserved. 12
• Near-term (2020) regulatory response option
Addresses tightening environmental constraints (CSAPR, MACT)
Hedges against mid-term GHG “carbon tax” uncertainty
• Portfolio “balancing” opposite natural gas build-out
Environmentally clean, stable fuel cost, dispatchable generation
• Competitive “utility scale” power plant economics
$5000/kW ONC equivalent (or better) vs. GW-class options
Acceptable $82-97/MWh LCOE from low security and plant staffing
• Reasonable ($1.8B) investment and project risk
Incremental investment for incremental generation (360 MWe)
~70% factory and off-site construction supporting 3-year schedule
• Low-risk technology and infrastructure for ~2020 COD
NSSS 50% complete, DCA pre-application licensing underway
Existing North American reactor manufacturing capability
mPower Value Proposition