b&w mpower small modular reactor

© 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.

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B&W mPower Small Modular Reactor Creating the future of nuclear power

EFCOG Executive Council Semi-Annual Meeting December 5, 2012


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


“ 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”


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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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


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

http://www.generationmpower.com/


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


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


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


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)


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


• 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

b&w mpower small modular reactor

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