Nuclear power is cost-competitive with other forms of electricity generation. Because fuel costs make up a small proportion of the total cost of nuclear power, and because the cost of the fuel is both low and stable, the price increases that Canadians are paying for electricity are due to other energy sources.
The economics of nuclear power involves consideration of capital costs, operating costs and external costs. While the up-front cost of building a nuclear power plant is high, the long-term operating costs and external costs are low. And because uranium represents a small part of the total cost of nuclear energy, it is not affected by price fluctuations seen in many other energy sources.