The Application of Risk-Based Cost-Benefit Analysis in the Assessment of Acceptable Public Safety for Nuclear Power Plants

Abstract

In 1982, the U.S. Nuclear Regulatory Commission issued, for public comment, proposed safety goals for commercial nuclear power plants. In an effort to quantitatively evaluate these proposed goals, a methodology was developed for the Electric Power Research Institute’s (EPRI) Nuclear Safety Analysis Center to assess the impacts of implementation of these goals and to identify inherent sensitivities in their interpretation. Utilizing existing risk assessment data for an operating nuclear plant, potential design and procedural modifications to improve plant safety were identified and evaluated for cost-effectiveness. Although the proposed safety goals which were used as the basis for this study have since been revised, the methodology developed is believed to be useful for providing an assessment of the impacts of regulatory compliance and may also be useful in determining the cost-effectiveness of any proposed plant modification. This methodology, however, requires that risk assessment data (e.g., modularized fault trees) be available for use.