Probabilistic Economic Valuation of Safety Margin Management
The goal of this project was to explore a new methodology for evaluation of potential safety margin upgrades to add a new instrument to the Risk Informed Safety Margin Characterization (RISMC) toolkit. To this end, the RAVEN code developed by the Idaho National Laboratory was used to perform a cost-benefit analysis of several potential power plant safety upgrades to compare the material cost of the upgrades with the probabilistic benefit of avoiding accident scenario consequences to find the most cost-effective safety upgrades. By coupling RAVEN to MELCOR to drive Monte-Carlo method stochastic parameter analysis and using data from existing nuclear codes, as well as MELCOR’s radionuclide relocation tracking capabilities, the radionuclide release source term activity in a severe accident scenario can be estimated. Severe Accident Mitigation upgrades were benchmarked against the Hardened Containment Ventilation upgrade mandated by the USNRC for Mk1 BWRs using dollars spent per Curie of release prevented as a metric by which to evaluate the economic efficacy of the upgrades. Additionally, Fault Tree/Event Tree-based analyses were performed to compare older methods of evaluation to the methodology pioneered in this work, and Monthly Operating Report (MORP) outage data was analyzed for insights into power plant outage optimization and reduction.