Nuclear Power: A Hedge against Uncertain Gas and Carbon Prices?

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Risks, revenues and investment in electricity generation: Why policy needs to look beyond costs (2010, background): “Returns depend on revenues as well as cost, so the price of electricity becomes an important risk factor in the investment decision (Roques et al., 2006; White, 2006)).”
Carbon Tax or Carbon Permits: The Impact on Generators’ Risks (2008, unknown): “Roques et al. (2006b) show that a probabilistic analysis is needed to give the full picture of the expected return on an investment, and its distribution.”
Missing Money and Missing Markets: Reliability, Capacity Auctions and Interconnectors (2015, background): “…prices (see Newbery, 2013, fig 2), renewables and nuclear power, whose fuel costs are zero or very small, are exposed to the full volatility of electricity prices (Roques et al., 2006; 2008), which increases risk unnecessarily and hence raises the cost of capital, the major part of the total cost.”
Towards a green energy economy? The EU Energy Union's transition to a low-carbon zero subsidy electricity system – Lessons from the UK's Electricity Market Reform (2016, background): “Fossil generators enjoyed a natural hedge as the difference between the electricity sales price and the cost of fuel is reasonably stable, while that for non-fossil generation is very volatile, as shown in figure 1, as their variable costs are low and constant (Roques et al. 2006; 2008).”