The purpose of the fusion programme is to provide broadly competitive
electricity (with perhaps credit given for possible environmental, div
ersity and safety benefits). Fusion reactor design studies routinely p
redict electricity prices broadly comparable to conventional alternati
ves such as the PWR, despite the devices producing the electricity bei
ng typically similar to 10 times bigger, more complicated and requirin
g more maintenance. In this paper this issue is considered. These low
power densities, indicated both by reactor studies and confirmed by ge
neric engineering and geometric arguments, are shown to be a rather fu
ndamental feature of the D-T tokamak. Coupled with the complex constru
ction and expensive materials required, and the probable low availabil
ity its serial complexity and high maintenance needs will cause, it is
argued that D-T tokamak electricity prices will be a significant mult
iple of alternatives. This is the case even with all remaining physics
issues assumed resolved successfully. (C) 1997 Elsevier Science S.A.