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The plant efficiency of a nuclear fusion power plant is considered. Duringnominal operation, the plant efficiency is determined by the thermodynamicefficiency and the recirculated power fraction. However, on average the reactoroperates below the nominal power, even when the long shutdown periods for largemaintenance are left outside the averaging. Hence, next to the recirculatedpower fraction, the capacity factor must be factored in. An expression for theplant efficiency which incorporates both factors is given. It is shown that thecombination of high recirculated power fraction and a low capacity factorresults in poor plant efficiency. This is due to the fact that in a fusionreactor the recirculated power remains high if it runs at reduced output power.It is argued that, at least for a first generation of power plants, thiscombination is likely to occur. Worked out example calculations are given forthe models of the Power Plant Conceptual Study. Finally, the impact on thecompetitiveness of fusion on the energy market is discussed. This analysisstresses the importance of the development of plant designs with lowrecirculated power fraction.

Plant efficiency: a sensitivity analysis of the capacity factor for fusion power plants with high recirculated power