A standard method for calculating the total capital cost and the cost of electricity for a typical inertial confinement fusion electric power plant has been developed. A standard code of accounts at the two-digit level is given for the factors making up the total capital cost of the power plant. Equations are given for calculating the indirect capital costs, the project contingency, and the time-related costs. Expressions for calculating the fixed charge rate, which is necessary to determine the cost of electricity, are also described. Default parameters are given to define a reference case for comparative economic analyses.