Peter Dutton’s nuclear plan is just terrible public policy.

The truth is that, in an Australian context, with nuclear power more expensive per kilowatt hour than either grid scale solar & storage or coal, nuclear just doesn’t make economic sense.

The UK has a mature nuclear industry. Its new Hinkley Point C plant, started in 2016, is now expected to not be complete until 2031, and costs £35bn.

https://www.theguardian.com/business/2024/jan/23/hinkley-point-c-could-be-delayed-to-2031-and-cost-up-to-35bn-says-edf

So how much would it cost to replace all of Australia’s coal power plants with nuclear ones?

We’ll, at current exchange rates, £35bn — that’s the cost of just one Hinkley Point C sized reactors — works out to A$67.6 billion.

So building just 10 nuclear reactors the size of Hinkley Point C costs $A676bn, making the AUKUS subs look like Home Brand corn flakes in comparison.

(Just for comparison, ScoMo’s AUKUS subs cost $368bn, and Daniel Andrew’s Suburban Rail loop is estimated at around $100bn.)

That’s assuming Australia, starting from scratch, could build nuclear plants as quickly and cheaply as the UK, which was one of the first nations on Earth to split the atom.

So is it debt & deficit to fund this? Big new taxes? Even by the LNP’s own measuring sticks, it’s a crap policy!

The Australian Federal Government has previously examined the prospect of building nuclear power plants in the Switkowski report: https://webarchive.nla.gov.au/awa/20080117214749/http://pandora.nla.gov.au/pan/79623/20080117-2207/dpmc.gov.au/umpner/docs/nuclear_report.pdf

The big thing that’s changed since it was published is that grid solar + storage is now cheaper than coal or nuclear power.

So would you support holding up the closure of coal plants for 15 years until nuclear plants are completed, then paying substantially more on your power bills, while the federal government pays hundreds of billions of dollars in government subsidies, while also hiring thousands of additional public servants to regulate it all?

#auspol #nuclear #ClimateChange #australia @australianpolitics