Labor says nuclear switch from coal would cost $387 billion
The Albanese Government says new modelling shows using nuclear energy to replace Australia’s ageing coal-fired power plants would cost $387 billion.
File photo: AAP/Darren England
Energy Minister Chris Bowen has seized on the analysis from his department to attack the opposition, which says nuclear energy should become an important part of Australia’s energy mix in the transition to net-zero emissions.
The analysis says the retiring coal fleet would need a minimum of 71 small modular reactors.
Bowen says switching to nuclear “flies in the face of economics and reason”, with the method of power generation being three times more expensive than firmed renewables.
“Rather than finally embracing a clean, cheap, safe and secure renewable future, all the coalition can promise is a multi-billion dollar, nuclear-flavoured energy policy,” he said.
The capital costs of small modular nuclear reactors would be $18,167 per kilowatt compared with $1058 for variable large-scale solar and $1989 for variable onshore wind.
The cost per megawatt-hour is set at $198-$349 for nuclear, $35-$58 for large-scale solar and $44-$75 for variable onshore wind.
-AAP
