Antinuclear

Nuclear policy was at odds with Lib philosophy: Paterson

Phillip Coorey, AFR, 3 June 25

Opposition finance spokesman James Paterson has put the Coalition’s nuclear power policy to the sword, saying lifting the moratorium on the energy source and leaving the rest to the private sector was more consistent with Liberal Party philosophy than building and owning generators.

The move, which cements last week’s deal to water down the policy as part of the new Coalition agreement, has killed off the prospect of nuclear power in Australia, at least in the medium term.

Clean Energy Investor Group CEO Richie Merzian said that because of time and cost, there was no appetite in the private sector to invest in nuclear power even if the moratorium was lifted.

But the Grattan Institute’s Tony Wood said nuclear power, especially small modular reactors, could be back in play within 20 years if the current policy of renewables firmed by gas and batteries doesn’t go as planned……….

The Coalition went to the last election promising to build and operate seven nuclear power plants – two small modular reactors and five large-scale plants – from 2035 onwards. The total system cost, which included the mix of nuclear, renewables and gas, was modelled at $334 billion.

Amid deep misgivings by Liberals about recommitting to the policy, last week, as part of a new Coalition agreement, Liberal leader Sussan Ley and Nationals leader David Littleproud agreed that any ongoing commitment to nuclear energy be confined to lifting the moratorium.

The plan to build seven nuclear power plants would be subject to a review of all policies to be undertaken in the wake of the Coalition’s heavy defeat on May 3, but Paterson said on Monday the old policy was unlikely to ever be revisited.

“The answer for the Liberal Party going forward on this is probably not to take what we did to the last election, which is a government-initiated and managed and run program where taxpayers would finance and build them,” he said.

“But instead go for a more traditional Liberal approach, a more market-based approach, which is repeal the prohibition on nuclear power, and then leave it up to the energy industry to decide if they want to invest in nuclear.

………………………………. With Labor opposed to nuclear, that means the renewables rollout would continue unabated for another six years, making the economic case for nuclear less compelling.

“None of the investors in the CEIG, which is 50 per cent of new energy generation, are interested in nuclear in Australia, full stop,” Merzian said.

“That includes major investors who own nuclear assets overseas.”

The objection was not philosophical, but based on time and cost, he said.

“It’s too late to go down that route, it’s just a non-starter.”………………………….. https://www.afr.com/politics/federal/nuclear-policy-was-at-odds-with-lib-philosophy-paterson-20250602-p5m42i

June 3, 2025 - Posted by Christina Macpherson | Uncategorized