Nuclear power’s financial problems exposed in new report
Greenpeace European Unit, 19/06/2024, https://www.greenpeace.org/eu-unit/issues/climate-energy/47124/nuclear-powers-financial-problems-exposed-in-new-report/
Brussels, 19 June 2024 – Nuclear power is a risky gamble with taxpayers’ cash, according to a comprehensive review of financing models published as the European Investment Bank prepares to discuss new support for nuclear energy at a meeting on 21 June.
The report, Fission for Funds: The Financing of Nuclear Power Plants, gives an overview of financing models and reveals how the profitability of nuclear power plants heavily relies on government involvement in de-risking investments. The report was commissioned by Greenpeace Germany and carried out by Jens Weibezahn from the Copenhagen School of Energy Infrastructure, and Björn Steigerwald from the Technische Universität Berlin.
Greenpeace EU political campaigner Lorelei Limousin said: “Nuclear power is a black hole for taxpayers and consumers. High upfront costs, long construction times, and government bailouts make nuclear projects a burden on public coffers and a threat to credible climate action. Wind and solar energy are already much cheaper, and their cost is declining. Not a single euro of EU public money should go to nuclear power – it’s time to put people’s needs ahead of nuclear greed, and invest in a safer, cheaper future.”
The report shows that nuclear power plant projects are unreliable due to budget overruns, construction delays, and reliability problems in the operational phase, and therefore often lose investor interest. Hidden costs are also often not included in initial calculations, such as liability insurance, decommissioning and waste management. These become a burden for taxpayers in the future. The report highlights that the cost of solar and wind energy are already much lower than new nuclear projects.
Jens Weibezahn, Assistant professor Ph.D., Copenhagen Business School, co-author of the report, said: “In our review of current nuclear power plant projects, we found that almost all financing models rely – either directly or indirectly – on government support to make them viable. This places an unreasonable burden on either taxpayers or electricity ratepayers, as they, ultimately, bear a large part of the associated financial risks.”
Although most global economies are focusing on renewables to reach net-zero targets, some EU countries, such as France, the Netherlands, Poland, Sweden, Slovakia, Slovenia and the Czech Republic, are betting on nuclear power, despite major issues in securing funding for new projects and maintaining their existing ageing fleets. This report highlights that government support for these costly, long-term, and high-risk nuclear projects is becoming harder to justify, particularly at a time of high inflation and rising cost of living.
In the past two decades, the European Investment Bank (EIB) has invested €845 million in nuclear power activities. For the first time, the EIB intends to support research and development in so-called small modular reactors (SMRs), according to a draft strategic roadmap, which will be adopted on 21 June. Many uncertainties persist regarding the overall economic viability of SMRs, not to mention safety risks and the radioactive waste problem. Greenpeace calls on EU finance ministers, who govern the EIB, to oppose any funding for nuclear energy, including small modular reactors.
Please find more information about the various financing models used in European countries in this briefing and read more in the full report.
Dutton’s nuclear lights are out and no one’s home
But none of this matters to Dutton. The reason he is pushing for nuclear is plain: since any nuclear energy plan is unattainable for at least 20 years, it ensures his coal and gas mining mates can continue destroying our natural environment for a long, long time to come.
By Michelle Pini Independent Australia, 20 June 2024
Dutton’s alternative facts on nuclear energy demonstrate that the Coalition is no longer fit for purpose as a credible opposition, let alone a serious government contender. Michelle Pini reports.
APART from frequently changing leaders, nothing has changed about the Liberal-National Party Opposition for a very long time, certainly not since the Abbott/Turnbull/Morrison retrograde regime.
Put simply, since the whole point of an opposition party in a two-party system is to provide credible alternative policies – not to recycle the ideas and innovations of a bygone era – today’s Coalition is simply no longer fit for purpose.
This is perhaps best illustrated by Dutton’s most recent set of alternative facts masquerading as policies, the recycled 1950s nuclear power plan.
Sure, the Liberals/Nationals are the parties of the status quo but the fact is, they have taken this concept well past its natural use-by date. Basically, if this was the age of the telephone invention, Opposition Leader Peter Dutton and his band of unmerry naysayers would be advocating to keep tin cans and string because phones would put can and string manufacturers out of business — not to mention the plight of carrier pigeon trainers.
Wait, that is actually the same reasoning that led to over a decade of third-world-standard NBN, but we digress.
Carrier pigeons and tin cans notwithstanding, today, the Coalition want us to get behind a leader who, if elected, would catapult us back to an age before science, before technology and before we worked out the Earth wasn’t flat — in every facet of our lives.
A word is needed about the role of the entire mainstream media, here, including the national broadcaster – yet again – in providing a framework where Dutton’s idiotic ramblings are given prominence — nay, are exalted as if they came from the Heavens.
There are so many subtle ways in which his party’s every brain fart is reported in the media as a credible idea and Alan Austin’s latest analysis provides a more detailed explanation of how the ABC’s news coverage, in particular, subtly facilitates this Liberal Party agenda. (You can read more here.)
So, to summarise the Dutton Coalition “policy platform”, it goes something like this:
Finding it hard to keep up with the changing world? Need a scapegoat for your woes?
Then, has Dutton got an idiotic plan, a minority group and a few gaslights, courtesy of the establishment media, for you?!
It is the exploitation of these core fears – the primal fears of change and of “others” – that form the basis of Dutton’s Coalition “policy structure”. It is the reason he does not provide any substantial “detail” in support of his claims. And it provides ongoing ammunition for the climate and culture wars he favours. It’s really no more complicated than that.
Let’s take a close look at Dutton’s banal nuclear “power plan”, which has been presented as a legitimate argument in the legacy media.
A NUCLEAR NIGHTMARE
Dutton – or at least the Coalition’s expert advisers, assuming they still have any – is abundantly aware of the following:
- nuclear energy is not safe by any stretch of the imagination;
- it is not clean;
- it is prohibitively expensive; and
- a nuclear energy industry is unachievable, certainly in the foreseeable future.
But none of this matters to Dutton. The reason he is pushing for nuclear is plain: since any nuclear energy plan is unattainable for at least 20 years, it ensures his coal and gas mining mates can continue destroying our natural environment for a long, long time to come.
With the main game already established, it is only necessary to deflect and obfuscate, providing no “details”, such as properly calculated costs or a realistic timeline. Even his claim that the first seven reactors would be built in Victoria, New South Wales and Queensland was debunked by the state premiers, who have unanimously rejected the idea. According to one ABC report, even some state Liberal and National MPs have ‘distanced themselves from nuclear’.
It’s fine, though, according to Dutton, who may eventually give us the details after his party is elected.
NO RENEWABLES FOR US!
Because the efficiency of renewable energies poses a real and imminent threat to fossil fuels, Dutton also plans to ensure any further great strides in this sector will die a quick and unceremonious death by imposing a cap on renewable energy investment.
And because Dutton’s plan is only about fear, he harnesses the fear of running out of power, or of exorbitant energy prices with idiotic statements like, “We can’t allow the lights to go out.”………………………………………………….. https://independentaustralia.net/politics/politics-display/duttons-nuclear-lights-are-out-and-no-ones-home,18701
Dutton’s nuclear thought bubble floats in a fantasy world of cheap infrastructure
What is the Coalition’s track record when it comes to building big infrastructure projects? Truly shocking.
BERNARD KEANE, JUN 20, 2024
The response to Peter Dutton’s back-of-the-envelope announcement yesterday on seven proposed nuclear power sites — they hadn’t even googled to find out that the owner of the Port Augusta site has other plans for it — is occurring in a weird haze of amnesia about what’s going on with major infrastructure projects in Australia.
Dutton’s nuclear thought bubble floats in a fantasy world of cheap infrastructure
What is the Coalition’s track record when it comes to building big infrastructure projects? Truly shocking.
BERNARD KEANE, JUN 20, 2024
The response to Peter Dutton’s back-of-the-envelope announcement yesterday on seven proposed nuclear power sites — they hadn’t even googled to find out that the owner of the Port Augusta site has other plans for it — is occurring in a weird haze of amnesia about what’s going on with major infrastructure projects in Australia.
On the one hand, the corporate media gleefully reports news of major cost blowouts for big projects. On the other hand, being taken for granted is the Coalition’s ability to achieve an unprecedented project of a fleet of nuclear power stations, including two by 2035-37, without a truly shocking cost.Journalists who fail to interrogate Dutton’s nuclear dream should resignRead More
What’s the federal Coalition’s form on building major projects? Let’s take three from its last period in government……………………….. (Subscribers only) https://www.crikey.com.au/2024/06/20/peter-dutton-nuclear-proposal-cheap-infrastructure-fantasy/?utm_medium=Social&utm_source=Twitter#Echobox=1718846754-1
Nuclear proposal rejected by premiers, who say Dutton has no power to lift state nuclear bans
In Queensland, where the Coalition has proposed establishing two nuclear power stations, the state Liberal-National Party has voiced its opposition to nuclear, leaving the opposition without allies at a state level.
ABC News, By political reporter Jake Evans and staff, 19 June 24
- In short: State premiers have unanimously rejected the federal Coalition’s nuclear proposal, which would require lifting several state bans
- Some state Liberal and National members have also distanced themselves from nuclear, though the NSW opposition is open to the idea
- What’s next? The Coalition has been pushed to detail costings of its proposal for seven nuclear sites, and to provide more detail
Among the many hurdles for the Coalition to leap before it can break ground on a single nuclear site will be the state’s premiers, who have lined up against a proposal to establish nuclear power plants at seven locations across the country.
The Coalition has announced its proposal for Australia to go nuclear, eschewing the ramp up of more solar and wind power, to instead build either traditional nuclear plants or small modular reactors on retiring coal sites in Queensland, NSW, Victoria, South Australia and in Western Australia.
To do so, a future Coalition government would first have to convince federal parliament to lift a prohibition on nuclear power, establish viable sites, find a solution for nuclear waste, convince local communities and train workers before a first plant could be built by late next decade.
And state premiers have emerged as another barrier to entry, with Labor premiers in the states proposed to go nuclear unequivocal in their opposition to the plan — but also some Liberal and National MPs in those states saying they won’t be buying in.
NSW Premier Chris Minns and Victorian Premier Jacinta Allan said even if Liberal leader Peter Dutton managed to lift the federal nuclear ban, he would also have to overcome bans at a state level.
“We’ve got our ban in place … if there’s a constitutional way for a hypothetical Dutton government to move through the state planning powers, I’m not aware of it, but that’s probably a question for him to answer,” Mr Minns said.
Ms Allan said building a plant in Gippsland would also require repealing state legislation in Victoria.
“They want to bring more expensive, more risky, more toxic energy solutions to the people of this country. We won’t stand for that,” Ms Allan said.
The Victorian premier has since written to Mr Dutton to confirm her government “won’t be negotiating” and would do all in its power to stop a nuclear plant in the Latrobe Valley.
In Queensland, where the Coalition has proposed establishing two nuclear power stations, the state Liberal-National Party has voiced its opposition to nuclear, leaving the opposition without allies at a state level.
Queensland Opposition Leader David Crisafulli said his party had been “clear” nuclear was not part of their plan.
“That’s a matter for Canberra. We’ve been consistent the whole way through,” Mr Crisafulli said…………………. https://www.abc.net.au/news/2024-06-19/premiers-reject-nuclear-proposal-nuclear-bans/103997020
Wrong reaction: Coalition’s nuclear dream offers no clarity on technology, cost, timing, or wastes
https://www.acf.org.au/coalition-nuclear-dream-offers-no-clarity-on-technology-cost-timing-or-waste 19 June 24
In response to Opposition leader Peter Dutton’s announcement of his proposed nuclear reactor sites, the Australian Conservation Foundation’s nuclear analyst Dave Sweeney said:
“The Opposition leader has named seven places where he wants nuclear reactors to be built, but he hasn’t been clear about the technology he wants to use, the cost to taxpayers, the timing, or what would happen to the radioactive waste that stays toxic for thousands of years.
“Mr Dutton wants Australians to believe there will be nuclear reactors operating in a decade should he win the next election. Tell him he’s dreaming.
“There is no bipartisan support and there are deep community, legal and political obstacles facing the Coalition in every Australian jurisdiction.
“It’s clear the Opposition leader hasn’t given up on his dream of small modular reactors. Mr Dutton was vague about whether he is promoting big reactors or small reactors, which are not in commercial deployment anywhere in the world.
“Going nuclear would delay the transition away from coal and gas, increase household electricity bills, introduce the possibility of catastrophic accidents and create multi-generational risks associated with the management of high-level radioactive waste – almost certainly with a disproportionate burden on First Nations communities.
“Extensive modelling, including from CSIRO, shows nuclear is far-and-away the most expensive energy option. Taxpayers and households would bear the cost.
“Nuclear is a dangerous distraction to effective climate action. Australia is blessed with plentiful clean energy resources. Our energy future is renewable, not radioactive.”
A detailed new critique of nuclear energy, released today by ACF, shows:
- Australian taxpayers would foot a massive bill for what is the slowest, most expensive form of power generation.
- Australia’s leading insurance companies will not cover damage from a nuclear disaster.
Read more:
Power games: Assessing coal to nuclear proposals in Australia (30-page report)
Why nuclear power will never be right for Australia (10-page summary)
Coalition’s climate and energy policy in disarray as opposition splits over nuclear and renewables
Simon Birmingham contradicts Nationals’ leader, saying renewables are ‘an important part of the mix’ while Queensland LNP leader rules out nuclear.
Paul Karp and Andrew Messenger, Tue 18 Jun 2024
The federal Coalition’s climate and energy policy is in disarray, with a senior Liberal contradicting the Nationals’ anti-renewables push and the Queensland LNP leader ruling out allowing nuclear energy in that state.
After the Nationals further undermined the push for net zero by 2050 by claiming the Coalition would “cap” investment in large-scale renewable energy, the Liberal leader in the Senate, Simon Birmingham, declared on Tuesday it is an “important part of the mix”.
On Monday the Nationals leader, David Littleproud, said Australia did not need “large-scale industrial windfarms” such as those proposed for an offshore zone south of Sydney. That position was backed by Nationals senator, Matt Canavan, a longstanding opponent of net zero who nevertheless revealed the position had not been to their party room
On Tuesday Birmingham contradicted the junior Coalition partner’s stance. The leading member of the Liberals’ moderate faction told Sky News that there is “absolutely a place for large-scale renewables, as part of a technology-neutral approach” and they are an “important part of the mix”.
Birmingham said that renewables and other sources of power should be judged on reliability – “which is why nuclear is important” – price, including the cost of transmission, and the “social licence” aspects about whether local communities support them.
“There will be difficult discussions on that journey [to net zero by 2050]. We’ve been having them in relation to nuclear energy. The Albanese government has stuck its head in the sand.”…….
As the federal Coalition attempts to ramp up pressure on Labor for refusing to lift the ban on nuclear energy, it also faces opposition at the state level from its own side of politics, as Guardian Australia revealed in March.
In Queensland the Nuclear Facilities Prohibition Act 2007 bans “the construction and operation of particular nuclear reactors and other facilities in the nuclear fuel cycle”.
On Tuesday, the Queensland Liberal National party leader, David Crisafulli, was asked whether he would consider repealing the legislation if his federal colleagues proposed a nuclear plan that stacked up.
“The answer is no, and I’ve made my view very clear on that … contrary to some of the most childish memes that I’ve seen getting around social media from the Labor party,” he said.
Crisafulli said nuclear is a “matter for Canberra” and it is “not on our plan, not on our agenda”. “The things that we are offering are real and they are tangible, I understand there is that debate in Canberra, fair enough, but I can’t be distracted by it”…………..
CSIRO’s Gencost report found that electricity from large-scale nuclear reactors would cost between $141 a megawatt hour and $233 a MW/h compared with combining solar and wind at a cost of between $73 and $128 a MW/h – figures that include building transmission lines and energy storage.
The Albanese government on Saturday gave the green light to a 1,022 sq km area, 20km off the Illawarra coast, in the first stage of a process for it to become the country’s fourth dedicated windfarm zone.
Littleproud declared the Coalition was opposed to it and promised to “send the investment signals that there is a cap on where [the Coalition] will go with renewables and where we will put them”.
The energy and climate change minister, Chris Bowen, seized on the remarks which he said showed “while the world races to cleaner cheaper reliable renewables, the Nationals wants to stop new investment”.
“Peter Dutton would be worse on climate than Abbott or Morrison and David Littleproud would be worse than Barnaby Joyce,” he posted on X…………………………………………………………..
Scrutiny of the Coalition’s climate policy is increasing after Dutton announced a plan to oppose the 43% emissions reduction target by 2030, in contradiction of the Paris agreement.
On Tuesday Forrest warned that the proposal would hit Australian exports with penalty carbon taxes, and also cautioned against new limits on large-scale renewables.
“If we flip-flop between policies, if we go back to the past of uncertainty then it of course makes employing people and investing very difficult to impossible,” he told Radio National. “So that would be Australia kicking an own goal.”
With Graham Readfern https://www.theguardian.com/australia-news/article/2024/jun/18/coalition-climate-energy-policy-opposition-split-nuclear-renewables
Nuclear plan is fiscal irresponsibility on an epic scale and rank political opportunism
The LNP wants to burn untold tens of billions of public money in a nuclear debt bin fire because nuclear is 100% uncommercial – no private investor will touch it with a ten foot pole short of massive multi-decade subsidies.
The LNP wants to burn untold tens of billions of public money in a nuclear debt bin fire because nuclear is 100% uncommercial – no private investor will touch it with a ten foot pole short of massive multi-decade subsidies.
Tim Buckley & AM Jonson, ReNeweconomy, Jun 19, 2024
While the Coalition has failed to release any detail or costings, today we have confirmation that if it gets into office, Australians will be paying a mult-billion dollar “nukebuilder” tax for generations to come for a national build out of government-owned nuclear reactors across seven locations, including on the sites of former coal-fired power stations.
It beggars belief that opposition leader Peter Dutton proposes nationalising a nuclear public debt bomb and detonating it at the heart of energy policy in this country.
This exacerbates the problem that electricity generated from nuclear is two to four times as expensive as power from firmed renewables – as the CSIRO has confirmed – and would permanently lock in higher energy prices for consumers already crushed by cost of living pressures.
The medium term energy price implications are horrendous. Electricity prices would skyrocket as private investment in new replacement capacity is crowded out, resulting in undersupply for the next 15-25 years while we wait for the LNP’s nuclear white elephants to arrive.
We know that firmed renewables – utility scale solar and wind, backed by big batteries, and orchestrated with accelerated deployments of distributed consumer energy resources such as rooftop solar, storage and EVs in a modernised grid – can and will keep the lights on, delivering consistent, secure, reliable and affordable supply at a fraction of the cost. This transition is already underway and accelerating.
Critically, the Coalition’s announcement puts at serious and imminent risk planned private capital investments in clean energy as policy uncertainty and chaos make proposals uninvestable – especially in light of public statements by Nationals Leader David Littleproud that the LNP would, bizarrely, “cap” renewables investment here.
The thought bubble released this week threatens to undermine our energy and economic security and our future prosperity as it creates sovereign risk.
By destroying investor confidence, it deters the private clean energy capital we need to attract at speed and scale – capital for which we are competing with the rest of the world.
The LNP wants to burn untold tens of billions of public money in a nuclear debt bin fire because nuclear is 100% uncommercial – no private investor will touch it with a ten foot pole short of massive multi-decade subsidies.
As the Investor Group on Climate Change, representing energy investors with $35tn in assets, said, there is “no interest” among investors in nuclear, when nuclear has time blowouts up 15+ years and cost blowouts in the tens of billions, and lowest-cost technologies – renewables, batteries and so on – are available to deploy now.
Further, to model our energy transition on the great government-owned public infrastructure debacles of the last quarter century – Snowy 2.0 and the NBN – is an egregious blunder with dire consequences now and for future generations.
The LNP’s Snowy 2.0 was due to be operational in 2021 at a cost of $2bn. After a rolling series of crises, it’s now expected to come online around 2028 and is likely to cost Australians $15bn, a budget blowout of 700%. And we have been lumped with one of the world’s worst, slowest (64th fastest in the world) and most expensive NBNs after a litany of LNP mismanagement.
The idea that nuclear could be up and running in 2035-37 is fanciful. Community opposition, inevitable protracted state and federal legal challenges, technological hurdles and the requirement that nationwide legislative bans on nuclear be overturned make a 2035 timeline impossible.
There is zero mention of how Australia plans to deal with nuclear waste for many centuries to come, or provide for the $10bn per nuclear plant end of life closure costs, another two LNP debt burdens dumped on future generations. The people of Japan are funding the US$200bn cleanup of the Fukushima disaster for the next century.
The international experience shows that the western nuclear industry is plagued with massive delays and cost blowouts. There is zero reason to expect Australia would be any different when the risks for us are higher, as we have no history of deployment of nuclear energy generation here.
The Vogtle nuclear power plant expansion debacle in Georgia, US, is a case point, massively delayed and the most expensive public works project in US history at $35bn, with consumers left to carry the can for the runaway costs.
And the £33bn Hinkley Point C nuclear plant in England – with completion now delayed to 2031 – is a millstone around UK citizens’ necks for the next 60 years or so, even as owner EDF of France took a €12bn writedown on this white elephant after China General Nuclear (CGN) walked away.
Dutton now centres Australian energy and climate policy on nuclear against the explicit and unequivocal advice of our flagship national scientific agency, the CSIRO, which warned that nuclear would take until at least 2040 to stand up in Australia, if legislative bans and other barriers could be overcome, and the energy generated would cost at least twice that of firmed renewables. …………………………………………………………………………… more https://reneweconomy.com.au/nuclear-plan-is-fiscal-irresponsibility-on-an-epic-scale-and-rank-political-opportunism/
Lockheed Martin, Australian Government: joined at the hip
There is a remarkable “revolving door” of top people between Australian government and Defence Department roles and the world’s no 1 weapons-maker
MICHELLE FAHY, JUN 19, 2024
Global weapons giant Lockheed Martin – which has deleted from its website details about Australia’s key role in building F-35 fighter jets – has long had deep ties to the Australian government, investigations show.
Analysis shows a remarkable “revolving door” of people between top government and Defence Department roles and the world’s largest weapons-maker, whose F-35 fighter jets Israel is using to bomb Gaza.
The revolving door between government and corporations is well documented as a factor helping to undermine democracy.
In 2022, Lockheed Martin’s total global revenue was US$66 billion, with 90 per cent of it (US$59.4 billion) from the sale of arms.
Some of Australia’s most senior government officials, military officers, and Defence Department staff have been appointed to Lockheed Martin Australia’s board or have served as its chief executive or in other positions in recent years.
Constantly revolving door
Lockheed’s current CEO for Australia and New Zealand, retired Air Marshal Warren McDonald, officially joined the weapons maker’s ANZ leadership team as chief executive elect on July 1, 2021 having exited his 41-year career in the Royal Australian Air Force (RAAF) just seven months earlier. McDonald formally commenced as Lockheed’s local CEO in November 2021.
McDonald was deputy chief of the RAAF until mid-2017 when he was promoted into a new role as the Defence Force’s inaugural Chief of Joint Capabilities, a group comprising space, cyber and the defence networks tasked with preparing space and cyber power, and logistics capabilities, to serve the modern integrated defence force.
When later asked what had interested him about joining Lockheed Martin, McDonald said: “From all domains – space to the sea floor – Lockheed Martin has in its hands the combat capability of the Defence Force”…………………………………………………………………………more https://undueinfluence.substack.com/p/lockheed-martin-australian-government?utm_source=post-email-title&publication_id=297295&post_id=145632377&utm_campaign=email-post-title&isFreemail=true&r=ln98x&triedRedirect=true&utm_medium=email
Peter Dutton reveals seven sites for proposed nuclear power plants
By political reporter Tom Crowley and national regional affairs reporter Jane Norman, 19 June 24 https://www.abc.net.au/news/2024-06-19/dutton-reveals-seven-sites-for-proposed-nuclear-power-plants/103995310—
Peter Dutton has told his Coalition colleagues he will go to the next election promising to build seven nuclear power stations.
Mr Dutton will promise the first two sites can be operational between 2035 and 2037, several years earlier than the timeframe the CSIRO and other experts believe is feasible.
As had been previously flagged, the stations are all on retiring or retired coal sites.
The seven sites are:
- Tarong in Queensland, north-west of Brisbane
- Callide in Queensland, near Gladstone
- Liddel in NSW, in the Hunter Valley
- Mount Piper in NSW, near Lithgow
- Port Augusta in SA
- Loy Yang in Victoria, in the Latrobe Valley
- Muja in WA, near Collie
Five of the seven are in Coalition seats: Muja in Rick Wilson’s seat of O’Connor, Loy Yang in Darren Chester’s seat of Gippsland, Port Augusta in Rowan Ramsey’s seat of Grey, Callide in Colin Boyce’s seat of Flynn and Tarong in Nationals leader David Littleproud’s seat of Maranoa.
Mount Piper is in the seat of Calare, held by independent Andrew Gee who was elected as a Nationals MP in 2022 but quit the party.
Liddel is in only site in a Labor seat, the seat of Hunter, held by Labor’s Dan Repacholi.
Further details are expected later this morning, including about how much government funding would be required and whether the proposal is for large-scale nuclear reactors, small modular nuclear reactors, or a combination.
The Coalition had been promising a nuclear policy, including specific sites, for several months amid expert concerns over the cost and timeframe.
Last week, Mr Dutton also revealed the Coalition would campaign against the Labor government’s legislated target to reduce emissions by 43 per cent by 2030, and would not outline a 2030 emissions reduction target of its own before the election.
Coalition energy spokesperson Ted O’Brien and Nationals leader Mr Littleproud will address an energy conference held by The Australian today.
This morning, Treasurer Jim Chalmers will tell that conference the Coalition’s nuclear plan is “the dumbest policy ever put forward by a major party” and will seek to contrast the Coalition’s plan, likely to require significant public funding, with Labor’s plan to encourage private investment in renewables and gas.
Coalition set to announce long-awaited nuclear details
Jacob Shteyman June 19, 2024, https://www.aap.com.au/news/coalition-set-to-announce-long-awaited-nuclear-details/
Opposition Leader Peter Dutton is poised to announce his nuclear energy policy, including multiple proposed sites for power plants.
The Liberal leader plans to reveal the location of up to three sites for nuclear energy plants should the coalition win the next federal election, according to media reports.
Mr Dutton is set to hold a press conference on Wednesday alongside Nationals leader David Littleproud and deputy Liberal leader Sussan Ley.
His party’s MPs are expected to be briefed on the plans that morning.
Mr Dutton has said he will oppose Australia’s legally binding 2030 climate target, a 43 per cent emissions reduction on 2005 levels, if he is elected.
The coalition remains committed to reaching net-zero emissions by 2050, senior party members have said.
A report by the CSIRO found nuclear power plants wouldn’t be built at the earliest until 2040.
The latest report on the technology’s feasibility has found nuclear power is a “dangerous distraction” to Australia’s renewable energy transition because it would take too long and cost too much to build.
Even if nuclear restrictions were lifted tomorrow, it would still be at least 20 years before a reactor could be operational, the paper released by the Australian Conservation Foundation says.
By that time, all or nearly all Australia’s remaining coal-fired power plants will be closed, meaning carbon emissions-intensive fossil fuels will likely have to be prolonged.
Even ignoring the lead time required to establish a nuclear industry, it would be unable to compete financially with renewables and require taxpayer subsidies worth tens or hundreds of billions of dollars.
Another hurdle is convincing Australians nuclear poses no safety risk.
Major insurers, including AAMI, Allianz and NRMA, specifically exclude coverage to homes, cars or possessions from nuclear accidents.
“Proposals to introduce nuclear power to Australia make no sense,” concludes the report, which was led by anti-nuclear campaigner Jim Green and released on Wednesday.
The paper was written in response to a federal coalition plan to replace coal-fired power stations with nuclear, rather than relying on increased investment in renewable energy and storage to reach net zero.
Mr Dutton argues baseload nuclear is necessary to achieve the energy transition without sacrificing affordability or reliability.
“I want to make sure that we’ve got renewables in the system,” he told reporters on Tuesday.
“I’m happy for batteries, but we can’t pretend that batteries can provide the storage.
“We need to make sure that as we decarbonise and as the economy transitions, that we do it in a sensible way.”
The latest edition of the benchmark GenCost report, released by the CSIRO and Australian Energy Market Operator in May, found the cost of building a large-scale nuclear power plant would be at least $8.5 billion.
‘Nuclear energy won’t stop cows from burping’: Peter Dutton needs a plan that goes beyond the electricity sector
By the way, I am amazed to read this quite conservative energy expert ACTUALLY TOUCHING UPON ENERGY EFFICIENCY! – “We should be making cuts to electricity now“
Everyone keeps bleating about renewables – but it is so rare for any “expert” to suggest reducing energy use, by energy efficiency – even though that would be the fastest and best way to combat climate change
Tony Wood, Program Director, Energy, Grattan Institute, The ConversationJune 17, 2024 ,
Opposition leader Peter Dutton’s talk of stepping back from Australia’s 2030 emissions targets has created confusion and concern on several fronts, and sparked vigorous political debate over our pathway to a carbon-free future.
Over the weekend, Dutton claimed Labor’s renewable energy commitment was behind steep electricity price hikes in recent years. His comments prompted a rebuke from Foreign Minister Penny Wong, who described the claims as “mind bogglingly absurd”. Meanwhile, Dutton’s suggestion of an energy policy shakeup, should the Coalition win government, has caused consternation in the business community.
Amid all this, several points need clarifying. For a start, Dutton’s claim that renewables are responsible for electricity price hikes is just plain wrong.
But more broadly, the debate misses a crucial point: the electricity sector is not the only contributor to Australia’s greenhouse gas problem. If Australia is to achieve net-zero emissions by 2050, the Coalition needs to stump up with a plan to decarbonise the entire economy.
…………………..First, let’s clarify that Labor’s policy has, in fact, taken gas and nuclear into account. It has rejected nuclear energy as a viable option, and says gas has an important role in the transition to renewable energy.
Labor does have a target for 82% renewables in our electricity mix by 2030. And it is true that electricity prices have markedly increased in recent years. But the two are not significantly related……………………………………………………………
Investors are nervous
Australia’s business community, including the coal and gas sector, has urged the Coalition not to scrap Australia’s 2030 emissions targets, fearing it would unleash a wave of investment uncertainty.
While the 2030 target is significant, more important to investors are the policies underpinning the target. Australian businesses are investing on the basis of several key Labor policies:
- the Capacity Investment Scheme, in which the government will underwrite the risk of investing in new renewable energy generation and storage
- the Safeguard Mechanism, involving rules to reduce greenhouse gas emissions from Australia’s polluting industrial sector
- Rewiring the Nation, to build the transmission network needed to deliver clean energy
- vehicle efficiency standards, which sets targets for CO₂ exhaust emissions for new light vehicles.
Industry needs policy certainty. Dutton has spent a lot of time talking about 2030 targets and nuclear energy. But the really important issue for investment is: what does he plan to do about the four policies above?
Electricity isn’t the only game in town
Dutton says he remains committed to the target of net-zero emisisons by 2050, which Australia signed up to under the Paris treaty. The Coalition intends to release its full climate policy before the next election; let’s hope it involves more than just a nuclear energy plan.
You can’t drive trucks on nuclear. Nuclear energy won’t stop cows burping and farting. You can’t run an ammonia plant on nuclear energy. Emissions from those sectors – transport, agriculture and heavy industry – have to be dealt with too. On these, the Coalition has been largely silent to date.
Time is of the essence here. The electricity sector represents the “low hanging fruit” of Australia’s decarbonisation effort – in other words, the transition to renewables is relatively easy and cheap. Stripping emissions from other sectors will cost more and take longer……………………………………………………………………………………………..
the 2030 target is so important. We should be making cuts to electricity now, while developing the technologies to reduce emissions in other sectors. We can’t leave all the heavy lifting until after 2030.
The road ahead
If the Coalition won power at the next election, and managed to meet the net-zero goal by 2050, there are consequences for kicking the can down the road.
Doing less on emissions reduction now means greenhouse gases accumulate in the atmosphere. That makes climate change worse now. Slowing down emissions reduction will affect all Australians – leading to more severe floods and fires, and more uninsurable properties……………………….. more https://theconversation.com/nuclear-energy-wont-stop-cows-from-burping-peter-dutton-needs-a-plan-that-goes-beyond-the-electricity-sector-232588
Dutton’s nuclear power plan – the grandkids can pay for it!
The Age’s cartoonist Cathy Wilcox sums it up!
Coalition will announce as soon as Wednesday its nuclear power plans
AFR report … with no further detail:
The Coalition will announce as soon as Wednesday its nuclear power
plans, following the calling of a snap shadow cabinet meeting for
Tuesday night and a party room teleconference for 8.30am Wednesday.
Nuclear misinformation in Australia is Hail Mary policy by the Opposition
The Fifth Estate, DARRIN DURANT, Dr Darrin Durant is Senior Lecturer in Science and Technology Studies at the University of Melbourne.17 JUNE 2024
Having promised a nuclear power policy for several years, the Australian Liberal-National Party finally announced one: no reactors before 2040 and approving new gas and coal projects instead. At the same time, it is abandoning the emissions reduction target for 2030 (a 43 per cent cut compared with 2005 levels) and refusing to commit to details about nuclear projects until after the May 2025 election.
This is a Nuclear Hail Mary Policy: reduce emissions aspirations and hope a final play two decades from now will work out.
Most commentary has focused on what this nuclear Hail Mary implies for Australia’s commitment to the Paris Agreement. Some suggest the LNP plans to “rip up” the agreement. Others that the LNP plans to “breach the text and spirit” of the agreement.
Closest to the mark, I suggest, is that LNP is internally fractured and confused about both what its nuclear and emissions policy should be and how it should conduct itself regarding international agreements.
Opposition Leader Peter Dutton’s climate backtracking on Saturday, 8 May 2024, pushed from the news cycle a clear marker of the LNP’s policy vacuum on nuclear power, climate emissions and international. On 7 June, the LNP engaged in disinformation about regional cooperation on decarbonization.
The occasion for the LNP’s disinformation campaign was the signing by the Albanese Labor government of the Indo-Pacific Economic Framework (IPEF) Clean Economy Agreement. The IPEF was signed by Australia and 13 other nations on 6 June 2024.
Ted O’Brien MP (Shadow Minister for Climate Change and Energy in the LNP) claimed the ALP signing of the IPEF “exposes rank hypocrisy”, demonstrates a “lack of integrity”, and amounts to “treating Australians like mugs”.
None of the claims by O’Brien and the LNP are true. It is the LNP nuclear disinformation campaign that displays hypocrisy and duplicity and treats Australians like mugs.
The IPEF Clean Economy Agreement
The IPEF agreement aims to build regional economic cooperation across four pillars: trade, supply chains, clean energy, and tax. Australia joined IPEF on 23 May 2022, after the 21 May 2022 election in which Labor swept the LNP from power. Since then, eight rounds of negotiations between the member nations have taken place…………………………………………………………………………………………………..
Australian nuclear misinformation goes walkabout
Thus far, Coalition claims about nuclear prospects have been domestic doomsday claims about Australia’s fate if it does not “go nuclear”.
Yet the Coalition’s claims routinely hinge on misinformation: inflating estimations of transmission projects, over-playing the risk of load shedding, over-estimating G20 reliance on nuclear, exaggerating renewables-related land use, and inventing risks from windfarms (on and offshore).
While the international nuclear renaissance has been a farcical (short) history of massive cost and construction blowouts, the Coalition has sidelined those facts at home, leading to claims that Coalition nuclear plans are a delay tactic to perpetuate coal and gas………..
The IPEF stipulates that the Parties should:
“promote transparent licensing, siting, and permitting for clean energy and related generation, transmission, distribution, and storage projects in the electricity sector” (Sect 4, Point 2b)
Furthermore, for those parties supportive of nuclear, they should:
“ensure that sound policy and regulatory frameworks in nuclear safety and waste management are in place when considering the adoption of nuclear energy technologies” (Sect. 4, Point 7a).
The LNP has spent years spruiking nuclear power, yet the Australian public remains in the dark about those two important clauses in the IPEF agreement.
The LNP cannot be ‘transparent’ if it has provided no detail to the Australian public about licensing, siting and permitting. The LNP claims to be considering nuclear, yet where are any serious policy proposals regarding the regulatory frameworks for nuclear safety and nuclear waste?
Instead, the LNP treats citizens as incapable of spotting fabrications and omissions.
For instance, the O’Brien’s/LNP press release tells citizens they will find the IPEF “supporting small modular reactors (SMRs) in the Indo Pacific”. This is a fabrication: the negotiated text of the agreement never mentions SMRs. Similarly, the Coalition omits that the IPEF agreement strongly supports windfarms and energy efficiency, two key elements of the ALP’s Rewiring the Nation plan………….
Treating citizens like mugs
……………………………To be a mug is to be easily deceived. The LNP must assume citizens are mugs if it thinks Australian voters cannot spot the LNP’s misrepresentation of the IPEF agreement. No, Labor is not in contradiction for opposing domestic nuclear and signing the IPEF, because the IPEF favours clean energy in general and advocates for member nations to pursue their own pathway (which may or may not include nuclear power)
Yet even if tempted by the Coalition logic, just remember, the Coalition opposes most of what is supported in the IPEF agreement. The Coalition is not talking straight about either energy policy or international agreements, and voters should keep this in mind as the Coalition obfuscates important international agreements like the Paris Agreement. https://thefifthestate.com.au/columns/spinifex/nuclear-misinformation-in-australia-is-hail-mary-policy-by-the-opposition
1 This month
Chernobyl: The Lost Tapes – A good documentary on Chernobyl on SBS available On Demand for the next 3 weeks– https://www.sbs.com.au/ondemand/tv-program/chernobyl-the-lost-tapes/235274195556
21 April Webinar: No Nuclear Weapons in Australia
Start: 2026-04-21 18:00:00 UTC Canberra, Melbourne, Sydney (GMT+10:00)
End: 2026-04-21 19:30:00 UTC Canberra, Melbourne, Sydney (GMT+10:00)
Event Type: Virtual
A virtual link will be communicated before the event.
Host Contact Info: australia@icanw.org
of the week – Australians for War Powers Reform (AWPR)
To see nuclear-related stories in greater depth and intensity
Antinuclear 