Antinuclear

Australian news, and some related international items

The extraordinary financial costs of ‘small’ nuclear power stations

By Alan Finkel, Cosmos, 21 Mar 24

Partial extract from an article to be posted in 360info.org

They’re being touted as the solution to kickstarting a nuclear power industry in Australia.

According to the Opposition’s Minister for Climate Change and Energy, Ted O’Brien, small modular reactors (SMR) could be built within ten-year period if it wins the next election. 

However, it would likely take 20 years to commence commercial operation of any nuclear reactors in Australia from the time in-principle approval was reached.  To reach that starting point and enable detailed consideration of the challenges and costs of nuclear power, the existing legislative ban on nuclear power in Australia will need to be removed.

There are other obstacles.

While there’s plenty of excitement about SMRs, the problem is there just isn’t enough data about them, mainly because there are none operating in any OECD country.

And it’s unknown when any might be. As Allison Macfarlane, former chair of the US Nuclear Regulatory commission, argues in her article,The end of Oppenheimer’s energy dream, the proposal for small modular reactors to help us in the clean energy transition is fanciful. 

The SMR furthest along the US Nuclear Regulatory Commission (NRC) approval process, from the US company NuScale, cancelled its first planned installation in Utah last November when the initial cost blew out to USD$9 billion, corresponding to USD$20 billion per GW.

The only countries with working SMRs are China and Russia.

Micro and large reactors

Micro reactors are intended to generate electrical power up to 10 MW per unit.  Although companies such as Rolls Royce are developing these, there do not appear to be any commercial micro modular reactors that have completed their design.

That leaves full-scale reactors, which have also been mentioned as part of a possible Australian nuclear power play.

Korean company KEPCO builds most of the nuclear reactors in Korea and has now built one at Barakah in the United Arab Emirates. This 5.6 GW plant, scheduled to open this year, has taken 16 years to complete and cost  USD$24 billion (AUD$36 billion).  At 5.6 GW, that is AUD$6.4 billion per GW.  Given salaries and skills shortages in Australia, inflation, interest rates and our regulatory requirements, it would cost more and take longer in Australia.

The Hinkley C plant in the UK was supposed to be finished in 2017 but has been delayed again until 2031 – 23 years after approval.  The estimated construction cost ballooned to AUD$89 billion.  At 3.2 GW electrical power, that is AUD$28 billion per GW.

In the US, the most recent nuclear reactors to be built are the Vogtle 3 and 4built at the existing facility that is home to the Vogtle 1 and 2 reactors.  Both were  anticipated to be in service in 2016.  Vogtle 3 began commercial operation in July 2023.  Vogtle 4 is projected to commence operation in the second quarter of 2024 – 15 years after the construction contract was awarded.

Construction  cost USD$34 billion (AUD$52 billion) for the combined 2.2 GW output of the two reactors, or AUD$24 billion per GW.

Construction of nuclear plants in the United States has declined dramatically over the years.  Approximately 130 were built from the mid 1950s to the mid 1990s.  Only four commenced operation in the 30 years from the mid 1990s to now, and at the time of writing there are no nuclear reactors under construction in the United States. 

In France, only one nuclear power plant is under construction.  The 1.65 GW Flamanville EPR reactor is hoped to be completed and begin to supply electricity later this year, 17 years after construction began.  The most recent cost estimate was AUD$22 billion or AUD$13 billion per GW.  No other nuclear power plants are planned in France.

These high costs and long delivery durations for full-scale reactors are the reasons SMRs are proposed as a way forward in Australia.  However, SMRs are a new technology.  There are none in operation or construction in any OECD countries, thus it is not possible to estimate the costs or delivery schedules.  NuScale’s investment to date suggests that the capital cost for the first units to be delivered will be very high. ………… https://cosmosmagazine.com/technology/energy/the-extraordinary-financial-costs-of-nuclear-power/

March 27, 2024 Posted by | AUSTRALIA - NATIONAL, business | Leave a comment

Climate-conscious investors put nuclear dead last on list of desirable Australian ventures

Fewer than one in 10 investors exploring new investments in the technology, with most preferring renewables

Guardian, Paul Karp Chief political correspondent, 25 Mar 24

Nuclear energy ranks last on the list of climate technologies that big institutional investors want exposure to, according to a survey of climate conscious investors with $37tn under management.

Fewer than one in 10 investors were exploring new investments in nuclear technology in the survey of the Investor Group on Climate Change, whose 100 members include super funds and asset managers looking after the funds of 15 million Australians.

The survey found a rebound in confidence in Australia’s climate policy but a growing appetite for clear timelines for the phase-out of coal, oil and gas.

The opposition, led by Peter Dutton, plans to propose locating nuclear power plants on the site of retiring coal power plants, claiming that this would save having to build new transmission infrastructure for renewables.

But the plan has been widely panned. The energy department has estimated it would cost $387bn to go nuclear, and Dutton faces opposition from his own state colleagues.

Australia’s big private electricity generators have dismissed nuclear energy as a viable source of power for their customers for at least another decade, and likely more.

In the yearly survey by the Investor Group on Climate Change investors were asked which energy and climate solutions they believed had good long-term returns. Nuclear energy was ranked last of 14 possible responses, along with sustainable oceans.

“This is due to nuclear energy’s very high cost, and the lack of maturity and deployment in next generation technologies,” a policy brief on the survey said, citing the CSIRO’s gencost report.

The five most popular options were: renewable energy (backed by 47% of respondents); nature solutions, including biodiversity or nature capital (34%); energy storage (32%); low carbon transport (32%); and industry/materials, including critical minerals (32%).

In 2021 about 70% of investors cited policy and regulatory uncertainty as a barrier to investing in climate solutions, a figure that dropped to 40% in the 2023 data released on Monday.

Asked to nominate the policies they wanted the government to prioritise, most investors (56%) called for sector-by-sector decarbonisation plans to keep global heating under the 1.5C threshold.

There was also majority support for improved carbon pricing through the safeguard mechanism (54%), funding support for new technology (53%), and phasing out fossil fuel subsidies (51%).

The policy brief said “emerging priorities” included mandatory climate-related disclosures, timelines for the phase-out of coal, oil and gas, and clear policies to build resilience and adapt to the physical damages of climate change.

Erwin Jackson, Investor Group on Climate Change’s managing director of policy, said: “Investors have given the government a pretty good report card………………………………………………….more https://www.theguardian.com/australia-news/2024/mar/25/climate-conscious-investors-put-nuclear-dead-last-on-list-of-desirable-australian-ventures

March 27, 2024 Posted by | AUSTRALIA - NATIONAL, business | Leave a comment

Murder, corruption, bombings – the company at centre of Australia’s submarine deal

March 25, 2024 Posted by | AUSTRALIA - NATIONAL, secrets and lies | Leave a comment

ERA applies to extend lease on Jabiluka uranium mine against traditional owners’ wishes

ABC Rural / By Daniel Fitzgerald, Thu 21 Mar 2024

  • In short: Mining company ERA has applied to extend its lease on the Jabiluka uranium deposit for another 10 years. 
  • Mirarr traditional owners are fiercely opposed to the lease extension and any mining at Jabiluka. ​
  • What’s next? ERA’s lease application will be assessed by the NT government and the company needs to spend at least $2.4 billion to rehabilitate the former Ranger uranium mine. 

A mining company has lodged an application to renew its lease on a uranium deposit surrounded by Kakadu National Park, against the wishes of Indigenous traditional owners. 

Energy Resources Australia (ERA) operated the Ranger uranium mine, 250 kilometres east of Darwin, from 1981 to 2021, and is now rehabilitating the mine, at a cost of over $2.4 billion. 

Since 1991, the company has also had a the lease on the nearby Jabiluka site — which is one of the world’s largest and richest uranium deposits. 

ERA had approval to mine Jabiluka but faced significant opposition from Mirarr traditional owners, which led to a blockade of the mine site by 5,000 people in 1998 and the company’s eventual decision to stop the mine’s development. …………………………………………….

Traditional owners oppose plans

Mirarr traditional owners rejected ERA’s claims that it was in their best interests for the Jabiluka lease to be extended. 

Corben Mudjandi said his people were opposed to ERA renewing its lease and had no confidence in the company. 

“ERA has a very big problem at Ranger, and this application isn’t helping with that,” Mr Mudjandi said. 

“ERA says it wants to protect our cultural heritage at Jabiluka. The best way of doing that is to include it in the World Heritage listed Kakadu National Park where it belongs.” 

In 2022, the Mirarr said they were “appalled” an independent report commissioned by ERA suggested traditional owners might reverse their opposition to mining Jabiluka. 

ERA to raise funds for Ranger clean-up 

Last week, ERA reported a net loss after tax of $1.38 billion in 2023, which included an increase to its rehabilitation provision for Ranger. 

ERA had total cash resources of $726 million at the end of 2023 and flagged an equity raise later this year to fund further rehabilitation at Ranger.

“What guarantee is there that this company will be operating in 12 months’ time?” Mr Mudjandi said. 

“[Applying to extend Jabiluka] is big talk from a company that is $2 billion short of rehabilitation at Ranger.” 

Gundjeihmi Aboriginal Corporation, which represents the Mirarr, said it would seek formal protection of Jabiluka’s cultural heritage through the NT Sacred Sites Act and the Commonwealth Aboriginal and Torres Strait Islander Heritage Protection Act.

“We’ve heard very encouraging words from this company when they assured us Ranger would be cleaned up by January 2026 and look how wrong that turned out to be,” Gundjeihmi chief executive Thalia van den Boogaard said. ………….  https://www.abc.net.au/news/2024-03-21/era-lodges-application-to-extend-jabiluka-uranium-lease-nt/103613966

March 25, 2024 Posted by | aboriginal issues, Northern Territory, uranium | Leave a comment

Financiers shun nuclear, upbeat on climate investment

By Marion Rae,  March 25 2024 https://www.canberratimes.com.au/story/8566564/financiers-shun-nuclear-upbeat-on-climate-investment/

Nuclear energy is last on the list of technologies that investors want exposure to, according to a survey of big institutions.

The vast majority of investors do not see nuclear power as a good investment, with less than one in 10 exploring this technology, the survey released on Monday found.

Opposition Leader Peter Dutton is spruiking nuclear reactors as an option for Australia’s future low-carbon economy although the energy source is illegal under existing laws and Labor has ruled it out.

Renewable energy is tipped to deliver the best long-term financial returns, with half the investors surveyed exploring opportunities to invest.

Investors have also become more confident about Australian climate policy under the Albanese government, according to the survey by the Investor Group on Climate Change.

“Investors have given the government a pretty good report card,” the group’s policy chief Erwin Jackson said.

But Australia will need globally competitive, targeted incentives to suit the nation’s economic strengths and values to stop “ongoing capital flight” to the United States and Europe where there are more generous tax breaks.

Clear timelines for the phase-out of fossil fuels by 2050 would also help investors manage transition risks and remain invested in the Australian economy, according to the group.

This year’s data includes 63 superannuation funds as well as other asset owners and managers, with more than $37 trillion in assets under management globally. Their beneficiaries include more than 15 million Australians.

Emerging priorities include clear timelines for phasing out coal, oil and gas and clear policies to build resilience and adapt to physical damage from climate change.

Opinions citing policy and regulatory uncertainty as a barrier to clean economy investment in Australia have changed dramatically, supported by four out of 10 investors compared with 7 out of 10 in 2021.

Renewable energy (47 per cent) was picked as the best option for long-term climate solutions, followed by nature-based schemes including biodiversity projects (34 per cent).

But investors are still in the dark on the federal government’s sector-by-sector decarbonisation plans for heavy polluters such as the energy, transport, agriculture and resources industries – and on the scope of the 2035 emissions reduction target.

“Credible and clear sector by sector decarbonisation plans to achieve a 2035 target with the highest possible level of ambition are critical for investment and it is critical to build on the steps already taken,” Mr Jackson said.

Climate Change and Energy Minister Chris Bowen has said the 2035 target will be “ambitious and achievable”, with advice to come from Australia’s recently beefed-up Climate Change Authority.

The sectoral review by the authority has an August 1 deadline, and will be released shortly afterwards.

Australian Associated Press

March 25, 2024 Posted by | AUSTRALIA - NATIONAL, business | Leave a comment

Sinking billions: undergunned and overpriced

Missing records, billions in over-runs, conflicts of interest, and flawed ships. How the Defence Department’s new frigates project is a boondoggle for a British weapons-maker.

MICHELLE FAHY, JUL 3, 2023,  https://undueinfluence.substack.com/p/sinking-billions-undergunned-and?utm_source=post-email-title&publication_id=297295&post_id=132705738&isFreemail=true&utm_medium=email

Part one of a two-part series.

In this two-part investigation, Declassified Australia examines the flawed contracting process that led to a $46 billion naval ship-building deal that has been found to be suffering what an investigative audit described as ‘corruption vulnerabilities’.

The company at the centre of the scandal, UK arms giant BAE Systems, is revealed to have lied to Australia’s Defence Department about the planned ship’s design.

Crucial departmental records of key decision-making meetings have gone missing, while no overall assessment of whether the selected BAE design was value for money was ever made.

The Australian National Audit Office (ANAO) reported in May its findings on the multi-billion dollar contract Australia signed in December 2018 with BAE Systems to build nine Hunter-class frigates.

The ANAO found that BAE had overstated – bureaucratic language for lied – the level of development of the frigate’s design, which meant cost inflation and schedule slippage were severely under-estimated.

BAE exaggerated the maturity of its design to get around a key government objective requiring the ship to be based on an existing military-off-the-shelf design with a minimum level of change.

Defence selected the BAE Systems frigate even though the two other ships on its shortlist were considered the two most viable designs.

Business as usual

Conflicts of interest, secret consulting deals, and revolving door appointments all undermine democracy, yet this is business-as-usual at the Defence Department, the nation’s biggest procurement agency.

Former senior BAE executives have been placed at the heart of Australia’s naval procurement. They have helped write government shipbuilding policy, overseen the navy’s largest tenders, and have even been hired by the government to negotiate on its behalf with their former employer on a deal now found to be riddled with probity concerns.

Granting preferential access to certain arms industry insiders escalated under previous Liberal-National coalition governments and since 2022 has continued under the Albanese Labor government, making this a story about state capture as well, when a corporation has the power to bend governments to its will.

When combined with departmental corruption or incompetence, or both, the result is defence procurement projects that are billions of dollars over budget and running years late. As a result, the navy is facing massive capability gaps.

Continue reading this story at Declassified Australia

March 25, 2024 Posted by | AUSTRALIA - NATIONAL, weapons and war | Leave a comment

Nuclear energy debate ‘many years’ away: Qld Deputy Opposition leader

 https://www.ntnews.com.au/news/national/nuclear-energy-debate-many-years-away-qld-deputy-opposition-leader/video/1f0309603f7dbfdfb9f321d128ec63fe 18 Mar 24

Queensland Deputy Opposition leader Jarrod Bleijie claims the nuclear energy debate is “many years” away as he focuses on lowering power prices in the immediate future.

Mr Bleijie said he is focusing on making sure energy is affordable and reliable as the Opposition pushes to bring its coal power stations back online.

“There is a lot of water to go under that bridge before that is the case and I suspect we will be at an election before our federal counterparts,” Mr Bleijie told Sky News Australia.

“I stood at the booths in Ipswich West and Inala and every second person was talking about the cost of living crisis in Queensland now.

“People are hurting, they need to see their electricity bills reduced now and that has to be our priority.”

March 19, 2024 Posted by | politics, Queensland | Leave a comment

NUCLEAR POWER STATIONS ARE NOT APPROPRIATE FOR AUSTRALIA – AND NEVER WILL BE

Climate Council, 15 Mar 24

The prospect of nuclear power in Australia has been a topic of public debate since the 1950s. While Australia has never had a nuclear power station, we do have 33% of the world’s uranium deposits and we are the world’s third largest producer of it. Periodically, as with the changing of the seasons, various individuals appear in the media singing the virtues of nuclear energy – claiming it is the only option for clean and reliable electricity in Australia.

In fact, over one third of Australia’s electricity is already powered by renewables, and new initiatives like the Capacity Investment Scheme are set to push us towards 82% renewable energy by the end of this decade. While the move to clean energy is still not happening fast enough, it is underway and starting to speed up. We do not need distractions like nuclear to derail our progress now, so let’s set the record straight.

Why doesn’t nuclear power make sense for Australia?

1. Nuclear power stations can’t be built anywhere in Australia.

They are banned in every state, and in every territory. Such bans were introduced because of community concerns about the health and environmental risks. Many parliamentary inquiries at a federal and state level – see this Victorian Inquirythis Federal Inquiry, and this South Australian Inquiry for instance – have been held into nuclear energy, and all have concluded that it makes no sense in Australia.

2. Nuclear power stations are expensive and take too long to build.

Australia’s independent science information agency, CSIRO, has found that solar and wind are by far the cheapest ways of producing electricity(even when factoring in storage). In contrast, the cost of building and operating nuclear in Australia remains prohibitively high.
Analysis conducted by the nuclear industry itself shows nuclear power stations take an average of 9.4 years to build – compared to 1–3 years for a major wind or solar project. Australia needs to replace its ageing coal-fired power stations as quickly as possible to rapidly reduce emissions this decade. As shown in the Australian Energy Market Operator’s Integrated System Plan, by far the cheapest and quickest way to do this is to ramp up renewable energy paired with storage like pumped hydro, and batteries.

3. Nuclear power poses significant community, environmental, health and economic risks.

Radiation from major nuclear disasters, such as Chernobyl in 1986 and Fukushima in 2011, have impacted hundreds of thousands of people and contaminated vast areas that take decades to clean up. Even when a nuclear power station operates as intended, it creates a long-term and prohibitively expensive legacy of site remediation, fuel processing and radioactive waste storage.

4. Nuclear power is not renewable, and it is not safe.

Uranium is a finite resource just like coal, oil and gas. It needs to be mined and, just like mining coal, oil and gas, this carries serious safety concerns, including contaminating the environment with radioactive dust, radon gas, water-borne toxins, and increased levels of background radiation. On the other hand, energy generated from the sun and wind releases no pollutants into the air and is overwhelmingly considered to be safe. 

There you have it: nuclear power is expensive, illegal, dangerous and decades away from powering our homes and businesses. It makes no sense. On the other hand, energy from the sun and wind is cheap, abundant, safe and available now. So, let’s get on with building more renewable energy!

What is a nuclear power station?…………………………………………………

Unlike coal and gas, no greenhouse gas pollution is created in the operation of the nuclear reactor. However, all other steps involved in producing nuclear power – from mining, to construction, decommissioning and waste management – result in greenhouse gas pollution.………………………….

Case Study 1: Hinkley Nuclear Power Station, United Kingdom………………………

Case Study 2: NuScale Power, United States of America……………………………..

Meeting the climate challenge means taking bold and decisive action this decade with the technologies that are ready to go in Australia today. The significant limitations nuclear energy faces means that there is no real prospect of it playing a role in reducing Australia’s emissions.

March 18, 2024 Posted by | AUSTRALIA - NATIONAL, politics | Leave a comment

Reversing Europe’s and Australia’s slide into irrelevance & insecurity – National Press Club of Australia speech- Yanis Varoufakis

First, Australia must restore a reputation tainted by blindly following America into lethal adventures in Iraq, Afghanistan and, today, via its active and crucial complicity in Israel’s deliberate war crimes in Gaza, East Jerusalem and the West Bank.

Children are not starving in Gaza today. No, they are being deliberately starved. Without hesitation or remorse. The famine in Gaza is no collateral damage. It is an intentional policy of starving to death thousands until the rest agree to leave their ancestral homeland.

Second, Australia has a duty to de-escalate the New Cold War. To understand that this can only be done if Australia ends its servility to a United States’ actively creating the threats that they then make us pay through the nose to protect us from.

Imagine an Australia that helps bring a just Peace in Ukraine, as opposed to a mindless forever war. A non-aligned Australia that is never neutral in the face of injustice but, also, not automatically aligned with every warmongering adventure decided in Washington.

Imagine an Australia which, having re-established its credentials as a country that thinks and acts for itself, engages with China in the spirit of peaceful cooperation – a far better way of addressing Beijing’s increasing authoritarianism toward its own peoples than buying useless, hyper-expensive submarines that only succeed in forcing China’s political class to close ranks around a more authoritarian core.

Imagine a truly patriotic Australian Prime Minister who tells the American President to cease and desist from the slow murder of Julian Assange for the crime of journalism – for exposing American war crimes perpetrated behind the back of US citizens in their name.

To conclude, if Europe and Australia are to escape gross irrelevance, we need separate but well-coordinated European and Australian Green New Deals.

DiEM25, our paneuropean movement, is working toward this goal.

Yanis Varoufakis – 14/03/2024 

Europe and Australia are facing a common existential threat: a creeping irrelevance caused, on the one hand, by our failure properly to invest and, on the other hand, by our ill-considered slide from a strategic dependence on the United States to a non-strategic, self-defeating servility to Washington’s policy agenda.”

Yanis Varoufakis’s address at the National Press Club in Canberra on Wednesday 13 March, 2024

…………………………………. The three post-war phases that shaped Australia’s and Europe’s habitat

Our present moment in Europe and in Australia has been shaped by three distinct postwar phases.

The first was the Bretton Woods system. America exited the war as the only surplus, creditor country. Bretton Woods, a remarkable recycling mechanism, was, in effect, a dollar zone built on fixed exchange rates, sustained by capital controls, and erected on the back of America’s trade surplus. With quasi-free trade as part of the deal, Washington dollarised Europe, Japan and Australia to generate aggregate demand for the products of its factories – whose productivity had skyrocketed during the war. Subsequently, the US trade surplus sucked the exported dollars back into America.  The result was twenty years of high growth, low unemployment, blissfully boring banking and dwindling inequality. Alas, once the United States lost its trade surplus, Bretton Woods was dead in the water.

The second phase was marked by the violent reversal of this recycling mechanism. The United States became the first hegemon to enhance its hegemony by boosting its trade deficit. Operating like a powerful vacuum cleaner, the burgeoning US trade deficit hoovered up the world’s net exports. And how did America pay for them? With dollars which it also hoovered up from the rest of the world as German, Japanese and later Chinese capitalists sent to Wall Street 70% of dollar profits made from their net exports to the US. There, in Wall Street, these foreign capitalists recycled their dollar profits into Treasuries, real estate, shares and derivatives.

This audacious inverted recycling system, built on US deficits, required ever increasing American deficits to remain stable. In the process, it gave rise to even higher growth than the Bretton Woods era, but also to macroeconomic and financial imbalances as well as mind-numbing levels of inequality. The new era came complete with an ideology (neoliberalism), a policy of letting finance rip (financialisation), and a false sense of dynamic equilibrium – the infamous Great Moderation built on hugely immoderate imbalances.

Almost inevitably, on the back of the perpetual tsunami of capital rushing in from the rest-of-the-world to Wall Street, financiers fashioned gigantic pyramids of complex wagers – Warren Buffet’s infamous Weapons of Mass Financial Destruction. When these crashed, to deliver the Global Financial Crisis, two things saved Wall Street and Western capitalism:

  • The G7 central banks, that printed a total of $35 trillion on behalf of the financiers from 2009 to last year – a peculiar socialism for bankers. And,
  • China, which directed half its national income to investment, thus replacing much of the lost aggregate demand not only domestically but also in Germany, Australia and, of course, in the United States.

The third period is more recent. The era of technofeudalism, as I call it, which took root in the mid-2000s but grew strongly after the GFC in conjunction with the rapid technological change that caused capital to mutate into, what I call, cloud capital – the automated means of behavioural modification living inside our phones, apps, tablets and laptops. Consider the six things this cloud capital (which one encounters in Amazon or Alibaba) does all at once:

  1. It grabs our attention.
  2. It manufactures our desires.
  3. It sells to us, directly, outside any actual markets, that which will satiate the desires it made us have.
  4. It drives and monitors waged labour inside the workplaces.
  5. It elicits massive free labour from us, its cloud-serfs.
  6. It provides the potential of blending seamlessly all that with free, digital payments.

Is it any wonder that the owners of this cloud capital – I call them cloudalists – have a hitherto undreamt of power to extract? They are, already, a new ruling class: today, the capitalisation of just seven US cloudalist firms is approximately the same as the capitalisation of all listed corporations in the UK, France, Japan, Canada and China taken together!

Continue reading

March 16, 2024 Posted by | AUSTRALIA - NATIONAL, politics, reference | Leave a comment

Dutton’s blast of radioactive rhetoric on nuclear power leaves facts in the dust

Graham Readfearn, Guardian, 14 Mar 24

Coalition’s claim of cheap power and quickly built reactors is at odds with real world experience of other countries.

We may not yet be entering a nuclear age in Australia, but we would all be best advised to handle the rhetoric around the issue as carefully as we would radioactive waste.

This week opposition leader Peter Dutton said an annual CSIRO report that had included estimates of costs for small modular reactors – which are not yet available commercially – was “discredited” because it “doesn’t take into account some of the transmission costs, the costs around subsidies for the renewables”.

Dutton is referring to a report known as GenCost, which calculates the cost of generating electricity from different technologies when fuel, labour and capital are included. This metric is known as the levelised cost of electricity.

Despite Dutton’s claim, the most recent GenCost report does include the cost of integrating renewables such as solar and wind into the electricity grid. That is, it includes the cost of building new transmission lines and energy storage such as batteries.

The most recent GenCost report estimates a theoretical small modular reactor built in 2030 would cost $382 to $636 per megawatt hour. It says this is much more expensive than solar and wind, which it puts at between $91 and $130 per MWh even once integration costs are included.

The calculations in GenCost don’t include subsidies for any generating technologies – including renewables or future SMRs.

The cost estimates for SMRs are challenging because no commercial plant has been built. But the closest a project has got to existing – the Carbon-Free Power Project in Utah – was cancelled late last year primarily because the cost of the power would have been too high. And that project was given more than $2bn from the US Department of Energy.

Mycle Schneider is an independent nuclear expert and coordinator of the annual World Nuclear Industry Status report that tracks nuclear power development around the globe. He points to research from US financial group Lazard that says in the US, the costs of unsubsidised solar and wind including firming costs, such as batteries, range from US$45 to $141 per MWh compared to new-build nuclear at US$180 per MWh.

Ramping up the nuclear rhetoric

On Tuesday, Dutton said he would soon reveal six potential sites for nuclear reactors around Australia – likely to be close to, current or retiring coal-fired power stations.

Shadow energy minister Ted O’Brien claimed this week Australia could have nuclear power “up and running” within a decade.

“Nuclear ‘up and running within a decade’ does not fit with the experience we have seen elsewhere,” said Prof MV Ramana, a nuclear expert at the University of British Columbia and a contributor to the nuclear industry status reports.

Ramana points to Finland that has operated reactors since the 1970s, where parliament voted in 2002 to add a fifth reactor to the country’s fleet. Work started in 2005 but the reactor didn’t connect until 2022 “almost exactly 20 years after the parliamentary vote,” he said.

“We can see similar long periods of time between decisions to build reactors and when they start operating, again in countries that already have nuclear plants, in countries like the United States and the United Kingdom.”

Dutton and O’Brien have both said there are 30 economies around the world using nuclear and “50 more” that want to.

But Schneider says there are actually 32 countries with nuclear reactors, “but the top five generators produced 72% of the nuclear electricity in the world.”

“Over the past 30 years, only four countries started nuclear programs (Romania, Iran, Belarus, UAE) and three phased out their programs (Kazakhstan, Lithuania, Germany). There are reactors under construction in three more newcomer countries (Bangladesh, Egypt, Turkiye). Most other ‘plans’ are vague.”

The UAE – a model case study?

On Sky News, O’Brien pointed to the United Arab Emirates as a country that had commissioned South Korea’s Kepco to build four reactors of the size that could be considered for Australia in less than a decade.

In fact, each of the 1.4GW UAE plants was expected to be delivered in five years, but took eight, according to the industry status report. And it took 12 years from the announcement of the plan in 2008, to the first unit coming online in 2020.

The problem with using the UAE as a case study is that it is not a democracy, but an autocracy.

“The UAE is not a good model for Australia,” Ramana said………………………………………..

Reactor reactions

Experts have told the Guardian that even if Australia were to remove its federal and state bans on nuclear energy, it would be unlikely to see reactors generating power until the 2040s – at which point most, if not all, of Australia’s coal-fired power will have been turned off years earlier. One nuclear advocate questioned whether Australia could actually find a company to build reactors.

This week one political journalist said on Sky that “Canada is about to put in small modular reactors” and had selected a site in Ontario.

While Ontario Public Generation does plan to build a fleet of four small modular reactors, the company doesn’t yet have a licence to construct them.

If it does go ahead, OPG has said it doesn’t expect the first-of-its-kind unit – each about one-tenth the size of Australia’s biggest coal-fired power plant – to be working commercially until the end of 2029.

Expertise needed to make giant leap

O’Brien and Dutton have rejected the notion that Australia would be “starting from scratch” on nuclear, citing the existence of the tiny reactor at Lucas Heights near Sydney, the country’s existing reserves of uranium and the agreement to buy nuclear-powered submarines in the future.

Glenne Drover, the secretary of the Victorian branch of the Australian Institute of Energy and a broad supporter of nuclear power, said it was “quite a step up” from the 20MW Lucas Heights research reactor “to 1,000MW+ and to build, own and operate a pressure reactor”………………………more https://www.theguardian.com/environment/2024/mar/14/peter-dutton-nuclear-power-comments-csiro-small-modular-reactors

March 14, 2024 Posted by | AUSTRALIA - NATIONAL, politics | Leave a comment

Australia’s biggest smelter to launch massive wind and solar tender, says nuclear too costly

Giles Parkinson, Renew Economy, Mar 13, 2024

A massive tender for wind and solar projects is to be launched next week to help repower Australia’s biggest aluminium smelter Tomago, near Newcastle, with its majority owner saying nuclear is out of the question because it is too slow and too expensive.

The tender will be a landmark event for the Australian renewable energy transition, because the Tomalgo smelter – with annual demand of more than 8 terawatt hours, is the biggest single energy consumer in the country.

Majority owner Rio Tinto this year has already announced two record-breaking contracts for wind and solar farms in Australia to provide power for its Boyne Island smelter in Gladstone, Queensland, and its two alumina refineries in the same port city.

Those contracts included one for the first gigawatt scale solar project in Australia, the 1.1 GW Upper Calliope solar project in central Queensland, and the 1.4 GW Bungapan wind project to be developed by iron ore billionaire Andrew Forrest’s majority owned Windlab.

In an interview on Renew Economy’s popular and weekly Energy Insiders podcast this week, the head of Pacific Repowering in Rio Tinto’s energy and climate division, Vik Selvaraja, says the first steps towards a new tender will be launched next week.

“Next week, we’re launching an RFP (request for proposals) for Tomago,” Selvaraja told the podcast.

“And we are very, very keen to go down a very similar process of assessing what projects exist in New South Wales that we can partner with to bring to the market.”………………………………..

The switch from fossil fuels to renewables for the country’s biggest consumers of energy makes a nonsense of the claims that such facilities can only prosper on so-called “base-load” power, a claim the federal Coalition uses to justify its plans to extend the life of coal fired generators and replace them with nuclear.

Opposition energy spokesman Ted O’Brien has been claiming that while nuclear is expensive to build, it is somehow cheap to consume. But that too is a nonsense claim, and only made possible in some countries by government ownership and massive subsidies.

Asked about the nuclear option, Selvaraja said: “As far as we can see … all validated and independent data that exists on costs say that it (nuclear) is a very expensive source of energy. And I think in Australia, certainly, we’ve got low cost wind and solar, and we were going to run with that.”

Rio Tinto, it should be noted, was once one of the major producers of uranium, but no more following the closure of the Ranger mine in the NT, owned by Energy Resources of Australia.

You can listen to the full interview with Selvaraja here, along with our weekly commentary of all things energy. You can find past episodes of the Energy Insiders and other RenewEconomy podcasts here.  https://reneweconomy.com.au/australias-biggest-smelter-to-launch-massive-wind-and-solar-tender-says-nuclear-too-costly/

March 13, 2024 Posted by | AUSTRALIA - NATIONAL, business, energy | Leave a comment

Nuclear slow and expensive, renewables fast and cheap: Bowen slaps down Coalition “fantasy”

Giles Parkinson, Mar 7, 2024,  https://reneweconomy.com.au/nuclear-slow-and-expensive-renewables-fast-and-cheap-bowen-slaps-down-coalition-fantasy/

Federal climate and energy minister Chris Bowen has again slammed the federal Coalition’s “nuclear fantasy”, describing it as a deliberate distraction and the latest “desperate effort” to keep the culture war over energy and climate alive.

“(They say) renewable energy is all too hard, we’ll just have to go nuclear,” Bowen said in comments at the Smart Energy Council conference in Sydney, adding that the technology is “utterly uneconomic.”

Bowen was asked why the government would not support a lifting of the ban against nuclear power and allow – as the Coalition and others suggest – to let the “market decide.” He pointed to the fact that it would take a decade to develop a regulatory regime, and three states also had their own bans in place.

“They say ‘lift the ban’ and the market will sort it,” Bowen said.

“Well, the market hasn’t sorted it out anywhere else in the world, there is not a market in the world where nuclear isn’t subsidised substantially by government. So this idea that we lift the ban and all these foreign investors are going to suddenly come to help Australia’s nuclear sector is just fantasy.”

Bowen said three states would also have to lift their bans, and only then could a regulatory process be put in place which he said would require at least 10 years, before deciding on location, environmental approvals and the question of subsidies.

“It would be a massive distraction,” Bowen said. “And it would send the signal somehow to the market that Australia and the Australian Government are interested in nuclear, when we’re not because it uneconomic, utterly uneconomic.

Coalition leader Peter Dutton and energy spokesman Ted O’Brien had favoured small modular reactors, and dismissed large “Soviet era” reactors, but appear to have now changed their mind and flipped back towards large scale nuclear after the only prospective SMR in the western world was cancelled because of soaring costs.

Bowen says the push to nuclear is simply an extension of the culture war over climate and energy issues.

“We know the sorts of arguments they run. It’s a desperate effort to keep the culture war alive. Renewable energy is all too hard. We’ll just have to go nuclear.”

Federal Labor has adopted a target to reach 82 per cent renewables by 2030, and most energy experts suggest all remaining coal fired power stations would be closed by around 2035.

Nuclear is seen as impossible to deliver in Australia before 2040, notwithstanding its costs, and energy experts question how an essentially “baseload” energy supply can be jammed into what will by then be a grid dominated by wind and solar, and particularly rooftop solar, which will require storage and flexible capacity.

The federal government’s Capacity Investment Scheme is likely to seek 10 GW of new wind and solar capacity in a series of auctions in 2024, and likely a similar amount in 2025, along with at least 3 GW of long durations storage in each of the next three years.

Bowen said a formal announcement is expected soon. He said the result of the first CIS auction, for 600 MW of long duration storage (defined as a minimum four hours) had elicited a very good response and the results would be announced in coming months.

March 7, 2024 Posted by | AUSTRALIA - NATIONAL, politics | Leave a comment

Market has ‘made its decision’ about nuclear energy being too expensive

 https://www.skynews.com.au/australia-news/politics/market-has-made-its-decision-about-nuclear-energy-being-too-expensive/video/58ffe065fe30d28c7c02e614e442f81b 7 Mar 24

Labor MP Andrew Charlton says the market has “made its decision” about nuclear energy being too expensive.

Mr Charlton joined Sky News Australia to discuss the latest developments in nuclear energy across the world.

“We saw recently the small nuclear reactor in Idaho was cancelled because of rising costs – that was a market decision to say no to nuclear,” he said.

“Let’s remember, this small nuclear reactor in Idaho is the one that the Liberal Opposition called the future of clean energy – it’s now being cancelled, it’s being scrapped.

“The truth is that the market has made its decision about nuclear energy; it knows that nuclear energy is by far the most costly type of new energy that we could add into the grid, and that’s why it’s not part of the government’s plan.”

March 7, 2024 Posted by | AUSTRALIA - NATIONAL, business | Leave a comment

Top scientist explains nuclear process and risks: Sunshine Coast previously considered for facility

Sunshine Coast News, STEELE TAYLOR, 6 MARCH 2024

A leading local academic has detailed the risks posed by nuclear power, amid revelations the Sunshine Coast was, in 2007, put on a shortlist of possible sites for a facility.

Emeritus Professor Ian Lowe says there are multiple problems with nuclear energy, including high costs, lengthy builds, health threats and international tension.

Professor Lowe explained the process of nuclear energy production, and the potential for accidents.

“In a nuclear reactor, the process of fission (breaking up of unstable large atoms like uranium) releases heat energy, which is used to boil water,” he said.

“It is basically just a more complicated way of boiling water than burning coal or gas.

“The steam produced by the boiling water is used to turn a turbine and generate electricity.

“In normal operation, nuclear reactors have a good safety record but there have been a series of large-scale accidents like the Windscale fire, the Three Mile Island meltdown, the Chernobyl explosion and the destruction of the Fukushima reactor by a tsunami.

Those accidents have made people nervous about living near a nuclear power station.

“In the cases of Chernobyl and Fukushima, whole regions have been made permanently uninhabitable because the radiation levels are not safe for people to live there.

“As well as the small but non-zero risk of serious accidents, nuclear reactors produce radioactive waste that will need to be safely stored for thousands of years.

“This is a problem that is causing real headaches for all the countries that have nuclear power stations, with only one – Finland – being on the path to a solution.”

Professor Lowe says nuclear energy production has multiple requirements, and locations for power plants have been considered.

“If we were to build a nuclear power station in Australia, the need for massive amounts of cooling water would demand a coastal site,” he said.

“It would also need to be connected to the electricity grid and ideally be near a major power user like a capital city.”

The Australia Institute used a checklist of the needs to produce a shortlist of possible sites for nuclear power plants, for a research paper that was produced in late 2006 and released in early 2007.

The Sunshine Coast, where Professor Lowe has lived for the past 20 years, was among the locations named.

“In a nuclear reactor, the process of fission (breaking up of unstable large atoms like uranium) releases heat energy, which is used to boil water,” he station.

“In the cases of Chernobyl and Fukushima, whole regions have been made permanently uninhabitable because the radiation levels are not safe for people to live there.

“As well as the small but non-zero risk of serious accidents, nuclear reactors produce radioactive waste that will need to be safely stored for thousands of years.

“This is a problem that is causing real headaches for all the countries that have nuclear power stations, with only one – Finland – being on the path to a solution.”

Professor Lowe says nuclear energy production has multiple requirements, and locations for power plants have been considered.

“If we were to build a nuclear power station in Australia, the need for massive amounts of cooling water would demand a coastal site,” he said.

“It would also need to be connected to the electricity grid and ideally be near a major power user like a capital city.”

The Australia Institute used a checklist of the needs to produce a shortlist of possible sites for nuclear power plants, for a research paper that was produced in late 2006 and released in early 2007.

The Sunshine Coast, where Professor Lowe has lived for the past 20 years, was among the locations named.

“It is worth adding that the tsunami of panic among sitting members of parliament when that list was released had to be seen to be believed,” he said.

“But we do now have a local member (Fairfax MP Ted O’Brien), promoting nuclear energy with great enthusiasm.”

There is no indication that the Sunshine Coast is on a current shortlist of possible sites………..

Mr O’Brien has previously said, via ABC Radio National, that he would welcome a nuclear facility in his electorate or any other electorate, “where it is proven to be technologically feasible, has a social licence and is going to get prices down”.

But he also told Sunshine Coast News that a nuclear facility would probably be better placed somewhere other than the Coast………………..

Legalities and history

Professor Lowe says there would be legal hoops to jump through to make nuclear power production possible in the country.

“Nuclear power is not legal in Australia. To get support for its Environmental Protection and Biodiversity Conservation Act in 1999, the Howard government included clauses that specifically prohibit uranium enrichment, fuel fabrication and the building of power reactors,” he said.

“So, any proposal for nuclear power would require repealing that prohibition.

“The current government has no interest in doing that; neither did the Coalition at any point in their nine years in office.

“Since the 2007 report, no Australian government – national or state, Coalition or ALP – has shown any serious interest in nuclear power………… there is certainly enough opposition to make any politician very nervous about the chances of the community supporting it.”…………………………………………….. https://www.sunshinecoastnews.com.au/2024/03/06/academic-outlines-risks-of-nuclear-power-coast-on-shortlist/?fbclid=IwAR2I76u7tz5tjM31QVgAq3P_UBlTk8qySjV7dflzmrLmWai10-bUq65Cq9Q

March 7, 2024 Posted by | politics, Queensland | Leave a comment

MP says coalition ‘must’ explain plan for nuclear power near Anglesea on the Victorian Surf Coast

March 3, 2024 by Tim Lamacraft,  https://www.bay939.com.au/local-news/mp-says-coalition-must-explain-nuclear-coast-plan/

The federal member for Corangamite says the coalition needs to explain where it would build a nuclear reactor on the Surf Coast.

It follows suggestions from Liberal leader Peter Dutton the former Anglesea power station would be a suitable location for nuclear power generator.

Anglesea was in Labor MP Libby Coker’s seat of Corangamite before it moved into the electorate of Wannon for the 2022 election, held by senior Liberal MP Dan Tehan who’s now seeking to downplay nuclear talk there.

Asked last week if Anglesea could host a small modular reactor (SMR) as suggested by his leader, Mr Tehan said Alcoa’s former coal mine and power generator there was already earmarked for an eco-tourism site by the UK based Eden Project.

“Planning is already taking place, and we’re looking at the first small modular nuclear reactor occurring in 2035, obviously the community and everyone hopes that the Eden Project will be up and running by that stage,” he said.

The Eden Project is facing increasing pushback from the Surf Coast community, including from the local shire where the deputy mayor is opposed to it.

“There are a lot like me who are wary of the proposal and definitely question the need, probably very, very sceptical about their being a need for it,” Cr Mike Bodsworth said, who also represents the Anglesea ward.

When asked by Geelong Broadcasters what he thought the chances of nuclear reactor going into Anglesea were, Dan Tehan said he was “on the record as supporting the Eden Project.”

“The community strongly supports the Eden Project, like I do,” Mr Tehan said.

“As we continue to investigate sites around the country, there’ll be other sites which will tick the box more so than Anglesea, where there is already – I think – a very worthwhile proposal.”

Libby Coker remains unconvinced, and says the opposition is yet to outline much of the detail behind its push for nuclear power, including the disposal of spent fuel.

“Peter Dutton and the Coalition must tell us where on the Surf Coast they’re planning to build this nuclear reactor and put its waste,” she said.

March 6, 2024 Posted by | politics, Victoria | Leave a comment