Is nuclear energy a reasonable option for Australia?
Nuclear power and Australia John Quiggin January 21st, 2010 There’s been a bit of discussion about nuclear power lately, but it tends very much to the abstract. I thought I would look into the question of when, if ever, nuclear power might be a reasonable option for Australia to consider, and how we should go about it.
An obvious starting point is the Switkowski report commissioned by the Howard government, which I’ve uploaded here. There are three main points which allow me to provide an answer to the question, at least for the next decade or so.
(i) In the absence of a substantial carbon price nuclear power is not competitive with coal
(ii) First-of-a-kind (FOAK) nuclear plants are likely to be very expensive (above $80/MWh), not competitive with wind or gas (even with CCS)………………minimal conditions can’t be met before 2025 at the earliest.
The US, which has been attempting for a decade to restart its nuclear industries is still at the pilot stage, exploring a number of technologies, and offering to subsidise the construction of three plant designs for each major option. Most of the proposals are on existing sites, only six have reached the point of a plant actually being ordered, and none is anywhere near starting construction……..
……That suggests that Australia should forget about nuclear power entirely for at least the next five years. If things are going well for nuclear, and not so well for renewables, that would be the time to start setting up regulatory structures, looking for sites and so on. http://johnquiggin.com/index.php/archives/2010/01/21/nuclear-power-and-australia/
ERA uranium shares fall, less output and lower grade ore
Energy Resources Shares Fall After Drop in Uranium Oxide Output By James PatonJan. 13 (Bloomberg) — Energy Resources of Australia Ltd., the uranium producer controlled by Rio Tinto Group, fell the most in 2 1/2 months after saying fourth-quarter output dropped 30 percent as it processed lower grades of ore. Continue reading
Sustainable investment fund looks to the long term
The company now has an office in Australia because it sees the Australian superannuation industry as likely to be attracted to its philosophy.
In the wind: America’s drive towards clean technology Sydney Morning Herald ANNE DAVIES, WASHINGTONJ anuary 9, 2010 “….Barack Obama, facing the steepest downturn since FDR’s time, wants to transform America into a green machine, Continue reading
Ziggy Switkowski’s nuclear plan would cost $225 billion or more
This could cost about $225 billion in today’s money, or close to half a trillion dollars for 50 reactors……….
Nuclear economics just don’t add up Sydney Morning Herald MICHAEL R. JAMES December 24, 2009 -“……. it was inevitable that the federal Opposition would revisit nuclear power as an option for a low-carbon future in Australia. Given the recent sobering Government report on carbon capture and storage, “clean coal” seems less and less as the likely saviour………… Continue reading
Uranium price prospects not looking too good
Oz Uranium Sector ninemsn Money 14/12/2009 3 By Chris Shaw The spot uranium price is now US$45 per pound, which is down 5% from 3-month ago levels and compares to a spot price of US$52.50 per pound as at the end of last year. Continue reading
Shareholders protesting BHP’s uranium mining
BHP chief takes on shareholder activists ABC Radio PM Annie Guest reported this story on November 26, 2009
The protestors outside and shareholder activists inside raised concerns about uranium mining and storage……..PROTESTOR: Mr Argus… that would be millions of tonnes of radioactive waste… Continue reading
Four Mile uranium mine stalled by quarrels
Four Mile partners still squabbling
QUASAR Resources is asking shareholders of joint venture partner Alliance to urge the company’s board to move ahead on the Four Mile uranium mine soon. Continue reading
Nuclear power uneconomic for Australia
Peak Energy: Crikey’s Bernard Keane has the next installment of his series on why nuclear power is unlikely to be seen in Australia – 20 Nov 09
To those who say “beaudy nuke”: why should taxpayers suffer? What would it cost Australia to go nuclear? Good question. Excellent question, in fact, because no one really knows. Continue reading
Low uranium prices stopping new projects
Uranium too low to incentivise new mines Mining Weekly By: Liezel Hill17th November 2009 TORONTO– Uranium prices still will need to firm significantly to justify the development of many of the mining projects being considered around the world, Jean Nortier, the CEO of Vancouver-based Uranium One, reiterated on Monday……… Continue reading
Solar energy to pay off for homes and farms
New solar scheme to shine on energy-efficient households THE LAND NICOLA BELL16 Nov, 2009 FARMS and households generating their own renewable energy Continue reading
Australian uranium company’s big revenue loss
oilweek Nov 12, 2009 Paladin Energy suffers big loss; revenue down almost US$14M (Paladin) Ca PERTH, Australia _ Continue reading
Miners’ tunnel vision: profits before survival
Miners digging their own graves to preserve profits
November 10, 2009
QUEENSLANDERS, particularly in the regions, have been pounded with ads from the mining industry Continue reading
Uranium projects uneconomic due to weak uranium prices
DJ ERA: Weak Uranium Prices, Weak USD Makes Projects UneconomicMon. TRADING MARKETS November 09, 2009; SYDNEY, Nov 09, 2009 Dow Jones Commodities News via Comtex) – Uranium miner Energy Resources of Australia Ltd. (ERA.AU), a unit of Rio Tinto Plc (RTP), said Tuesday weak uranium prices as well as the weak U.S. dollar would render new mining projects uneconomic in the longer-term.
This would leave the market heavily dependent on expansions in Kazakstan, in an industry where the global financial crisis was likely to slow new reactor build……………………
Job losses at BHP’s uranium mine
Olympic mine job losses The Age BARRY FITZGERALD November 7, 2009 BHP Billiton has warned of job losses among its contractor workforce at the damaged Olympic Dam copper-gold-uranium mine in South Australia Continue reading
Olympic Dam uranium mine outage: jobs at risk?
Long outage expected for Olympic Dam THE AUSTRALIAN Matt Chambers | October 22, 2009 BHP Billiton has confirmed that damage to its Olympic Dam underground copper and uranium mine, caused by a plummeting fully loaded ore skip, will keep the operation at one-quarter capacity for up to six months. …… Continue reading
1 This month
of the week – Australians for War Powers Reform (AWPR)
To see nuclear-related stories in greater depth and intensity
Antinuclear 