• Interim report finds nuclear is “not a timely or practical solution” to emissions, and “not a viable investment of taxpayer money” with usual costs doubling for initial builds
• Nuclear “costlier to build than readily available alternatives”, subject to delays and blowouts
• Chasing nuclear in 2040 would kill energy jobs being created today
A parliamentary inquiry into nuclear power has found the technology is slow, expensive and impractical, making it a poor choice for Australia’s energy needs, in its interim report.
The report, tabled in Federal Parliament on Tuesday evening, found nuclear would not be a viable investment of taxpayer money, making Australia subject to the cost blowouts and delays that have plagued nuclear projects globally – even in countries with experience in the area.
It also found that costs were usually 100 percent higher for initial builds, and electricity generated by nuclear plans would be “costlier than readily available alternatives”.
It found Small Modular Reactor (SMR) technology favoured by nuclear proponents was so experimental it could not be accurately costed because it had not ever successfully been produced or implemented in a commercial environment.
The inquiry found that any jobs created by the nuclear industry would arrive far too late for people working today in energy generation.
The report referred to submissions from the ETU and ACTU highlighting the danger of destroying renewable energy jobs today to pursue a much smaller, speculative number of nuclear jobs in several decades’ time.
ETU National Secretary Michael Wright said the inquiry’s findings should prompt Opposition Leader Peter Dutton to act in the national interest and drop his nuclear energy proposal.
“This report shows that nuclear just doesn’t add up on any level. It’s less power than we need, for more money than we can afford. It’s destroying tens of thousands of real jobs today with the shaky promise of few thousand jobs in 2040.”
“The report shows nuclear is too slow to replace ageing generation infrastructure. Even on the unrealistic timelines being promised by Peter Dutton, at least seven coal generators would shut down before the first nuclear generator started up.
“It is more expensive than solar, wind or coal even with the most optimistic assumptions.
“Australian electrical workers are building a real transition today that is creating more energy jobs with every passing year using the lowest-cost generation and battery fast track.
“Tens of thousands of apprentice electrical workers are being hired into the renewable and battery fast lane today. Their future is on the line.
“If this nuclear plan goes ahead most ETU members will be retired or dead before it creates a single electrical job.”