
Nuclear Reactors a poor choice
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Some Issues:
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“Expensive”: Energy companies, research, real life experience
• The CEO of AGL, the nation’s biggest energy company and owner of coal-fired power, Damien Nicks says the push for nuclear is creating uncertainty for investors and businesses: “There is no viable schedule for the regulation or development of nuclear energy in Australia, and the cost, build time and public opinion are all prohibitive.”
• Rio Tinto's Vik Selvaraja, head of Pacific Repowering in the Rio Tinto Energy Division 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.”
• Former Chief Scientist Alan Finkel says nuclear is “too expensive” He’s also said: “There’s no operating small modular reactor in Canada, America or the UK, or any country in Europe.”
• CSIRO’s latest report says: “Nuclear small modular reactors (SMRs) emerged as the highest-cost technology explored in the report. This corresponds with new data from the most advanced SMR project in the US.”
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Delayed Renewables – nuclear takes a very long time to develop.
• Fortescue boss Dr Andrew Forrest says: "If you think that nuclear came out of nowhere, no, it didn't. It's been pushed by the fossil fuel sector as a great way to delay the whole country for 20 years from switching over to cheaper energy."
• Howard-appointed former Chief Scientist (and fan of nuclear) Robin Batterham: “To reduce renewable targets in the belief that nuclear will be deployed later at scale would create a material risk of not achieving net zero, or doing so at an excessive cost. It’s not in the race – we shouldn’t waste time arguing about it.”
• The CEO of AGL, the nation’s biggest energy company and owner of coal-fired power, Damien Nicks says: “the cost, build time and public opinion are all prohibitive.”
• Tennant Reed (energy analyst Australian Industry Group) and Tony Wood (energy analyst Grattan Institute) estimate nuclear reactors are up to 25 years away.
• University of Newcastle Vice Chancellor and former Chief Defense Scientist of Australia, Alex Zelinsky, says building a nuclear power station in the Hunter would take at least two decades.
• Former Chief Scientist Dr Alan Finkel: “By time you change the legislation, start investing, building the workforce, find the right nuclear technology, go through all the regulatory hurdles that will be required for both environmental considerations and social license, it’s hard to see any nuclear in Australia in, say, less than 20 years.”