Of all the debates unleashed by the Coalition’s nuclear energy announcement this week, energy prices is among the hottest. As Australians struggle with the skyrocketing cost of living, Opposition Leader Peter Dutton’s plan gives little assurance he can bring power bills down – neither soon nor into the future.
Dutton’s plan, for seven Commonwealth-owned nuclear plants across Australia, came with no costings or modelling attached. We don’t know the price tag to build and operate the reactors. More importantly, we don’t what the total system, with nuclear included, will look like or cost.
But we do know the first nuclear plant, if it ever gets built, would not be operational for at least a decade – and even that is a very optimistic timeframe. There are not many Australians worrying about their energy bills in 2035 – but even if they were, nuclear energy is unlikely to bring costs down then.
