Nuclear power is going to be a big issue at the next federal election. The Coalition is bound to tell us that the French rely on nuclear for two-thirds of its power generation and consumers there pay A$49 a megawatt.
Based on 51% coal and 33% solar, what do we pay?
Try A$105 a megawatt!
This $49 for nuclear and $105 for non-nuclear will be rammed down voters throats by the Coalition’s Peter Dutton, while Labor will tell us that the nuclear numbers are rubbery figures.
It comes as The Daily Telegraph tell us that “…about 82 per cent of Australians are ‘concerned’ about power prices, with more than 45 per cent “very concerned,” according to a Nielsen survey released in July.”
So, who’s telling the truth?
The test will be based on this revelation in The Daily Telegraph today: “Former Australian Nuclear Science and Technology Organisation boss Adi Paterson said that in France, where nuclear makes up 66 per cent of the grid, households paid 31 euros per megawatt hour – or A$49 – as of July 11.”
He cited research from Germany and Texas that showed:
- The cost per megawatt hour for solar power went up by 40 times if that was the grid’s only source of power.
- The longer lifespan of a nuclear power plant would help to offset upfront capital costs compared to wind and solar.
- Nuclear power plants in France today will operate for at least 60 years, and they’re working with regulators to see if they can extend them for 80 years.
- By contrast, solar panels are guaranteed for 10 years. You can stretch them for 20 to 30 years but after that they’re toast.
Peter Dutton is promising seven nuclear plants, with the first to be built by 2037. He argues we need a system not dependent on the weather, that works 24/7 and is good for zero emissions. However, Chris Bowen, Labor’s Minister for Climate Change and Energy, ridiculed the Coalition’s attempt to sell nuclear as an immediate solution to the cost-of-living crisis when the first reactor was more than a decade away.
Supporting the Bowen argument is the analysis in the CSIRO’s Gencost report. The report found that by 2030 electricity from a combination of solar and wind would be between $73 and $128 megawatts per hour.
This report also revealed that the upfront cost of a nuclear power plant is very expensive, with the capital cost of a large-scale nuclear plant in Australia too expensive to justify an investment in such a big power project.
Who wins the political battle ahead will be based on who best explains what will happen to our power bills in the short term and the longer term and whether voters will support nuclear as a cheaper longer-term solution, even if power bills remain high in the short term.
