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The Australian opposition has released energy plan modeling showing nuclear power could be up to 44% cheaper than current government projections, while forecasting that renewable generation will continue to dominate electricity production.
The Coalition has released its “Economic analysis of including nuclear power in the National Electricity Market (NEM)” report outlining its nuclear energy plan model, as researched by Australia-based economic consultancy Frontier Economics.
The report limits its cost analysis of nuclear power to Queensland, New South Wales, Victoria, Tasmania, and South Australia, using the Australian Energy Market Operator (AEMO) “Step Change” and “Progressive” scenarios as benchmarks.
Frontier Economics Managing Director Danny Price, the lead report author, said comparing nuclear costs with renewables isn’t comparing apples to apples.
“We’ve done the modeling in these AEMO scenarios with a wider, and more detailed lens on how the two options compare in real life, and the data speaks for itself,” Price said. “In both scenarios, including nuclear power in our energy mix is cheaper – by up to 44% – for Australians in the medium-term future.” |
