The Hon Chris Bowen MP
Minister for Climate Change and Energy
Peter Dutton is gambling Australia’s energy and economic security by pausing the delivery of reliable renewables and instead promising untested, uncosted and experimental nuclear reactors across Australia.
After having promised details for more than 687 days, Peter Dutton and the Coalition’s undercooked announcement has left more questions than answers, hiding details on how much taxes and bills would rise, and on the size of their seven risky reactors.
These are the facts: Nuclear energy is too slow to keep the lights on, too expensive to build and too risky for Australia’s energy needs.
Even under their own optimistic scenario, the Coalition confirmed today they won’t get their first nuclear reactor up and running until 2035 to 2037, risking 13 years of rolling black outs as they abandon reliable renewables.
CSIRO figures show that the cost of power from nuclear reactors is up to 8 times more expensive than firmed renewables and that the cost of single plans is as high as $16 billion.
Peter Dutton must explain why he won’t be upfront and honest with Australians about how much this is going to cost. All we know is that energy bills and taxes will rise to pay for the Coalition’s risky nuclear plan.
Australia doesn’t have the time to risk the slowest and most expensive form of energy. 24 coal plants announced their closure dates when the Coalition where last in government, and 90% of Australia’s coal-fired power is forecast to close by 2035.
The Albanese Government is delivering on its Reliable Renewables plan—this is the only plan supported by experts to deliver the clean, cheap, reliable and resilient energy system that Australians deserve.
It’s supported by independent advice from the CSIRO and the Australian Energy Market Operator that the lowest-cost plan for a reliable energy grid is Australia’s world-leading renewables like solar and wind, firmed up with batteries, pumped hydro, flexible gas and transmission.
Renewables are the cheapest form of energy, and getting more renewables in our power system will bring prices down. Cheap power is why one in three Australian households and small businesses are choosing solar.
Under Labor, we’ve had a 25% increase in renewables in the national grid, record investment in batteries and storage and over 330,000 rooftop solar installations last year alone. We’ve approved more than 50 renewable projects since the last election, and we’re already halfway to meeting our 2030 renewables target in the national grid.
As at 19 June 2024.
