Nuclear power deemed Australia's most expensive energy source

It costs six times more than renewable projects.

The cost of nuclear power is six times higher than renewable energy, making it the most expensive energy source in Australia, according to a report by the Clean Energy Council (CEC) and Egis Review.

CEC Chief Executive Kane Thorton said pushing nuclear to replace renewables will “cause power prices to explode.”

“Nuclear power is also a poor fit with our increasingly renewable power system. Nuclear power stations are expensive and have to run constantly in order to break even,” Thornton added.

ALSO READ: Global nuclear generation up 1.8% in 2023, led by US and China

“But that doesn’t work in a world with an abundance of cheap renewables. Nuclear power stations aren’t designed to ramp up and down to match free energy from renewables – for that we need more energy storage,” he added.

Pushing for nuclear will also require taxpayers to pay higher prices to support the development of the nuclear industry from scratch.

The report added that small modular reactors are also not viable for the country as the technology is already outdated and flawed.

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