Reports from Australian energy regulatory bodies and consumer energy bill data

Dutton's $331B Nuclear Plan Promises $263B Savings, Energy Bill Reduction, Despite CSIRO Report

Dec 13, 2024, 01:12 AM

Opposition Leader Peter Dutton has unveiled a $331 billion plan to transition Australia's energy grid towards nuclear power, claiming it would be $263 billion cheaper than the government's renewable energy policy. The Coalition's plan involves building seven nuclear reactors at the sites of end-of-life coal-fired power plants, aiming to provide a reliable and consistent energy supply. Dutton argues that this approach will reduce energy bills by 44% and help Australia decarbonize its economy. However, the plan has been met with skepticism from experts and the government. The CSIRO's GenCost 2024-25 report indicates that nuclear energy would be 1.5 to two times more expensive than large-scale solar, and extending coal power station operations would increase carbon emissions. Critics, including Energy Minister Chris Bowen, have dismissed the Coalition's costings as unrealistic, pointing out that the plan underestimates costs, timelines, and the infrastructure needed for nuclear power. The government's plan aims for 82% renewable energy by 2030 and over 90% by 2050, with the remainder from storage and gas.