New modelling shows nuclear option will blow up Australian energy bills

Under the Coalition’s plan, IEEFA analysis found the median household electricity bill could rise by as much as $665 per year on average across regions.

This significant increase for households consuming a median amount of electricity is between $260 and $1259 per year, based on case studies of projected costs for nuclear reactors being built in the Czech Republic and the United Kingdom.

“Nuclear power is a high cost, high risk strategy for Australia,” said Clean Energy Council Co-Chief Policy & Impact Officer, Con Hristodoulidis.

“We know that the cost of pursuing a nuclear future over renewables would overwhelmingly be worn by working families and businesses across Australia, through much higher electricity bills,” he said.

Renewables now account for over 40 per cent of Australia’s total electricity supply, according to the latest Clean Energy Australia Report released in March 2024.

“Pivoting from renewables to nuclear is a costly experiment we can’t afford. Preventing power price spikes and blackouts is a problem to be confronted now, as coal-fired power stations exit our electricity system over the next decade,” Hristodoulidis said.

“Households cannot afford to wait decades for a technology that is ultimately a poor fit for Australia. Renewables paired with energy storage is the lowest-cost form of electricity supply, and it’s available now. We simply need to get on with building it as quickly as possible, in order to deliver the lowest cost electricity to households and business.”

ENDS

For more information or to arrange an interview, contact:

Liam Straughan
Clean Energy Council Media Officer
+61 409 470 683