www.ieefa.org 2 Contents • Key findings • The 6 scenarios • Electricity bill impacts • Impact of nuclear costs on electricity bills • Costs of recent nuclear projects www.ieefa.org 3 Key findings 4 Key findings • IEEFA analysed six scenarios based on relevant international examples of nuclear power construction projects; in every scenario, bills increased by hundreds of dollars. [...] • The bill increase for typical households was as low as AUD260 based on the anticipated cost of a new nuclear plant in the Czech Republic, and up to AUD1,259 based on the costs of Hinkley Point C in the UK, currently under construction. [...] • For households that use more electricity, bills could rise more – for a four-person household, the bill rise was found to be AUD972/year on average across nuclear scenarios and regions • The cost of electricity generated from nuclear plants would likely be 1.5-3.8 times the current cost of electricity generation in Eastern Australia. [...] The contract by KHNP to build the Korean APR reactors in Czech Republic is likely to be more comparable to the Australian context, with costs on par with the Olkiluoto reactor in Finland. [...] o Nuclear capacity factor would likely decline over time as renewables penetration increases ▪ A discount rate of 6% despite the high financial risks associated with nuclear ▪ No cost to account for the absence of pre-existing capability & legislation in Australia www.ieefa.org 24 Key takeaways • Based on comparable real-life examples, nuclear would increase the cost of electricity generation in A.
- Pages
- 33
- Published in
- United States of America
Table of Contents
- Slide 1: Nuclear in Australia would increase household power bills 1
- Slide 2 2
- Slide 3: Contents 3
- Slide 4: Key findings 4
- Slide 5: Key findings 5
- Slide 6 6
- Slide 7: The 6 scenarios 7
- Slide 8: The Coalition has proposed to build nuclear power plants in 7 locations coinciding with coal power plants 8
- Slide 9: We calculated potential electricity bill impacts of this plan based on 6 recent real-world international examples 9
- Slide 10: We focused on countries which had transparent data and similar conditions to Australia 10
- Slide 11: We excluded South Korea from our sample as not comparable 11
- Slide 12: No licensed SMR designs or operational projects in the OECD – little relevant cost data on SMRs 12
- Slide 13: Electricity bill impacts 13
- Slide 14 14
- Slide 15 15
- Slide 16: Impact of nuclear costs on electricity bills 16
- Slide 17 17
- Slide 18 18
- Slide 19 19
- Slide 20: Costs of recent nuclear projects 20
- Slide 21 21
- Slide 22 22
- Slide 23 23
- Slide 24 24
- Slide 25: Key takeaways 25
- Slide 26: Appendix Nuclear costs 26
- Slide 27 27
- Slide 28 28
- Slide 29 29
- Slide 30 30
- Slide 31: Appendix Current electricity bills 31
- Slide 32 32
- Slide 33: Contact 33
