Nuclear extra expensive and may ‘sound the demise knell’ for Australia’s decarbonisation efforts, record says

Nuclear extra expensive and may ‘sound the demise knell’ for Australia’s decarbonisation efforts, record says

Analysis from Bloomberg New Energy Finance says even if nuclear is successfully implemented it would be ‘at least four times’ more expensive than average cost of renewables

• Follow our Australia news live blog for latest updates
• Get our morning and afternoon news emails, free app or daily news podcast

A nuclear-powered Australian economy would result in higher-cost electricity and would “sound the death knell” for decarbonisation efforts if it distracts from renewables investment, a report by Bloomberg New Energy Finance (BNEF) argues.

The report comes as ANZ forecast September quarter power prices will dive as much as 30% once government rebates kick in. A separate review by the market watchdog has found household energy bills were 14% lower because of last year’s rebates.

Continue reading…