Peter Dutton’s proposal for nuclear power in Australia would inflate electricity bills, stifle private sector investment and stall transition momentum, according to a report compiled by the Electrical Trades Union.
The report, which drew on expert research across industry and academia produced by engineers, economists, environmental scientists and energy market participants, has been mailed to more than 15,000 licensed electricians who hold ETU membership across Queensland ahead of Saturday’s state poll.
Analysing research from the CSIRO, Lazard, the AER, AEMO and the UN in addition to Australian and global universities the report finds:
- Energy bills would rise by more than $500 a year, consistent with the Institute for Energy Economics and Financial Analysis’ September 2024 finding of rises of up to $972 a year.
- The average cost overrun on nuclear projects globally is more than 100 percent – a cost ultimately borne by energy users including households.
- Nuclear would destroy many more jobs than it creates by displacing those created by energy transition momentum.
- Any nuclear commissioned today would not be online in time to meet unfilled demand as fossil fuel generators reach the end of their life.
- Serious questions remain around waste storage and water consumption – a 1Gw nuclear reactors consumes over 5000 Olympic swimming pools of water per year – nearly 100 times more than coal fired power.
Dutton’s ill-conceived policy pivot
The report carries endorsements from policy institute leader Emma Dawson, Clean Energy Finance Director Tim Buckley and Professor Jim Stanford from the Centre for Future Work.
ETU National Secretary Michael Wright said the union was concerned Australia would squander an energy transition jobs boom by embarking on an ill-conceived policy pivot.
‘Renewables and batteries in Australia are producing so much low-cost energy we are on track to hit climate targets. This will create nearly 100,000 more jobs for electricians by 2050,’ Mr Wright said.
‘Peter Dutton’s pursuit of high-cost nuclear with decades-long timelines would destroy job opportunities for our members now and into the future.’
ETU Queensland Secretary Peter Ong said Queenslanders should be able to raise questions about the plan ahead of the state election.
‘We have heard very little about this plan from the state LNP Opposition during the campaign,’ Mr Ong said. ‘That’s a disgrace. It is the brainchild of a Queensland-based federal opposition leader who wants to put more nuclear power plants in Queensland than any state.
‘People have every right to ask how much this is going to add to their power bills, how many electrical jobs the plan will destroy, where the LNP think we will get the water for all of this,’ he said.
‘They deserve to ask why it could possibly be worth it.’
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