The Institute for Energy Economics and Financial Analysis (IEEFA) has released a report detailing the significant cost overruns and delays experienced by recent nuclear power projects worldwide, casting doubt on Peter Dutton’s claims that Australia could avoid similar issues.
‘In the absence of any costings since Peter Dutton launched his nuclear plan in June, IEEFA began researching the costs of nuclear power .’‘In the absence of any costings since Peter Dutton launched his nuclear plan in June, IEEFA began researching the costs of nuclear power .
We found that recent nuclear projects in economies comparable to Australia faced significant cost overruns and delays with multibillion-dollar consequences. All projects commencing construction in the past 20 years in comparable economies experienced major budget blowouts up to three-and-a-half times original capital costs and construction delays of many years.
For larger households, the increase would be even more pronounced. A four-person household could pay $972 more a year on average across scenarios, and for even larger households, bills might rise by $1,182.
Nuclear Power Cost Overruns Peter Dutton IEEFA Australia
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