Energy Minister Chris Bowen has released new analysis which shows replacing coal fired plants with nuclear could cost the country $387 billion.
In a direct response to Opposition Leader Peter Dutton's push for nuclear power to form part of the transition to net zero, Mr Bowen claimed the research showed such a push flew in the face of"economics and reason".
According to the analysis, which is based on modelling from the 2022-23 GenCost report developed by the CSIRO and AEMO, it would take the construction of 71 nuclear power plants to fully replace the 21,300 megawatts of electricity produced by existing coal power stations. The GenCost report found capital costs for large-scale solar and onshore wind projects would be $1,058/kW and $1,989/kW, respectively, in 2030, significantly lower than the nuclear option.
Speaking to Sky News Australia on Monday, Nationals MP Keith Pitt labelled the government's claims a"stunt" and flagged there were inconsistencies in the report which meant any analysis was unreliable.
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