Nuclear power in Australia financially risky


Heavy taxpayer subsidies would be required to get privately owned nuclear power into operation in Australia unless the Government joins the Kyoto Protocol, according to David Uren, economics correspondent of The Australian (29 May 2006, p.2).

Building and running subsidies needed: A report prepared for the Australian Nuclear Science and Technology Organisation (ANSTO) finds the Government would have to foot 21.4 per cent of electricity bills for the first 12 years and contribute to the cost of building the plant.

Financial risk high: "If the owner takes the entire financial risk, then the nuclear station produces electricity at a cost that is significantly higher than would a new coal-fired or gas turbine power station," the report, commissioned from a British scientist, says. It appears to undermine the Government’s push for a fresh debate on nuclear power in Australia.

The Australian, 29/5/2006, p. 2

Source: Erisk Net

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