Australian nuclear debate describes Western cost problem

The cost-viability of new nuclear power plants comes down to state backing, especially on finance, interest, and payback times – one way or another. That makes the pursuit of nuclear power even more of a crude political decision – or at least more openly and controversially so – than with the other energy types. A recent spat between the Institute for Energy Economics and Financial Analysis (IEEFA) and Australia’s Liberal Party opposition has brought this political conflict into sharp focus. First, IEEFA published this report, aimed at forecasting the cost to households ($444 USD per year) if seven nuclear plants were built in Australia as the Liberal Party has proposed – a mix of SMRs and large reactors. IEEFA’s cost…