The federal opposition is proposing nuclear as a solution to Australia’s urgent need for new energy generation.Credit:AP
The federal opposition,which wants Australia to overturn its longstanding ban on nuclear energy,claims small modular reactors – the next generation of nuclear power plants – are the only viable backup for renewable energy as the country transitions away from fossil fuels.
But Climate Change and Energy Minister Chris Bowen said NuScale’s announcement was further proof that small modular reactors were not viable for Australia.
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“The opposition’s only energy policy is small modular reactors,” Bowen said. “Today,the most advanced prototype in the US has been cancelled. The[opposition’s] plan for energy security is just more hot air from Peter Dutton.”
NuScale’s small modular reactor design was the first to be approved by the US Nuclear Regulatory Commission in January. It was awarded more than $US1 billion ($1.56 billion) in government funding to support its development.
The company said in 2021 it would supply power from its small modular reactor plant for $US58 a megawatt hour. Since then,that figure has more than doubled to $US89 a megawatt hour.
Mason Baker,the chief executive of NuScale’s government-owned partner,Utah Associated Municipal Power Systems,said it was working with the company and the US Department of Energy to wind down the project.