Nuclear power a practical option for Australia.


The review was established to examine uranium mining, value-added processing and the contribution of nuclear energy in Australia in the longer term. It is intended to provide a factual base and an analytical framework to encourage informed community discussion. The draft report provides an opportunity for the public to comment on the task force’s findings.
The task force examined the capacity for Australia to increase uranium mining and exports. As a holder of substantial reserves (38 per cent of known low cost global reserves) and producer of uranium (23 per cent of global production), Australia is well positioned to meet growing market demand. Value adding to Australia’s resources is possible and could be worth $1.8 billion annually. However, this is not without its challenges.
Australia’s demand for electricity will more than double before 2050. More than two-thirds of existing electricity generation will need to be substantially upgraded or replaced and new capacity added. This additional capacity will need to use near-zero greenhouse gas emitting technology if Australia is just to keep greenhouse gas emissions at today’s levels.
On average, nuclear power would be 20–50 per cent more expensive than coal in Australia but can become competitive with fossil fuel-based generation in Australia with the introduction of low to moderate pricing of carbon dioxide emissions.
Nuclear power has a low emissions signature. Although the priority for Australia should continue to be to reduce carbon dioxide emissions from coal and gas, the task force sees nuclear power as a practical option for Australia.
The handling and storage of radioactive waste was an issue often raised in submissions. The safe disposal of low and intermediate-level waste is practised today at many sites around the world. Australia has suitable locations for deep underground repositories for the safe storage of high level waste and spent nuclear fuel.
Many Australians associate nuclear power with the accidents at Three Mile Island and Chernobyl. The task force visited these sites and found that while the health and safety legacy from Chernobyl is real, the nuclear industry is far safer than other energy-related industries. However, no industry is risk-free.
Nuclear weapons proliferation is another issue of concern to the public. Increased Australian involvement in the nuclear fuel cycle would not change the risks. It is clandestine activity that is likely to lead to the production of nuclear weapons, not civil nuclear activities.
Nuclear power today is a mature, safe, and relatively clean means of generating baseload electricity. Nuclear power is an option that Australia should seriously consider if it is to meet its growing energy demand and reduce its greenhouse gas signature.