Parliamentary inquiry finds nuclear is high risk, zero reward

Climate Council Media Release

THE COALITION’S NUCLEAR SCHEME is high risk, zero reward – that’s the clear takeaway from the interim findings of the federal inquiry into nuclear power generation in Australia. The committee’s interim report confirms that nuclear energy is not a viable option to meet Australia’s energy needs or climate commitments.

The Climate Council, which appeared at the inquiry, said the inquiry’s interim findings confirm what experts have long warned: nuclear reactors are too risky for Australia. Australians need action now to cut climate pollution and secure our energy future, not a nuclear fantasy that locks us into higher costs, worsening unnatural disasters, and decades of delay.

Amanda McKenzie, Climate Council CEO, said: “The climate crisis is here, now. Australians are already facing more unnatural disasters – record-breaking floods, deadly heatwaves and bushfires, and declining rainfall. In the 15 years that we would be waiting for a single watt of nuclear energy to enter the grid, our climate pollution would soar.

“Every coal-fired power station in Australia will be closed before a single nuclear reactor could be built. Already, 40% of our national grid is powered by renewables, and experts have shown that we can power our economy 24/7 with renewables backed by storage and peaking generation, and we can do it well before a single nuclear reactor is online.

“Delaying action to slash climate pollution has real consequences. The catastrophic conditions that led to the Black Summer bushfires will become the average without sustained, urgent action.

“Nuclear reactors in the 2040s is a delay tactic. The consequence is 2 billion tonnes more climate pollution endangering our kids’ future.”

Greg Bourne, Climate Councillor and energy expert, said: “The numbers don’t lie. Nuclear reactors are wildly expensive and painfully slow. The UK’s flagship nuclear project is 14 years late and facing a $60 billion cost blowout. Australians can’t afford to waste tens of billions of dollars on a major energy project that delivers too little, too late.

“There’s an explosion of misinformation and political spin, but here’s the simple truth: not a single investor is lining up to build nuclear reactors in Australia. Meanwhile, investment in renewable power is surging ahead. In 2024, investment in batteries soared, with new energy storage commitments nearly matching new generation. A total of 4 gigawatts of storage was committed, equivalent to the output of around 2,000 wind turbines. Globally, ten times as much money is flowing into renewable power as into nuclear reactors.”

“Renewable power is already delivering – cutting climate pollution, creating jobs, and keeping the lights on. Australia is at 40% renewables and on track for 82% renewable power in only five years. That will slash pollution and provide the energy security we need.”

 

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