¶ NUCLEAR small modular reactors (SMRs) are the most costly new-build energy technology, according to the final 2024-25 GenCost report.
The report, prepared by CSIRO in collaboration with the Australian Energy Market Operator, found that renewables, such as wind and solar, backed by storage and transmission remain the cheapest option.
Gas with carbon capture and storage, and large-scale nuclear were found to be the next lowest-cost options.
The Federal Opposition proposed development of nuclear power plants at seven sites around the country, including an SMR in Collie, in the lead up to May’s federal election.
However, the report found SMRs remain the highest cost option, even taking into consideration data from Canada’s Darlington New Nuclear Project, representing the first commercial-scale benchmark from a western country.
Whether to continue pursuing a nuclear policy remains a point of contention within the Coalition following Labor’s comprehensive victory.
After the election, reelected member for O’Connor Rick Wilson said Collie should remain in the discussion for development of a nuclear plant
Mr Wilson said Labor’s “scare campaign” did not resonate with Collie voters.
“I will be fighting, at the very minimum, for a future Coalition government to remove the nuclear moratorium,” he said.
“I’ll be advocating that our policy allows the investigation of SMR technology to proceed.
“Because of the transmission infrastructure, Collie will always be at the front and centre of those sorts of conversations.”