Energy executives, fund managers and investors do not think nuclear energy is financially viable in Australia.Australia's climate wars are heating up again, with the nation's future energy mix looking potentially radioactive.
Essentially, the argument is that the free market and private investors will decide to back nuclear because it will guarantee a return on investment. "However we will continue to watch progress with any emerging technologies that may be able to contribute to emissions reduction over time."When he addressed the Press Club in April, Mr Dimery compared the federal opposition's plans to replace coal plants with nuclear power to
"We cannot let politicians, trying to use a point of difference to get elected at any cost, set our country back when we have such a huge opportunity in front of us." "If you look at where the nuclear facilities are being built globally, they're almost in all cases being built by governments," said Mr Mangini, who manages $110 billion worth of energy and infrastructure investments in his role."And that's just the beginning; a nuclear facility would need a very long-dated sales contract to sell the power – something like 30 years at a fixed price. That doesn't exist in this market.
Worldwide, nuclear construction projects have had a tendency to experience lengthy delays and cost blowouts.Data from the International Energy Agency shows that, on average, China's nuclear reactors since 2007 have taken two years longer-than-expected to build. While in North America, the delay has been the longest at more than six years.
The world's energy consumption is expected to skyrocket in the coming decades, particularly due to increasing use of electric cars, artificial intelligence and data centres.
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