Climate Change Minister Chris Bowen has slammed the Coalition's proposal to refit retiring coal-fired power stations with nuclear technology after his department put the cost of the plan at $387 billion.
The Coalition wants nuclear technology to play a role in the nation's energy transition and, according to reports, is planning to incorporate nuclear power in its 2025 election policy.
In a speech to conservative think tank Institute of Public Affairs in July, Opposition Leader Peter Dutton suggested fitting coal-fired plants with small modular nuclear reactors (SMRs), proposing nuclear power as a "cost-effective" and reliable option to bring into the energy mix and aid the nation's transition to net zero.
On Sunday, Mr Bowen denounced Mr Dutton's plan as "nothing but a con".
His department released fresh analysis that found replacing the retiring the 21.3 GW coal fleet would require at least 71 small modular reactors with a power capacity of up to 300 MW.
The report puts the capital cost of a kW at $18,167 for SMRs in 2030. In comparison, it estimates the cost of large-scale solar at $1058 per kW, and onshore wind at $1989 per kW
The analysis, which is based on data from the Australian Energy Market Operator and CSIRO's 2022-23 GenCost report and current policies, totalled the cost at $387 billion. According to the modelling, that's $25,000 for every tax payer.
Mr Bowen said the Opposition wanted "to trump the benefits" of non-commercial SMR technology "without owning up to the cost and how they intend to pay for it".
"After nine years of energy policy chaos, rather than finally embracing a clean, cheap, safe and secure renewable future, all the Coalition can promise is a multi-bullion dollar nuclear-flavoured energy policy," he said.
