Nuclear Power in Australia
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Questions and Answers

What is the estimated capacity of the five coal-fired generators that will likely be retired by 2035?

  • 10 gigawatts (correct)
  • 20 gigawatts
  • 5 gigawatts
  • 15 gigawatts

    • What is the purpose of the 'levelised cost of electricity' metric?

  • To estimate the number of power stations needed
  • To compare the costs of different energy technologies (correct)
  • To measure the environmental impact of a technology
  • To determine the capacity factor of a technology

    • What is the expected capacity factor of a nuclear power station?

  • 80-90%
  • 20-25%
  • 50-60%
  • 90-95% (correct)

    • What is the projected cost of large-scale nuclear generated electricity by 2040?

    <p>$136-$226 per megawatt-hour</p> Signup and view all the answers

    What is the proposed action by the Coalition government regarding nuclear power stations?

    <p>Building 7 nuclear power stations over 15 years</p> Signup and view all the answers

    What might happen to the existing coal-fired fleet by 2035?

    <p>50-60% of them will be retired</p> Signup and view all the answers

    Why is the capacity factor of a solar farm typically lower than that of a nuclear power station?

    <p>Because it is night for half of the time and cloudy some of the time</p> Signup and view all the answers

    What is the current estimated cost of large-scale nuclear generated electricity?

    <p>$155-$252 per megawatt-hour</p> Signup and view all the answers

    What is the estimated cost of the Hinkley Point C nuclear plant in the United Kingdom?

    <p>£34 billion</p> Signup and view all the answers

    According to the CSIRO's GenCost report, what is the estimated levelised cost of electricity produced from coal?

    <p>$100-200 per megawatt-hour</p> Signup and view all the answers

    What is the estimated cost of solar and wind energy per megawatt-hour?

    <p>$60-90 per megawatt-hour</p> Signup and view all the answers

    Why would a mix of wind and solar energy and storage cost around $100-120 per megawatt-hour?

    <p>Because of the cost of getting the renewable energy into the grid</p> Signup and view all the answers

    What is the estimated cost of a nuclear-based system per megawatt-hour?

    <p>Three to four times the cost of coal or gas</p> Signup and view all the answers

    What would be the main component of a household energy bill under the nuclear scenario?

    <p>The cost of transmission and distribution</p> Signup and view all the answers

    How would a large energy consumer such as an aluminium smelter be affected by the increased cost of electricity generation?

    <p>They would pay more per kilowatt-hour because of the increased cost of generating electricity</p> Signup and view all the answers

    Why would a nuclear-based system be unlikely to be competitive in a free market?

    <p>Because of the high cost of nuclear power</p> Signup and view all the answers

    What would be the impact on Australian industry if the cost of electricity generation were to increase significantly?

    <p>It would lead to a significant increase in energy costs for industry</p> Signup and view all the answers

    What is the main reason why the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?

    <p>Because of a combination of factors including higher local wages, regulations and standards, and aversion from lenders to risk</p> Signup and view all the answers

    What is the estimated cost of the Hinkley Point C nuclear plant in the United Kingdom?

    <p>£34 billion</p> Signup and view all the answers

    Wind and solar energy are dispatchable sources of energy.

    <p>False</p> Signup and view all the answers

    Why would a nuclear-based system be unlikely to be competitive in a free market?

    <p>Because it would likely be three to four times more expensive than other options, making it uncompetitive.</p> Signup and view all the answers

    In a nuclear-based system, the cost of getting the power from the power stations to your home or business is approximately _________ of your energy bill.

    <p>25-30 cents per kilowatt-hour</p> Signup and view all the answers

    Match the energy sources with their estimated levelised cost of electricity:

    <p>Coal = $100-200 per megawatt-hour Gas = $120-160 per megawatt-hour Solar and Wind = $60 and $90 per megawatt-hour, respectively Nuclear = £34 billion (about A$65 billion)</p> Signup and view all the answers

    What would be the impact on Australian industry if the cost of electricity generation were to increase significantly?

    <p>It would be a severe cost burden</p> Signup and view all the answers

    The cost of transmission and distribution would be significantly different under the nuclear scenario compared with the current system.

    <p>False</p> Signup and view all the answers

    Why would the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?

    <p>Because of the lack of a nuclear industry in Australia, leading to higher costs for importing expertise and infrastructure.</p> Signup and view all the answers

    A large energy consumer such as an aluminium smelter would pay approximately _________ per kilowatt-hour under the nuclear scenario.

    <p>40-50c</p> Signup and view all the answers

    What is the main component of a household energy bill?

    <p>The cost of transmission and distribution</p> Signup and view all the answers

    What is the estimated capacity of the seven nuclear power stations proposed by the Coalition?

    <p>10 gigawatts</p> Signup and view all the answers

    The cost of nuclear power in Australia is likely to be lower than the estimated cost of large-scale nuclear generated electricity by 2040.

    <p>False</p> Signup and view all the answers

    What is the main factor that affects the capacity factor of a solar farm?

    <p>night time and cloudy weather</p> Signup and view all the answers

    The CSIRO's GenCost report outlines the current and projected build and operational costs for a range of energy ___________.

    <p>technologies</p> Signup and view all the answers

    What is the main reason why the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?

    <p>Unconsidered cases where costs have blown out dramatically</p> Signup and view all the answers

    The Australian Energy Market Operator has run modelling scenarios to delve into the details of what might happen to electricity prices under a high-uptake nuclear scenario.

    <p>False</p> Signup and view all the answers

    Match the following energy technologies with their capacity factors:

    <p>Nuclear power station = 90–95% Solar farm = 20–25% Coal-fired generator = 80–90% Wind farm = 30–40%</p> Signup and view all the answers

    What is the purpose of the 'levelised cost of electricity' metric?

    <p>To take into account the capacity factor of a technology</p> Signup and view all the answers

    Study Notes

    Nuclear Power in Australia

    • Coalition government proposes building 7 nuclear power stations over the next 15 years
    • Experts claim nuclear power would be expensive and slow to build

    Existing Coal-Fired Fleet

    • By 2035, 50-60% of coal-fired fleet will be retired, including 5 generators with 10 gigawatts capacity
    • 7 proposed nuclear plants would contribute roughly 10 gigawatts of capacity

    Levelised Cost of Electricity

    • Takes into account capacity factor (how much electricity a technology produces)
    • Capacity factor: nuclear (90-95%), solar farm (20-25%)
    • CSIRO's GenCost report: nuclear electricity would cost 155−252/MWh,fallingto155-252/MWh, falling to 155−252/MWh,fallingto136-226/MWh by 2040

    Cost of Nuclear Power

    • CSIRO's GenCost report based on recent projects in South Korea, does not consider cost blowouts
    • Hinkley Point C nuclear plant in UK: cost around £34 billion (A65billion),A65 billion), A65billion),A20,000/kW
    • CSIRO's assumption: $8,655/kW, true cost may be twice as expensive

    Other Factors Affecting Nuclear Power

    • Australia lacks nuclear industry, requiring imported expertise
    • Large infrastructure projects often experience cost blowouts
    • Local wages, regulations, and standards increase costs

    Comparison of Energy Costs

    • Coal: $100-200/MWh
    • Gas: $120-160/MWh
    • Solar and wind: $60-90/MWh
    • Renewable energy with storage and grid integration: $100-120/MWh
    • Nuclear (supplemented by gas): potentially 3-4 times more expensive than coal

    Impact on Household Energy Bill

    • Current retail tariffs: 25-30 cents/kWh ($250-300/MWh)
    • Transmission and distribution costs will not change significantly under nuclear scenario
    • Retail tariff under nuclear scenario: 40-50c/kWh
    • Large energy consumers (e.g., aluminium smelters) would be severely affected by increased energy costs

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    Description

    Explore the feasibility of building nuclear power stations in Australia, estimating the cost and impact on energy prices, and understanding the context of coal-fired fleet retirement.

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