Podcast
Questions and Answers
What is the estimated capacity of the five coal-fired generators that will likely be retired by 2035?
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?
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?
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?
What is the projected cost of large-scale nuclear generated electricity by 2040?
What is the proposed action by the Coalition government regarding nuclear power stations?
What is the proposed action by the Coalition government regarding nuclear power stations?
What might happen to the existing coal-fired fleet by 2035?
What might happen to the existing coal-fired fleet by 2035?
Why is the capacity factor of a solar farm typically lower than that of a nuclear power station?
Why is the capacity factor of a solar farm typically lower than that of a nuclear power station?
What is the current estimated cost of large-scale nuclear generated electricity?
What is the current estimated cost of large-scale nuclear generated electricity?
What is the estimated cost of the Hinkley Point C nuclear plant in the United Kingdom?
What is the estimated cost of the Hinkley Point C nuclear plant in the United Kingdom?
According to the CSIRO's GenCost report, what is the estimated levelised cost of electricity produced from coal?
According to the CSIRO's GenCost report, what is the estimated levelised cost of electricity produced from coal?
What is the estimated cost of solar and wind energy per megawatt-hour?
What is the estimated cost of solar and wind energy per megawatt-hour?
Why would a mix of wind and solar energy and storage cost around $100-120 per megawatt-hour?
Why would a mix of wind and solar energy and storage cost around $100-120 per megawatt-hour?
What is the estimated cost of a nuclear-based system per megawatt-hour?
What is the estimated cost of a nuclear-based system per megawatt-hour?
What would be the main component of a household energy bill under the nuclear scenario?
What would be the main component of a household energy bill under the nuclear scenario?
How would a large energy consumer such as an aluminium smelter be affected by the increased cost of electricity generation?
How would a large energy consumer such as an aluminium smelter be affected by the increased cost of electricity generation?
Why would a nuclear-based system be unlikely to be competitive in a free market?
Why would a nuclear-based system be unlikely to be competitive in a free market?
What would be the impact on Australian industry if the cost of electricity generation were to increase significantly?
What would be the impact on Australian industry if the cost of electricity generation were to increase significantly?
What is the main reason why the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?
What is the main reason why the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?
What is the estimated cost of the Hinkley Point C nuclear plant in the United Kingdom?
What is the estimated cost of the Hinkley Point C nuclear plant in the United Kingdom?
Wind and solar energy are dispatchable sources of energy.
Wind and solar energy are dispatchable sources of energy.
Why would a nuclear-based system be unlikely to be competitive in a free market?
Why would a nuclear-based system be unlikely to be competitive in a free market?
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.
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.
Match the energy sources with their estimated levelised cost of electricity:
Match the energy sources with their estimated levelised cost of electricity:
What would be the impact on Australian industry if the cost of electricity generation were to increase significantly?
What would be the impact on Australian industry if the cost of electricity generation were to increase significantly?
The cost of transmission and distribution would be significantly different under the nuclear scenario compared with the current system.
The cost of transmission and distribution would be significantly different under the nuclear scenario compared with the current system.
Why would the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?
Why would the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?
A large energy consumer such as an aluminium smelter would pay approximately _________ per kilowatt-hour under the nuclear scenario.
A large energy consumer such as an aluminium smelter would pay approximately _________ per kilowatt-hour under the nuclear scenario.
What is the main component of a household energy bill?
What is the main component of a household energy bill?
What is the estimated capacity of the seven nuclear power stations proposed by the Coalition?
What is the estimated capacity of the seven nuclear power stations proposed by the Coalition?
The cost of nuclear power in Australia is likely to be lower than the estimated cost of large-scale nuclear generated electricity by 2040.
The cost of nuclear power in Australia is likely to be lower than the estimated cost of large-scale nuclear generated electricity by 2040.
What is the main factor that affects the capacity factor of a solar farm?
What is the main factor that affects the capacity factor of a solar farm?
The CSIRO's GenCost report outlines the current and projected build and operational costs for a range of energy ___________.
The CSIRO's GenCost report outlines the current and projected build and operational costs for a range of energy ___________.
What is the main reason why the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?
What is the main reason why the cost of nuclear power in Australia may end up being twice as expensive as CSIRO has calculated?
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.
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.
Match the following energy technologies with their capacity factors:
Match the following energy technologies with their capacity factors:
What is the purpose of the 'levelised cost of electricity' metric?
What is the purpose of the 'levelised cost of electricity' metric?
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.
