The Australian Energy Council has welcomed the tentative findings of the Royal Commission into the Nuclear Fuel Cycle.
The Royal Commission correctly identified that nuclear energy would not be commercially viable under the existing market conditions, but that it may be necessary as part of Australia’s energy system as we shift to a low greenhouse gas emissions future.
The tentative findings of the Royal Commission suggest it “would be wise to plan now to ensure that nuclear power would be available should it be required”.
The Australian Energy Council’s Chief Executive, Matthew Warren, said “it is important to rationally consider all technologies that may be required to address the challenge of supplying clean, affordable and reliable energy in the 21st Century.
“The Royal Commission considered the challenge of investing in new electricity generation technology in Australia and correctly assessed that in the current environment it would not be commercially viable to generate from a nuclear plant.
“We currently have an oversupplied electricity market and tough investment conditions that make any new generation investment virtually unbankable.
“But conditions change. The electricity industry is already undergoing significant change to reduce emissions while adopting new technologies and maintaining an affordable and reliable supply for consumers.
“It is sensible to keep all options open, including nuclear power. What we don’t want to do is impede our ability to move quickly to a clean source of power, as we transition to a low emissions energy sector,” Mr Warren said.
About the Australian Energy Council
The Council represents 22 major electricity and downstream natural gas businesses operating in competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia and sell gas and electricity to over 10 million homes and businesses.
The Australian Energy Council has welcomed the release of the Energy Security Board's options paper,which is the result of a substantial consultation process.
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