Coalition's Nuclear Plan Costs $331 Billion

Opposition Leader Peter Dutton has proposed a nuclear energy plan for Australia, claiming it will reduce electricity costs by $263 billion compared to the Labor government's renewables-focused approach. The Coalition's strategy would involve generating 38% of electricity from nuclear energy and 54% from renewables by 2050, with an estimated cost of $331 billion, according to Frontier Economics. Dutton argues this plan will provide more reliable electricity and support the country's economic success while aiding in decarbonization. However, experts, including CSIRO, have criticized the assumptions behind this modeling, suggesting that nuclear energy could be more expensive and less feasible than projected. The plan includes building seven nuclear reactors at existing coal plant sites, with the first expected to be operational by the mid-2030s. Critics are concerned that the initiative overlooks the rising demand for electricity and the need for significant changes in legislation regarding nuclear energy.