Australia’s Stance on Nuclear Energy

Nuclear energy has never been part of Australia’s energy mix as the country has abundant renewable resources, according to Chris Bowen, Australia’s Minister for Climate Change and Energy.

In an interview with AsumeTech at the G20 energy ministers meeting in Goa, India, Bowen emphasized that he is not trying to dictate other countries’ energy choices. However, he pointed out that for Australia, nuclear energy presents various issues.

Bowen highlighted the high costs associated with nuclear energy and the generation of large amounts of waste. He also mentioned the inflexibility of this energy source. Moreover, since Australia has never had a nuclear industry, starting from scratch with this technology would be extremely challenging.

A Shift towards Gas and Renewable Energy

Australia is actively reducing its reliance on coal and increasing its dependence on gas as a transition fuel.

Bowen highlighted the flexibility of gas-fired power stations in comparison to coal-fired power stations, which can only operate continuously. He mentioned that negative prices occur frequently in Australia during the day, yet coal-fired power stations continue to produce electricity despite this. By contrast, gas-fired power stations can be easily turned on and off based on demand.

The country has already shut down one of its oldest coal plants, and another is set to halt operations in 2025. Bowen made it clear that these coal-fired power stations will not be replaced with new coal plants due to economic and environmental concerns.

Bowen stressed the importance of doubling down on investments in renewable energy, storage, and transmission to ensure a reliable energy supply.

Australia, with its abundant renewable resources, has a unique advantage. Harnessing these renewables and increasing their share in the energy mix is crucial for national security.

In recent years, Australia’s renewable energy sector has made significant progress. According to the Clean Energy Council, renewable energy accounted for 35.9% of the country’s total electric generation in 2022, more than double the share in 2017.

As a result of the increased focus on renewables, the demand for coal has decreased, with its share in electricity generation falling from 59.1% in 2021 to 54.6% in 2022. However, the production of gas has risen by 1.2% in 2022.

Investments and the Path to Net-Zero Goals

Bowen emphasized the need for sector-by-sector plans and increased investments to reach Australia’s net-zero goals.

He acknowledged the limited role the government can play and highlighted the importance of support and engagement from Australian businesses and international investors.

Looking ahead to the COP28 climate summit in Dubai, Bowen stated that Australia aims to work with like-minded countries to drive ambitious climate action and achieve the best possible outcome.