Peter Dutton believes he has found a politically saleable energy formula. It includes the now familiar condemnation of Labor’s “reckless” policy and warnings of catastrophic consequences in making power “exorbitantly expensive and the grid unreliable”. The shiny new element is the Coalition’s commitment to establishingThat is certainly a radical shift in a country where a ban on nuclear power has been part of the policy furniture for decades.
What happens to investment confidence if business, including foreign investors, must contemplate at least the possibility of another major energy policy change under a Prime Minister Dutton? “As you reduce emissions, you’ve got to be technology-agnostic,” he told The Australian Financial Review Business Summit. “You’ve got to go for the most cost-effective and the best outcome for the stability of the grid.
The opposition’s claim a nuclear power plant could be built in a decade is contradicted by all the evidence offshore as well as Australia’s own lamentable record in delivering large-scale energy projects on schedule.That’s despite the massive price tag for connecting renewables and transmission lines that is only just beginning to be appreciated by most consumers. Exhibit A is the latest estimate of delivering pumped hydro from the also delayed Snowy 2.
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