Nafty spoke about the importance of energy which is synonymous with power generation. Australia’s current energy mix is fossil fuels 60-65% and renewables 35-40%, compared with the world, fossil fuels 70%, renewables 20% and nuclear 10%. Australia has 20 coal fired power stations spread over every state except South Australia and Tasmania.

The plan is to replace these power stations with renewables, but there are major concerns about reliability and cost. For example the cost of the Snowy Scheme was estimated as $2B in 2017. The scheme is yet to be completed and the current estimated cost has risen to $40B.

Nafty said nuclear power was seen by many as dirty, dangerous and expensive. He showed that nuclear power generation and the three accidents caused less deaths than renewables, generates zero greenhouse gases and is competitive in price with renewables. The recent costing of nuclear power by CSIRO was flawed, based on the assumption a life of a nuclear reactor of 30 years while many existing plants have been running safely for over 70 years. Australia mines uranium to sell overseas, has ordered nuclear powered submarines but is closed in its thinking about nuclear power.

While Nafty did not answer the question he posed he gave us plenty of information to consider.

If anyone would like a copy of Nafty’s presentation please let me know at prbrown@tpg.com.au and I will forward a copy to you.