“Chernobyl” is scary. The costs of nuclear power are even more scary

What’s more chilling: watching Chernobyl or cogitating on the cost of going nuclear? Michael West Investigative Journalism Jun 20, 2019,  The sudden push by the Murdoch media and Coalition right-wingers to overturn Australia’s nuclear power ban ignores the chilling economic cost —  huge public subsidies, storing radioactive waste for thousands of years, the heavy costs of decommissioning and, potentially, radiation-related health costs. Veteran nuclear writer Noel Wauchope reports on the popular TV series, Chernobyl, and the economics of nuclear power.

THE frightening TV miniseries “Chernobyl” could put a few Australians off the idea of nuclear power but nuclear economics might turn out to be the bigger scare.

It is bad news for the Minerals Council of Australia and nuclear lobbyists, that Chernobyl has now arrived on some Australian TV screens, but pro-nuclear advocates are continuing to push their campaign anyway.

The miniseries “Chernobyl” has just finished in Europe and USA, outdoing “Game of Thrones” in popularity. HBO’s Chernobyl topped film and TV database IMDB’s list of the greatest 250 TV shows of all time.  The first episode was screened on 12 June, 2019 in Australia, on Foxtel.

The series has had a big impact. It was highly praised by numerous reviewers but criticised by pro-nuclear lobbyists, and infuriated some Russian politicians. ………

The Coalition’s renewed push for nuclear power

In March this year, 11 Coalition MPs (Andrew Broad, James Paterson, Tony Pasin, Tim Wilson, Chris Back, Craig Kelly, Eric Abetz, Andrew Hastie, Warren Entsch, Bridget McKenzie and Rowan Ramsey) urged then Prime Minister Malcolm Turnbull to put nuclear power on the table as an electricity source for Australia. That call is now repeated by  Queensland and Coalition MPs calling for an inquiry into the feasibility of nuclear power in Australia.

Prime Minister Scott Morrison said he is open to considering nuclear power if it can stand on its own two feet. Energy Minister Angus Taylor told The Guardianon 12 June 2019 he wouldn’t rule out revising Australia’s nuclear ban “when there is a very clear business case which shows the economics of this can work”. Two days later, Environment Minister Sussan Ley also told TheGuardian she was open to the review considering a removal of the ban.

But — are the economics of nuclear power viable for Australia?

When even Australia’s former top nuclear promoter has doubts, it doesn’t look promising……….

How viable is nuclear power elsewhere?

Nuclear economics in America is really a tale of woe. You hardly know where to start, in trying to assess how much this industry is costing communities and tax-payers. There are the attempts to save the nuclear industry via subsidies. There are the continuing and ever-increasing costs of radioactive wastes.  There are the compensation payments to workers with radiation-caused illnesses, $15.5 billion and counting, and the legal battles over where to put the wastes. Needless to say, really, America is not initiating any new nuclear “big build”. The much touted “Small Modular Nuclear Reactors” are turning out to have no market and little prospect of being economically viable……

The UK nuclear industry is in the doldrums with repeated postponement of new projects – Hinkley Point C, Wylfa Newydd, Moorside, Sizewell C, Oldbury B and Bradwell B……The 2018 forecast for future clean-up of Britain’s aging 17 nuclear power stations has blown out to £121 billion which has had to be spread across the next 120 years……

France’s Flamanville nuclear project is taking years, remains bogged down with costly problems. Electricite de France (EDF)  has financial woes but hopes to save itself by switching from nuclear to renewables. France’s former nuclear giant AREVA went bankrupt and has changed its name to Orano and Framatome — and French tax-payers are still caught up in Areva/Orano costly legal corruption scandals.

Canada is up for increasing costs for managing its nuclear wastes. Interestingly, Canada abandoned its nuclear project for producing medical radioisotopes and now leads in non nuclear production of these isotopes.

India had grand plans for nuclear power, but has cut these back, and recently cancelled 57 reactors. It continues to have problems and many outages, at its huge Kudankulam nuclear station. ….

Russia keeps offering “generous” funding to the buyer countries. But will those countries end up with big debts? Reuters reports that in China“No new approvals have been granted for the past three years, amid spiralling costs” ………. https://www.michaelwest.com.au/whats-more-chilling-watching-chernobyl-or-cogitating-the-cost-of-going-nuclear/

 

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