Energy Minister Chris Bowen says he’s happy to take expert advice after the nation’s top science agency had a second go at working out the cost of competing forms of energy.
Opposition Leader Peter Dutton has accused the nation’s top science agency of bending to political influence in its latest findings on the cost of nuclear energy, after the CSIRO’s latest report found the controversial technology is at least 50 per cent more expensive than renewables.
However, CSIRO accommodated these requests and still found the cost of nuclear energy was significantly higher than renewables. Bowen hit back at Dutton’s accusations on ABC radio on Monday morning, saying he respects expert feedback. But Joyce was attributing to GenCost the findings of another energy market report, the Australian Energy Market Operator’sThis models the cheapest pathway to develop the energy grid and is bound by government goals.However, GenCost uses what is called a “levelised cost” of energy calculation to work out the price of different technologies. This represents the price needed for an electricity generation plant to earn back the cost of its construction and running costs over its lifespan.
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