The Liberal-National Coalition claims it has found the solution to bring down energy bills – slow the growth of renewable energy and roll-out nuclear power.
According to Liberal Leader Peter Dutton, their plan for a power system including a significant role for nuclear will be 44% cheaper than a system relying predominantly on renewables. This claim is based on energy market economic modelling it released just before Christmas, prepared by an economic consultant – Frontier Economics.
A range of energy analysts and economists have criticised the Coalition’s claims, finding an array of problems with how this number was derived (see the list at the bottom of this article for examples). Nonetheless this hasn’t made any difference to Peter Dutton’s claims, and earlier this month he was on ABC television telling viewers that he had a plan to deliver voters 44% cheaper power bills.
However, you don’t need to be any kind of expert analyst or economist to work out that the claim nuclear will deliver you 44% lower bills is a bit like a wrinkle cream claiming it will make you look 44% younger.