The debate over the viability of nuclear energy in Australia has often been clouded by concerns over cost, timelines, and industry capability. However, insights drawn from KEPCO’s (Korea Electric Power Corporation) extensive nuclear experience highlight significant opportunities that could reshape Australia’s energy landscape. KEPCO’s proven success with the APR1400 reactors serves as a testament to nuclear energy’s potential feasibility in Australia, presenting an effective model that contrasts sharply with current domestic cost and timeline estimations.
A key advantage of adopting a KEPCO-led nuclear strategy in Australia is the alignment with local industry strengths. The use of domestically sourced materials such as concrete and rebar would invigorate Australian manufacturing, create jobs, and foster industrial growth.
Contrary to widespread assumptions reflected in reports such as CSIRO’s GenCost, KEPCO’s completion of APR1400 projects demonstrates that nuclear power can be delivered at costs significantly lower than anticipated in Australian projections—up to 2.6 times cheaper.
Additionally, KEPCO’s project timelines, including the Barakah Nuclear Power Plant (BNPP) in the UAE, which transitioned from first concrete pour to operational status in under five years, challenge the conventional understanding of nuclear build durations.
The submission can be read in full here;
Submission to the Inquiry into nuclear power generation in Australia
