The Coalition’s nuclear power plan will cost up to $263 billion less than Labor’s renewable rollout between now and 2050, translating into cheaper electricity over the long run, its long-awaited economic modelling purports.

The costings, conducted by Frontier Economics and to be released on Friday by Opposition Leader Peter Dutton and energy spokesman Ted O’Brien, estimates the capital and operating costs of the Coalition’s policy to deliver net zero emissions electricity by 2050 will be $331 billion.