Peter Dutton’s nuclear energy plans have suffered a setback with the CSIRO estimating the nation’s first large-scale nuclear power plant could cost as much as $17 billion in today’s dollars, and would not be operational until at least 2040.

With the Coalition now saying it will announce its nuclear plans by the end of the year, the CSIRO’s final annual GenCost report says while a large-scale reactor would produce cheaper power than the small modular reactors (SMR), as first proposed by the opposition, the electricity would still cost one-and-a-half to twice as much as firmed renewable energy.