Premier Peter Malinauskas says new technology might make nuclear power economic

Premier Peter Malinauskas says technology change might make nuclear power economical for Australia.

Premier Peter Malinauskas has left the door ajar on nuclear power, saying technology change might make it economical for Australia in the future.

Speaking at an Adelaide business lunch on Friday, Mr Malinauskas said he was “all for” nuclear energy if power prices became cheaper in South Australia – but carpeted Coalition policy to put a reactor in Port Augusta as “insanely expensive”.

Mr Malinauskas urged debate only on economic terms, saying nuclear energy’s safety was “well-established” and should not be blocked “just because there’s a few lefties who are going to be opposed to it for old-school, nostalgic reasons”.

In wide-ranging comments about energy, Mr Malinauskas also said gas was “mission-critical” to back up renewables and lashed “diabolical” federal planning laws that he branded too time-consuming.

Premier Peter Malinauskas, who spoke at a Strong Australia lunch at SkyCity Adelaide on Friday. Picture: Tom Huntley

Mr Malinauskas, who has consistently insisted nuclear energy is not economic for Australia, said this should be the sole ground for debate.

“I welcome discussion and debate and I think it’s an analysis that should be ongoing, because, maybe in the future, at some point, the economics of nuclear will change as the technology evolves,” he said.

“The (Peter) Dutton (Coalition) policy is to put a small modular reactor in Port Augusta. If that makes power cheaper in South Australia, I’m all for it.

“There’s a problem. There is not one example anywhere in the world where a small modular reactor has been deployed for civil purposes.

“Why? Because it is insanely expensive. It is the most expensive form, and capital-intensive form, of power that has ever been produced anywhere in the world, ever.”

Mr Malinauskas accused the Coalition of creating political uncertainty that deterred investors in much-needed gas turbines across Australia.

“Why would I build that now if I know that at the next federal election the government could change and then the state, as in the Commonwealth, is going to use its balance sheet to have a state-run power station subsidising electricity, regardless of cost,” Mr Malinauskas said.

“Consumers would just pay for it on their power bills or in your taxes.”

Premier Peter Malinauskas, who is urging ongoing debate about nuclear energy. Picture: Keryn Stevens

Mr Malinauskas said gas investors would not want to compete against state-run, subsidised nationalised, nuclear power stations backed by a Coalition government.

He said gas was “mission-critical” to the energy transition as a firming, or back-up, fuel for renewable energy.

“Renewables can’t offer a genuine contract to the market without a firming service to back them up,” he said.

Mr Malinauskas condemned “an ongoing campaign” against gas, branding this “just so ill-informed” and saying his Adelaide street-corner meetings had been “gatecrashed by activists who want to criticise me and the state government for being pro-gas”.

“What is striking is that when you actually explain to the layperson why gas is so important, they get it,” he said.

Originally published as Premier Peter Malinauskas says new technology might make nuclear power economic