The Peter Dutton department of nuclear energy: Coalition plan to own plants

Peter Dutton says under a Coalition government nuclear reactors would be commonwealth-owned and operated under similar schemes to those overseeing Snowy Hydro and NBN.

Peter Dutton will announce ­nuclear reactors will be commonwealth-owned and operated under similar schemes to those overseeing Snowy Hydro and the NBN, as Jim Chalmers attempts a renewables reset by placing new “community benefit” principles at the centre of Labor’s Future Made in Australia Act.

The Australian can reveal the tightly held nuclear policy to be announced on Wednesday, which does not incorporate wider climate and emissions targets, was not fully briefed to shadow cabinet members on Tuesday night to avoid locations being leaked.

It’s understood Mr Dutton has briefed MPs whose electorates could host a nuclear reactor.

The release of the policy was brought forward as a result of high levels of support in community surveys commissioned by the ­Coalition across seven proposed reactor sites.

Coalition MPs will give the green light to the nuclear policy on Wednesday morning.

This comes as Dr ­Chalmers will declare the government’s plan for net zero emissions is “mainstream and middle of the road” and release Treasury’s ­Sustainable ­Finance Roadmap and new legislative details ­underpinning the government’s Future Made in Australia plan.

Labor is vowing to prioritise measures to deal with green­washing – which occurs when a company makes false or ­misleading ­statements about the environmental benefits of their product or practice – and ­improve access to climate and emissions data.

Speaking at The Australian’s inaugural Energy Nation forum in Sydney, Dr Chalmers will warn that Mr Dutton is embarking on a “nuclear road to nowhere” and ­attack the Coalition for being economically irrational and fiscally irresponsible.

The Australian revealed in February that the seven sites were expected to be in Coalition seats including in the Latrobe Valley in Victoria, the Hunter Valley in NSW, Collie in WA, Port Augusta in South Australia, and the ­southwest Queensland electorate of Maranoa, held by Nationals leader David Littleproud.

The announcement on sites comes as long-running ­climate wars in the Coalition erupted.

The most senior moderate ­Liberal, Simon Birmingham, slapped down Mr Littleproud’s claim the parties would avoid large-scale renewables and Queensland LNP leader David Crisafulli ruled out lifting the state’s nuclear ban if he wins the election in October.

Amid rising speculation of an early election and a flare-up in the energy and climate wars, the Treasurer will warn that Mr ­Dutton’s pledge to junk the Albanese government’s emissions-­reduction targets is a “stupendous act of economic self-sabotage”.

Dr Chalmers will say that Mr Dutton’s “economic vandalism on energy” threatens to block an extra $225bn in private ­investment by 2050 needed to support Australia’s energy ­transition and new industrial ­opportunities.

With Labor and the Coalition planning election sweeteners in key regional electorates hit by ­exiting coal-fired power plants and earmarked for renewables or nuclear generation, Dr Chalmers will outline the next steps in the government’s green power revolution. These include “a set of ­community benefits that we want to realise through the trans­formation of our economy”, in a bid to address community angst over the rollout of major renewable ­energy projects and transmission lines.

“Treasury secretary (Steven Kennedy) will give some more ­detail (on Wednesday) – making clear that value for money, discipline, analysis and rigour will underpin our approach,” Dr Chalmers will say, according to a draft version of his speech.

“This will be supported by another two, equally critical parts of our act. First, the bill we introduce into parliament will mandate ­independent analysis be done by Treasury, on the best ways to overcome barriers to investment.

“These will be made public, too, creating a permanent source of ­accountability, encouraging rigorous decision-making, and delivering value for money. Second, the act will outline new community benefit principles.”

Amid concerns that clean ­energy investments are not being well-directed nor integrating with existing economic and energy ­policy, Dr Chalmers will say that “just pumping capital into the transformation won’t be enough if we don’t pay attention to how we deploy it”.

“It won’t be enough if skill shortages remain; if the benefits aren’t realised in the regions and the suburbs,” he will say.

“That’s why the principles in the legislation will focus our attention and action so local communities are engaged; local supply chains are strengthened; local workforces are built; secure, local jobs are created; and we achieve our ambitions in a way that leads to strong returns and stronger communities.”

The Coalition’s nuclear energy policy will not include commitments or trajectories around emissions-reduction targets. It is expected to nominate where ­nuclear reactors could be built and what incentives would be on the table to win community support.

The Australian has revealed, as part of Mr Dutton’s plan, that cheaper power prices would be ­offered for residents and businesses in coal communities as incentives to support a switch from retiring coal-fired generators to nuclear-power generators.

The Liberal leader has been under pressure to ­release ­Coalition plans after he last week revealed he would reject Labor’s 2030 ­emissions-reduction target.

He told The Australian in April he believed the first small modular reactors could be operational by the mid-2030s, following a meeting with British manufacturer Rolls-Royce, which told the ­Coalition it could deliver them at an estimated $3.5bn to $5bn each.

Rolls-Royce is contracted by the Australian government to supply the nuclear reactors for the AUKUS submarines.

Economic impact statements are still expected to be conducted on at least seven communities identified by a shadow cabinet subcommittee.

Ahead of the Australian ­Energy Market Operator next week releasing the country’s next Integrated System Plan, Dr Chalmers will say Treasury’s Sustainable ­Finance Roadmap is a blueprint on how the government will implement its initiatives.

“It identifies the next steps on climate-related financial disclosure,” he will say. “It lists the actions needed to finalise the Sustainable Finance Taxonomy. And (it) outlines steps for net zero transition planning and disclosure.

“The road map also identifies additional priorities: dealing with greenwashing; better understanding climate risks; assessing and improving access to climate and emissions data; and rolling out green bonds.”

The Energy Nation forum features industry and political leaders including Origin Energy chief executive Frank Calabria, Climate Change and Energy Minister Chris Bowen, Mr Littleproud, opposition climate change spokesman Ted O’Brien, Australian Energy Market Commission chair Anna Collyer, Shell Australia chair Cecile Wake and scientist Saul Griffith.