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General Market Commentary
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General Energy
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General Market Commentary
Australia taking baby steps towards nuclear energy
Australia’s Parliament presented this week a report that outlines a series of measures to take into consideration if the country wants to move forward with the development of nuclear energy.
The report, which arose from a legislative committee’s inquiry into the matter, states that it is important for the island nation to consider the prospect of nuclear technology as part of its future energy mix and that to do so, relevant institutions would have to undertake a body of work to progress the understanding of nuclear technology in the Australian context.
Such an understanding -the report states- should lead authorities to consider lifting the current moratorium on nuclear energy partially -that is, for new and emerging nuclear technologies only, and conditionally-, subject to the results of a technology assessment and a commitment to community consent for approving nuclear facilities.
According to the document, most of this work should be undertaken by the Australian Nuclear Science and Technology Organisation ANSTO, whose experts should also advise the federal government on the feasibility and suitability of installing Generation III+ and Generation IV reactors, including small modular reactors, as well as on the formulation of a framework to monitor the status of new and emerging nuclear technologies.
“The report identifies a clear pathway for Australia to properly consider nuclear energy by addressing knowledge gaps in Australia about this important energy source. Importantly, it acknowledges the critical role for community engagement on what is a contentious policy and political issue,” said Tania Constable, CEO of the Minerals Council of Australia, in a media statement.
In Constable’s view, her country should take advantage of nuclear energy by moving into small modular reactors as a potential replacement for retiring coal baseload plants.