Olkiluoto Nuclear Power Plant

• Last week, opposition leader Peter Dutton called for Australia to join what he dubbed the “international nuclear energy renaissance”.
• The same phrase was used 20 years ago to describe plans for a massive expansion of nuclear.
• New Generation III plants would be safer and more efficient than the Generation II plants built in the 1970s and 1980s.

The nuclear renaissance that wasn’t

• Early in the 21st century, the outlook for nuclear energy seemed more promising than it had in years.
• The time seemed right for a nuclear renaissance – especially in the United States.
• Between 2007 and 2009, 13 companies applied for construction and operating licenses to build 31 new nuclear power reactors.
• China has built a trickle of new nuclear plants, commissioning three or four a year over the last decade.

Nuclear falls short on cost, not politics

• Despite the claims of some nuclear advocates, the renaissance in the 2000s did not fall short because of political resistance.
• And, unlike in the 1970s where intense anti-nuclear sentiment was tied to fears of nuclear war, environmentalists in the 2000s had refocused on the need to stop burning carbon-based fuels.
• Governments looking at nuclear saw the cost and time over-runs and decided it wasn’t worth it.
• In Australia, the writing was on the wall by 2007, when an inquiry found new nuclear power would struggle to compete with either coal or renewables.

Could it be different this time?

• Advocates hope the efficiency of factory production will offset the lower efficiency associated with smaller capacity.
• Ironically, off-site mass production and modular installation is the basis of the success of solar and wind.
• Like all small modular reactor designs, the VOYGR has yet to be produced and the US company has no firm orders.
• Read more:
  If the opposition wants a mature discussion about nuclear energy, start with a carbon price.

• "We appreciate the continued trust shown by TVO and OKG in our ability to support the operation of their BWR units for safe and cost-effective long-term operation."
• This agreement creates a privileged partnership for securing the critical competencies needed for the safe and efficient long-term operation of Olkiluoto units 1 and 2 and Oskarshamn unit 3.
• "OKG is pleased to enter into this cooperation agreement to preserve and further develop the competencies within the Nordic nuclear business and promote the safe and long-term operations of our BWRs.
• It will allow us to develop and maintain our reactors in order to meet future challenges," said Jan Karjalainen, acting CEO at OKG.