Australia to sell uranium but won't use it

Australia will continue to sell nuclear energy to its neighbours but will not adopt it as it searches for sustainable, affordable power.

Nuclear energy is off the table as a power source for Australia.

Industry Minister Ian Macfarlane said Australia has abundant uranium and was regarded as a safe and secure supplier to its neighbours but he said the federal government had no interest in developing it here as an energy source.

"The reality is that in Australia the appetite for nuclear fuel, which did get as high as around 50 per cent within the community, has waned quite significantly since the Fukushima incident," he told reporters in Melbourne on Tuesday.

"Combined with the fact that we are completely blessed with a range of energy options which include coal, gas and renewables, the community has made it clear that this is not an issue they wish to pursue at this time."

Mr Macfarlane made the comments launching the government's discussion paper on Australia's energy future.

He said it would focus on attracting investment, lowering prices, securing gas to the eastern states and sustainable development and use.

"The paper is about ensuring that we get our energy mix right in Australia but at the same time build on our competitiveness as a country, by ensuring that energy is affordable and available," he said.

He said renewable energy had a significant role but said it required bipartisan support from Labor, because investment would stall if the opposition took a political approach.

Mr Macfarlane said the government was considering linking the Northern Territory's gas supplies into the eastern gas market to ensure supply to NSW but said it would not be cheap.

"Whatever the outcome, the price of gas in New South Wales will continue to rise," he said.

He said further deregulation and technological advancements in the electricity industry should drive power prices down.


Share

2 min read

Published

Updated


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world