‘Big question-mark over new nuclear’: German utility CEO

afr.com:

The CEO of one of Germany’s last nuclear power producers has cautioned against the idea of a non-nuclear country such as Australia adopting nuclear power, pointing to the cost overruns and delays plaguing new nuclear plants around the world.

Markus Krebber, chief executive of RWE, which turned off its last nuclear reactor in April only because of a German government directive ordering the country’s exit from nuclear power, said there was a big difference between retaining safe, existing plants, and building new ones.

RWE CEO Markus Krebber in Brisbane last week. Glenn Campbell

Mr Krebber, who was among German energy chiefs who voiced concern about the impact on the price and availability of power from the country’s nuclear exit, said new nuclear was more expensive in most regions of the world than adding renewables with the necessary back-up storage.

“I would clearly differentiate between keeping nuclear plants which are safe in operations and building new ones,” he told The Australian Financial Review.

“I would have a big question mark whether building new ones is really a good strategy, because if you look at the cost overruns and the delays, I think purely a renewables-based energy system including the necessary storage is probably in most of the regions already today cheaper than new nuclear.”

The comments add to the growing debate around whether nuclear power – which is currently illegal in Australia – should be on the table as an option to help the economy decarbonise and allow for the shutdown of carbon-polluting coal power plants.

Mr Krebber’s stance supports the arguments of Climate Change and Energy Minister Chris Bowen, who last week cited cost as the No. 1 issue against nuclear energy for Australia, given the