Levelling the playing field for nuclear - make or break

Full text: It is increasingly clear that building large nuclear plants represents a significant challenge in all countries and is especially difficult in liberalised electricity markets and where debt financing is required. However, when operating, nuclear plants provide essential system reliability, low carbon and resilience against shocks. This talk will explain how markets have developed to their current state and how they might be reformed to incentivise nuclear new build, while allowing the transition to more renewable sources. This relates both to ensuring price certainty and requisite financial returns to investors, while fully accounting for the system effects of current technologies. Following the discussion on markets, the talk will look at the interaction between market reform and construction finance, using examples from the UK and elsewhere. Finally, some ideas will be presented about what Australia needs to do if nuclear is ever to be successfully introduced. (author)