Australia has never built nuclear power plants, so their exact impact on energy bills is uncertain. The best way to estimate costs is by looking at recent nuclear projects in other countries.

The Institute for Energy Economics and Financial Analysis (IEEFA) looked at how planned nuclear reactors in Australia could affect energy bills, using real-world data from similar projects overseas. Their calculations assume that nuclear plants run 24/7 and must recover costs through the wholesale power market. For this to happen, electricity prices would need to rise to cover nuclear costs—leading to higher household energy bills. AFAE extrapolated from IEEFA’s research to estimate the impact on individual households since IEEFA’s analysis focused on the average household rather than individual variations. Visit IEEFA's report.

These estimates do not include extra costs linked to nuclear power, such as:

• The loss in value of existing solar investments in homes and businesses.
• Costs to governments for security, emergency planning, and risk management.
• The cost of setting up new regulatory agencies to oversee nuclear power.

Australians will ultimately pay all these costs, whether through higher taxes, increased energy bills, or cuts to government services.

The following table compares how much more Australians might pay for electricity if nuclear power costs here turn out similar to those in other countries. The cheapest example comes from the Czech Republic, while the most expensive is based on a project in the UK. It shows the average across Australian states for a typical household with median electricity consumption. To see a detailed breakdown by state, see Table 10 in the IEEFA report.