The Business Council says all forms of low emissions energy need to be considered in the transition to net zero by 2050, including nuclear, however questions remain on how the Coalition's policy will impact investment certainty over the next 10 to 15 years.
Business Council Chief Executive Bran Black said the BCA has long called for the ban on nuclear to be lifted, so all forms of energy can be considered by the private sector in a genuinely market led transition to net zero.
"Nuclear energy is not a near term proposition, however it could complement Australia's renewable mix in the future, and so the existing ban should be lifted so all technologies can be considered and the market can decide where best to invest," Mr Black said.
Mr Black said the BCA is concerned about how the Coalition's nuclear policy may impact business certainty and investment, with questions remaining on the cost and timeframe of the proposed rollout.
"The cost and timetable given to rollout the Coalition's nuclear policy is ambitious given international experiences in counties like the UK, and questions remain around how Australia's experience will be different.
"Businesses I speak to want certainty and a long-term plan - now - so they can make major investment decisions today to deal with our retiring coal network. These decisions have decades-long implications and we can't afford to see a disincentive to investment in major energy projects over the crucial next 10 to 15 years.
"We're concerned by the amount of government funding that may be required to deliver this policy and what impact that may have on broader energy investment."
Mr Black also called for a long-term plan to deliver reliable, affordable and clean energy along the road to net zero by 2050.
"Fundamentally, Australia urgently needs a long-term roadmap to achieve net zero emissions by 2050 that builds on interim targets and provides detail regarding the policy settings and technology that will deliver these goals, and affords energy reliability and affordability along the way.
"It feels like a pipe dream saying this, but business is crying out for bipartisan policy certainty on our nation's pathway to net zero by 2050".
