That report is flawed in several ways. It excludes the high grade uranium in Australia currently under export moratorium (all of Queensland). Even then it doesn't deny a potential short-term CO2 benefit. That's all I'm arguing for anyway - I in no way see nuclear as a long-term solution.
Interestingly the report includes the following footnote:
"All energy systems produce an energy debt. Using this data it is possible to calculate the energy pay-back time – the time it takes for the energy system to produce as much energy as it comsumes over a full life-cycle. If we assume a nuclear power plant
operates for 40 years using today’s uranium ore grades (very favourable), the energy pay-back time is 6-14 years. For photovoltaics in the UK it is 4 years and for wind it is less than 1 year."
This is either deliberately disingenous or naive beyond belief. PV and wind have capacity factors of around 20% (the 20% figure for PV is in sunny Australia). The payback above assumes delivered energy only - i.e. based on at best availability of 5 hours a day. So if you're willing to only have electricity for 5 hours per day, that's the energy payback. Meanwhile, in the real world PV and wind are backed up by OCGT, which burn gas 50% less efficiently than CCGT. Add in the energy cost of constructing OCGT plants and the gas burnt in them and the 'energy payback' of PV/wind elongates massively. Again, what's annoying is the half-truth cloaked in the guise of unbiased opinion (although given the IPCC are the sponsors, its quite possible to make a case for obvious potential for bias).
Just on prices, the following is taken from the Australian Tresaury forecast: "The medium global action scenario assumes the world takes action to stabilise the greenhouse gas concentration level at 550 parts per million (ppm) of carbon dioxide equivalent (CO2-e) by 2100".
That by the way is stabilisation at 550 ppm CO2, rather than the hoped-for more aggressive 450 ppm. Under this mild scenario, Australia will require a carbon price of $60/tonne by 2020, and $100/tonne by 2045 (real 2012 dollars). To put that in perspective, the initial carbon price of $23/tonne from July this year is already three times the current European carbon price. The $23/tonne figure will increase wholesale electricity costs by more than 50%.
That's with both a weaker target than was wanted (550 ppm vs 450 ppm), and the reality that even at that price, Australia is not forecasting a reduction in CO2 levels at all - the actual 'reduction' is via offsets purchased from other countries. In other words even with that cost impost, Australia itself delivers no carbon reduction per person at all.
That's my problem with these schemes as introduced. Nobody gets told (or in fact cares) about what will be required, so long as its not today. So the Government deliebrately back ends the targets and therefore price hikes, and is quite happy to glibly talk about 'offsets' instead of the changes to both standard of living and way of life required if Australia is to genuinely contribute to CO2 reduction.