UQ Student Energy Network
Kieran Sullivan – UQ SEN President
Wednesday 29th October – GHD Auditorium, AEB
Email: [email protected] Facebook: UQ Student Energy Network
UQ STUDENT ENERGY NETWORK
(UQ SEN)
• Formed August 2014
• Membership
• 50 members (further 100 have expressed interest) • Engineering, Science, Business, Law
• Aims
• Energy education • Skill development
UQ SEN CONSULTING PROGRAM
• Small, multidisciplinary student teams working on real energy problems • Mentors from UQ and industry
• 7 week program
• Deliver 2 page summary and a 10 minute presentation • Completed Projects
• Effect of Falling Demand on the NEM • Impacts of Green Roofs at UQ
• Natural Gas Transition Drivers
• Implications of Electricity Demand Fluctuations • Feasibility of Solar PV for a Remote Mine Site
YELLOW
TEAM
Getting the Most out of the Uranium Industry:
How to Make Uranium Fuel Fabrication and Reprocessing Economical in Australia Mentor: Professor Eric McFarland, Director – Dow Centre for Sustainable Engineering Innovation
Energy Consulting Program
Carlos Eduardo Paes, Luke Nicol, Bradley Spencer, Danelle Gagliardi, Julia Mac Meekin
Mentor Professor Eric McFarland, Director of the Dow Centre for Sustainable Engineering Innovation
Current System
•
In 2013 Australia exported 8391
Tonnes of U
3O
8.•
Total value of exports was $823
Million AUD.
•
Average price of $98.08/kg AUD.
•
ERA Company report indicates a
10.12% mark-up (profit)
•
Australian based revenue
represents only 25% of total fuel
cycle revenue.
Current System
•
Australia's known uranium
resources are 31% of the world
total.
•
In 2012, Australia provided 12%
of the world’s uranium supply
The Big Question
Why hasn’t Australia embraced more of
the nuclear fuel cycle?
Our Plan
•
Stage Zero – Change the Laws, Win Over the Public, Boost the
Australian Economy
•
Stage One - Bilateral agreement on waste disposal, bunker storage at
preferred site
•
Stage Two - Reprocessing facility built, construction started on long
term storage, fuel fabrication and enrichment built
•
Stage Three – Long term agreement on waste storage, extraction of
exotic metals, long term underground storage
Stage Zero – Law & Policy Changes
Major Hurdles
•
Legal & Regulatory Regime
•
Public Opinion
Stage Zero – Law & Policy Changes
•
Lift the Commonwealth Bans
• Include the fabrication and reprocessing of yellow cake uranium as an
authorised activity under the Australian Radiation Protection and Nuclear Safety Act 1988 (Cth) to enable the grant of a facility licence;
• Create an exception for Minister’s approvals for licensing of the proposed actions under the EPBC Act; and
• Consequential amendments under State Legislation
•
How?
• Lobbying & Education via the uranium industry & the scientific community
• Convince the govt this is safe, politically beneficial, and economically beneficial • Right political environment
Stage Zero – Law & Policy Changes
•
Public Opinion
• Refer to the positive experience of such countries as France, Germany, Finland and Sweden and believe that the nuclear industry is cleaner and safer than any fossil fuel-based one
• Distinguish the previous disasters
• How?
• PR Campaigns & Roundtables
Stage Zero – Law & Policy Changes
•
International Community Opinion
• Convince the International Atomic Energy Agency (IAEA) that Australia is an ideal State for nuclear fuel fabrication.
• How?
• Australia is uniquely:
• Geographically stable
• Politically stable
• Financially stable
• Australia is the perfect place for nuclear fuel fabrication and sale without the risk of weapons proliferation.
Market Plan
Selling Advantage:
•
Collocation of fuel fabrication, reprocessing, enrichment facilities
• Low prices
• Complete fuel cycle management
• Maintained security • Maximised profits
•
Partnership Advantages
• Sustainable • Reduce risks • Eliminate wasteMarket Plan
•
Profit margins for reprocessing and
enrichment are low, with high
capital expenses
•
Profit margins for fuel fabrication
and waste disposal are high, with
low capital expenses
•
Australian government stabilization
agreement and need for waste
disposal prevents cancelation by
change in government
Process Amount required Unit Cost Cost Fraction of total
U3O8 8kg $80 $640 25% Conversion 7kg U $12 $84 3% Enrichment 4.8SWU $122 $586 23% Fuel Fabrication per kg $240 9% Total Fuel In $1,550 61%
Fuel Back End
Reprocessing/Disposal $1,000 39%
• 2 major spikes in planned facility revenue
• 1500% increase in revenue and 3140% in profit before tax
Stage 1 – Bilateral agreement on waste disposal, bunker
storage at preferred site
• Public-Private partnership established to construct the enrichment and fuel rod assembly facilities and initial bunker storage at the future long term
storage site.
• Fuel rod units would be required to be returned within two years of sale, the typical time for the depletion of a fuel rod unit.
• Profit derived from these fees would be used to fund the construction of the enrichment, fuel fabrication and initial bunker storage, as well as pay
Stage 2 – Reprocessing facility built, construction started on
long term storage, fuel fabrication and enrichment built
•
Reprocessing as a sustainable
alternative (closing the cycle)
Environmental – less waste
Social – job opportunity
Economical - revenue
•
Funds to complete the facility
continued sale of fuel rod units
acceptance of non-Australian origin
Stage 3 – Long term agreement on waste storage,
extraction of exotic metals, long term
underground storage.
•
Benefits of long term storage:
• Provides approximately 2000 jobs directly and 6000 indirectly
• Potential for long term profit.
• Storage in a politically stable country
•
Agreement on waste storage:
• Australia stores spent fuel in the deep underground repository for a set price
• The spent fuel will remain the property of whomever it is stored for and may be retrieved for them for a set price.
Stage 3 – Long term agreement on waste storage, extraction of
exotic metals, long term underground storage.
•
Requirements of long term storage:
• Access road and rail link.
• A surface facility for preparation of the spent fuel as well as access to the repository.
• Constant monitoring of the facility.
•
The waste will be stored in three layers of protection:
• The first is the cladding the spent fuel is already encased with.
• The waste is then packaged in thin-walled metal containers.
• Once placed in the tunnels, the tunnels are backfilled with bentonite.
Stage 3 – Long term agreement on waste storage,
extraction of exotic metals, long term
underground storage.
•
Initial site:
• 5sq km on the surface • 20sq km underground • 75,000 tonnes of storage • Room to expand if requiredStage 3 – Long term agreement on waste storage,
extraction of exotic metals, long term
underground storage.
•
Potential for future innovation in extraction of exotic metals from
depleted fuel
•
Partnerships with other nations to supply mixed oxide fuels
under strict guidelines
•
Australia offers complete fuel cycle management
•
Packaging of low profit business with high profit business makes
the fuel cycle cheaper and reduces risk and uncertainty.
