GenCost is a leading annual economic report that estimates the cost of building new electricity generation, storage and hydrogen production in Australia to 2050. This report recognises that Australia’s future electricity system needs a mix of technologies to remain reliable, secure and flexible – with cost being just one part of the equation.

This paper reviews the outcomes of the 2025 federal election, the major party positions and how the electorate voted on climate and energy policies. It finds that a steep swing towards the ALP represents a resounding endorsement of Australia’s current plan for renewable power.

Australia faces an urgent need to decarbonise its energy grid. This report calls for a balance in approaching this issue. Accelerating renewable energy deployment is critical, yet a pragmatic, evidence-based approach must also consider all low-emission technologies, including nuclear, to ensure a resilient, affordable and sustainable energy future. It provides four recommendations.

A whole-of-economy analysis demonstrates the implied costs of the Federal Coalition’s nuclear plan run well into the trillions of dollars – ranging from $4.3 to $5.2 trillion by 2050. The analysis reveals a hollowing out of Australian industry, permanently higher energy costs, higher costs from unabated carbon pollution and trillions of dollars in lost GDP.