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Coalition announces where they want to build nuclear power stations
(www.theguardian.com)
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That’s an incredibly expensive emergency power supply. If you can’t operate a nuclear plant 24/7 it’s going to take a veeeeerry long time to pay off the massive capital investment.
And that’s the crux of the issue. These plants won’t be supplying baseload. By the time they get built we will have twice as much rooftop solar, and lots more utility wind and solar. There will be very little room for them to operate at a spot price that earns them money.
Nuclear plants have really really long spin up/down cycles so when it's on, it's on for a while. It's not like solar, gas, wind where you can just stop it on a whim. So if you go nuclear, it's already running for a long time, and if they're running for a really long time they're also essentially running as baseload production.
As for the cost for emergency power, yeah it'd be great if it's cheaper. But the worse the emergency becomes, the less the cost matters. If I had to choose between coal or nuclear for emergency power, I'd probably choose both. Coal (which can be started and stopped quickly) just to cover the spin up time for the nuclear power, then nuclear for the rest of the emergency (and during spin down as whatever the emergency was is in the process of being resolved).