by Yvette Brand

Risks to Baw Baw Shire's clean green image as a food producer and property valuations need to be identified in the impact assessment of a nuclear power station in the Latrobe Valley, according to a Warragul commercial finance broker.

Branding of Gippsland as a premier agricultural food bowl could be jeopardised and property prices could decrease up to 20 per cent if the research by local finance expert Kathryn Bordonaro into impacts of Britain's nuclear industry on neighbouring municipalities is a true guide.
Ms Bordonaro dropped the bombshell to three Baw Baw Shire councillors at a recent "Politics in the Pub" forum hosted by independent candidate for Monash Deb Leonard. She asked if council had looked into potential loss of rate revenue and impact on council budgets if properties across the shire devalued between 19 and 25 per cent as they had in Britain.
While not directly within the Latrobe Valley zone where the Coalition's nuclear power plant is proposed at Loy Yang, Ms Bordonaro said Baw Baw Shire residents fell within a clear 80 kilometre radius that was an identified risk zone.
Ms Bordonaro said an article in The Gazette on February 18 - "Valley nuclear proposal in the spotlight" - which reported on a series of information sessions in the Latrobe Valley, largely addressed by US nuclear experts, prompted her to seek more information.
Her starting point was the Coalition's policy document Our Plan for Zero Emissions Nuclear. "There was very little detail," and, working in banking and finance for more than 30 years, Ms Bordonaro said she liked "a good detailed document."
Ms Bordonaro said given the Latrobe Valley information sessions relied on US experts to present information, she turned to US websites to begin her research - "and that's where I got my detail."
"I started drilling down for the information that I wanted to know which was how does this affect the area that I live in," she said.
The United States Nuclear Regulatory Commission outlined the key to any community protection action strategy was establishing emergency planning zones around a nuclear station.
Based on the USNRC guidelines, Baw Baw Shire would be located within an "ingestion exposure pathway" which extends 80 kilometres from the reactor site. Protective action plans for such zones are designed to "avoid or reduce dose from eating or drinking radioactive materials." Milk products were identified as a high risk for contamination.
Ms Bordonaro said there were two significant risks to food producers in West Gippsland - the damage to Gippsland's clean, green brand and the direct devaluation of properties.
"When I think about the farms and the food in that (80 kilometre) circle, it's significant.
"Food & Fibre Gippsland has done so much work developing Gippsland as a food bowl and linking Gippsland to the consumer," she said.
Ms Bordonaro said branding strategies including Gippsland beef products, the Thorpdale potato festival and South Gippsland garlic festival and Gippsland Jersey milk had all been built over the past 15 to 20 years but could be at risk.
She said the other impact was the devaluation of properties. "I don't think Baw Baw Shire has thought about that."
Ms Bordonaro said a British report showed house prices in postcodes home to nuclear power stations averaged 19.3 per cent to 25.8 per cent less. The report found there was a "public perception that living close to a nuclear site is not only a potential eyesore but also poses a potential risk."
For most people, Ms Bordonaro said their home was their biggest asset so a 20 per cent decrease in value would hurt.
"Risk equals diminished value for banks...and if the risk leads to lower property values it will lead to reduced access to finance for Gippsland agribusiness.
"I am not an engineer, I am not a geo-scientist, but I am a financier and I know risk. It's not just people in the shadow of the Latrobe Valley that will be affected," she said.
Nuclear - "incredibly safe"
Liberal candidate for Monash Mary Aldred is confident modern nuclear power plants "are incredibly safe" and would deliver benefits to the region.
"Building a modern and safe, zero-emissions nuclear power plant on the retiring Loy Yang Power Station site will ensure our region continues to have high-skilled, well paid, multi-generational employment, something the workers and families of the existing Loy Yang B site are looking forward to when I met with them to discuss the nuclear plant.
"The creation of new jobs and skilled employment opportunities will be of great benefit to our region and will attract people here," she said.
Ms Aldred said modern nuclear power plants with the latest technology were "incredibly safe.
"The technology is safe enough for our international partners such as the United States, Canada, the United Kingdom and France.
"We need to get on the front foot now and follow the other top 20 economies in the world which use zero-emission nuclear power or are taking steps to put it in their mix.
Ms Aldred said Labor and the Teal's 'renewables only' policy would continue to drive-up power prices.
"Electricity and gas prices have gone up by 32 per cent and 34 per cent respectively. For small businesses, electricity prices are up to 52 per cent higher under Labor, and gas is up to 43 per cent higher," she said.