Bruce Power Agreement Means Jobs, Affordable Electricity And Clean Air, Says CNA
TORONTO (December 3, 2015) – The Canadian Nuclear Association (CNA) says Bruce Power’s long-term agreement with the Independent Electricity System Operator (IESO) means jobs, affordable power and clean air for decades.
“Ontario is already a world leader in switching from fossil fuels to low-carbon energy,” said CNA President and CEO Dr. John Barrett. “This agreement ensures a steady supply of low-carbon electricity through 2065. It also brings price stability, creates thousands of high-paying jobs, and economic growth that will continue for decades.”
Dr. Barrett added: “This announcement demonstrates that public-private partnerships can deliver clean-energy innovation to stabilize the climate. The public will benefit greatly without taking on risk.”
Bruce Power’s program will secure an estimated 18,000 jobs directly and indirectly from operations, and an additional 3,000-5,000 jobs annually throughout the investment program.
A 2014 economic study noted that “there is no single, well-established project, facility or infrastructure project in Ontario that will have such a significant economic impact.”
The Provincial Building and Construction Trades Council of Ontario, Southwest Economic Alliance, Canadian Manufacturers & Exporters, The Society of Energy Professionals, the Power Workers’ Union and Bruce Power jointly authored the study.
Nuclear energy provides about 60 percent of Ontario’s electricity at an average price of 6.6 cents per kilowatt-hour, cheaper than any other energy source but hydro. About half of that electricity comes from the eight reactors at Bruce Power.
The major component upgrades for six reactors are estimated to cost $8 billion, and Bruce Power will invest a further $5 billion to update its plant. The plant update work will begin next year, and the major component upgrades in 2020. The work will continue through 2035.
Nuclear energy plants emit no direct climate-changing greenhouse gases, just like hydro dams, wind turbines and solar panels. Like hydro, but unlike solar and wind, nuclear plants generate power around the clock in any weather.
“Nuclear is an indispensable ally in mitigating climate change,” Dr. Barrett said. “As climate scientists recognize, the two-degree targets being discussed in Paris will require a mix of nuclear energy, renewables, and carbon capture and storage. No single technology can do the job. Only a mix can deliver, and nuclear must be part of that mix.”
Dr. Barrett concluded: “Ontario recognized this long ago, and offers an energy model that the world should embrace.” Ontario eliminated coal-fired generation last year, achieving a North American first.
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