Bruce Power is honoured to be named as the 2016 recipient of the Ontario Business Achievement Award for Sustainability.
The Sustainability Award, presented at a gala event Nov. 29 in Toronto, goes to ‘a business that has demonstrated that being a leader in sustainability makes good business sense.’
“We are honoured and frankly humbled to receive this award and we accept it on behalf of our 4,000 employees who proudly make it their mission each and every day to safely provide the province with clean, reliable, low-cost electricity while at the same time maintaining a healthy environment,” said James Scongack, Vice President of Corporate Affairs at Bruce Power.
The annual Ontario Business Achievement Awards, hosted by the Ontario Chamber of Commerce, provides an opportunity to shine a light on business success in the province. Over the past 34 years, the OBAA’s have become the premiere business excellence awards in Ontario.
Bruce Power has demonstrated that sustainability and good business are not mutually exclusively and in fact they often go hand-in-hand.
The company’s return of four dormant nuclear units to service between 2003 and 2012, provided 70 per cent of the power the province needed to shut down Ontario’s coal stations, dramatically improving the quality of Ontario’s air. The refurbishment of the four Bruce Power reactors added 3,000 megawatts of carbon-free electricity to Ontario’s grid, keeping harmful emissions out of the atmosphere and cleaning the air we breathe.
“Closing coal-fired power plants represents one of the largest greenhouse gas reduction initiatives in North America,” said Scongack. “The closures have eliminated more than 30 megatonnes of annual GHG emissions, which is equivalent to taking seven million vehicles off Ontario’s roads.”
Between 2017 and 2064, the end-of-life of the Bruce Power units, clean nuclear, when compared to alternatives, will avoid between $12 billion and $63 billion in carbon costs that ratepayers would have to fund if this output was replaced by fossil fuels based on a range of currently contemplated carbon pricing. For the average household this is an avoided cost of between $2,700 and $14,000 through to 2064.
About Bruce Power
Bruce Power operates the world’s largest operating nuclear generating facility and is the source of roughly 30 per cent of Ontario’s electricity. The company’s site in Tiverton, Ontario is home to eight CANDU reactors. Formed in 2001, Bruce Power is an all-Canadian partnership among Borealis Infrastructure Management (a division of the Ontario Municipal Employees Retirement System), TransCanada, the Power Workers’ Union and the Society of Energy Professionals. A majority of Bruce Power’s employees are also owners in the business.
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