In December 2015, Bruce Power entered into a long-term agreement with the province, through the Independent Electricity System Operator (IESO), which established a commercial framework for the company to advance this investment program. The long-term power supply contract provided stability from the company while guaranteeing Ontario ratepayers with a competitively priced source of carbon-free electricity for decades.
Through this agreement, Bruce Power’s owners will meet all of the program’s investment requirements while the facility will remain owned by the province and leased to Bruce Power over the long term.
Bruce Power currently has a licence to operate the site until 2020, however, the company will formally seek a renewal to this licence in 2018 to reflect the new outlook and work program for the facility, following the announcement of a commercial framework with the IESO last year. The licence renewal application will follow the rigorous and transparent public process established by the Canadian Nuclear Safety Commission and will include current life-extension and future Major Component Replacement work as part of this process.
Bruce Power will host a series of engagement sessions and webinars to share information and obtain feedback about its plans.