A May 21 statement by the Ontario Clean Air Alliance (OCAA) makes a number of claims related to Bruce Power’s role as a low-cost electricity provider and transparency of information.
Bruce Power and the OCAA do not agree on the important role of nuclear power in Ontario, which is the main enabler behind the historic phase-out of coal in 2014. This role has been reinforced by the Ontario government and a range of economic, environmental and community organizations.
Our hard-working employees take a great deal of pride in the fact we produce 30 per cent of Ontario’s power at 30 per cent less than the average cost to produce residential power. We are the source of half of Ontario’s nuclear generation, and the lowest cost source of nuclear energy in the province.
The price of our electricity and a wide range of economic considerations are transparent.
A 2017 report written by Ontario’s Financial Accountability Office (FAO) on the life extension of the province’s nuclear fleet states, “There is currently no portfolio of alternative low-emissions generation which could replace nuclear generation at a comparable cost.”
The FAO Report has extensive information and analysis, and is available publicly at: https://www.fao-on.org/en/Blog/Publications/FAO-NR-Report-Nov-2017.
In January 2019, the company announced it will contribute more than $200 million to the province to reduce electricity system costs from 2019-2021. These efficiency payments will benefit Ontario’s electricity consumers, and are a result of Bruce Power’s focus on innovation, simplification and continuous improvement in our operations.
In March 2019, the Ontario Chamber of Commerce and Bruce Power released a report outlining the economic impact assessment of Bruce Power’s Life-Extension Program which includes six Major Component Replacement projects that outlines significant benefits to the economy through economic impact, GDP increase, tax revenue, and opportunities for local workers and industry. It also outlined the role of Bruce Power as a low-cost electricity generator.
The Ontario Chamber of Commerce’s analysis of economic benefit from the MCR revealed:
- Canadian economic impact to be between $8.1 and $11.6 billion;
- Ontario GDP to increase between $4.8 and $7.1 billion;
- Ontario labour to receive between $3.8 and $4.6 billion, and Canadian workers located in other provinces to receive an additional $300 million.
In January 2020, the company also released its first-ever Ontario Energy Report at the Toronto Regional Board of Trade. The report details Bruce Power’s support of the province in achieving several policy goals around supply, affordability, economics and climate change while advancing nuclear medicine and health care in Canada and around the world. This report is available at https://tinyurl.com/ybppfo7l.
As a private sector company, there are, at times, commercially sensitive elements to our arrangements which are kept confidential to ensure the company can remain commercially competitive. This is common to any private sector enterprise and not unique to Bruce Power.
For those looking for more information, the Refurbishment Implementation Agreement is posted on the websites of both the IESO and Bruce Power, and has been since 2015. Any questions from members of the public can also be sent to info@brucepower.com. Whenever appropriate, we make information available and are always open to answering questions.
About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram and YouTube.
For more information, contact:
Bruce Power: John Peevers – 519-361-6583 – john.peevers@brucepower.com