The economic ripple from Bruce Power and Ontario’s nuclear sector extends across the province including the Northumberland region, the company’s President and CEO Duncan Hawthorne told the Northumberland Central and Port Hope and District Chamber of Commerce earlier today.
Bruce Power’s operations inject more than $4 billion into Ontario’s economy every year and a big portion of that investment reaches this area where Cameco does the important work of fuel conversion and assembly,
“Ontario’s Long-Term Energy Plan is counting on Bruce Power’s eight units to supply electricity for decades to come, and this means affordable electricity for families and businesses along with ongoing positive economic impacts.”
Cameco, a major employer in Port Hope and Cobourg, providing roughly 650 skilled jobs within the region, recently extended its agreement to provide fuel services to Bruce Power.
We’re proud to be a long-term fuel supplier to Bruce Power, dating back to 2001 when the company assumed operational control of the Bruce site,
said Alice Wong, Senior Vice President and Chief Corporate Officer of Cameco.
“Ontario’s nuclear generators provide a solid economic foundation for our fuel services operations and we look forward to continuing our relationship for many years to come.”
The total economic benefits related to Bruce Power’s fuel cost is roughly $245 million annually, according to a joint economic impact analysis released last year by the Ontario 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.
Lou Rinaldi, MPP Northumberland Quinte West, recognized the positive economic impact nuclear has on the Northumberland region and across Ontario.
Nuclear is an economic powerhouse for the province and today we have a better appreciation for the impact Bruce Power has on the Northumberland region, by creating jobs and investment in the area,
“Output from Bruce Power is an affordable source of electricity and provides a foundation for renewal as the company prepares to extend the lives of its units as outlined in Ontario’s Long-Term Energy Plan.”
About Bruce Power
Bruce Power operates the world’s largest operating nuclear generating facility and is the source of roughly 30% of Ontario’s electricity. The company’s site in Tiverton, Ontario is home to eight CANDU reactors, each one capable of generating enough low-cost, reliable, safe and clean electricity to meet the annual needs of a city the size of Hamilton. 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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