Bruce Power welcomes the recent report from the Toronto Region Board of Trade (TRBOT) on the future of energy policy in Ontario.
‘Agenda for Growth’ details the ideal energy system as one that carefully balances the qualities of affordability, reliability and sustainability to ensure the long-term health of the economy, the energy sector and consumers.
The report recognizes nuclear as a low-cost provider of electricity in Ontario, and says investment in nuclear as necessary to ensure a reliable baseload source of electricity. It also calls for more private companies to be involved in the energy market.
“Private sector involvement introduces innovation and new technology, needed capital investments and competitive pressure which encourages efficiency,” the report states. “A flexible and more competitive market for electricity will allow these benefits to become more pronounced.”
As Canada’s only private nuclear operator, Bruce Power has invested heavily in innovative technologies that have allowed us to return over 3,000 megawatts of carbon-free electricity to Ontario’s grid since 2003, while improving our efficiency and ability to safely complete work.
The report also notes the emerging technology of Small Modular Reactors (SMRs), which will provide reliable, safe and carbon-free energy on a smaller scale in the future.
The report also recognizes the economic impact of Ontario’s nuclear industry. Bruce Power invests $4 billion annually into Ontario’s economy while creating and sustaining 22,000 direct and indirect jobs.
“Good energy policy for the Toronto region and the province is centred around strong principles, transparent institutions and consistent rules,” the report concludes. “Central to this is independent governance, open competition and limits to government subsidies.”
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:
John Peevers, Department Manager, Communications and Media Relations