Cobalt-60 is a medical isotope used to sterilize medical equipment such as gowns, gloves, masks, implantable devices and syringes in hospitals around the world.
Ontario’s Nuclear Advantage
Providing low-cost power to families and businesses
Get the facts on nuclear power and energy pricing in Ontario
Low-cost nuclear power meets 60% of Ontario’s energy needs. It is the backbone of the province’s electricity system, and the reasons are clear:
- The cost of nuclear power generation in Ontario is significantly lower than the average residential price. It provides families and businesses with a low-cost source of electricity that saves money compared to other energy options.
- Ontario’s three nuclear facilities – Bruce Power, OPG Darlington and OPG Pickering – create jobs and economic growth in communities across the province.
- Nuclear power helps Ontario meet its climate change goals by keeping the air clean.
Modern health care around the world capitalizes on Ontario’s role as a leading supplier of Cobalt-60.
Ontario has made nuclear electricity a key element in its Long-Term Energy Plan (LTEP) because it provides many benefits. Low-cost electricity, clean air and local jobs are just some of them.
The long-term investment programs underway across Ontario’s nuclear fleet – including OPG Pickering, OPG Darlington and Bruce Power – will secure this low-cost source of electricity over the long term, while meeting our needs today. Nuclear generation in Ontario is currently paid 6.6 cents per kilowatt/hour (kw/h) compared to the average residential price of 11 cents per kw/h.
Ontarians will also benefit from avoided costs of cap and trade by using clean nuclear. In fact, between 2017 and 2064, carbon-free nuclear from Bruce Power and OPG, when compared to alternatives, will avoid between $18 billion and $95 billion in carbon costs that ratepayers would have to fund if this output was replaced by fossil fuels.
There is a myth that, due to the capital investments required in nuclear power, the consequence is a high price of electricity, which simply isn’t true, because nuclear facilities operate for decades and generate large volumes of electricity on a consistent basis. Ontario’s nuclear facilities have a demonstrated track record of high reliability.
- Bruce Power will be investing $13 billion into its Life-Extension Program, allowing its units to operate through 2064. The Bruce Power site is home to eight CANDU reactors.
- OPG will be refurbishing its units at Darlington between 2016 and 2026 at a cost of $12.8 billion, allowing them to run through the late-2050s. The Darlington facility is home to four CANDU reactors.
The cost paid to nuclear covers everything including the operation of the facility, investments and long-term liabilities, including waste and the eventual decommissioning at its end of life.
Get the facts. It’s critical for Ontarians to understand the details about energy pricing and the positive role nuclear energy plays. Learn more about Ontario’s Nuclear Advantage.