Get the facts! It’s critical for Ontarians to understand the details about energy pricing and the positive role nuclear energy plays.
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.