Bruce Power, on the eve of beginning the next phase of the company’s Life-Extension Program, today (Jan. 15) released its first-ever Ontario Energy Report at the Toronto Regional Board of Trade.
The report, which comes just days ahead of the start of the Major Component Replacement (MCR) Project with the refurbishment of the Unit 6 nuclear reactor, details Bruce Power’s support of the province in achieving several policy goals while advancing nuclear medicine and health care in Canada and around the world.
“Our Life Extension efforts are creating opportunities for people and communities with a focus on the environment, energy and the economy, and that’s why we are releasing this report,” said Mike Rencheck, President and CEO. “It’s important that we communicate these facts, and the intention of the Ontario Energy Report is to provide accurate, verifiable and concrete information.”
“Bruce Power is, and will continue to be, a major contributor to providing Ontario with carbon-free, affordable electricity that allows our province’s businesses to grow and our families to prosper, and life-saving medical isotopes to help people around the world.”
Highlights of the report include;
· Nuclear continues to be the workhorse for the province, meeting 61 per cent of Ontario’s electricity needs in 2019;
· Nuclear also helps Quebec, which relies on hydroelectricity to meet its needs during the cold winter months. Last January, Ontario provided Quebec with more than 400 gigwatt hours (GWhs) to support its winter demand for power;
· Ontario’s residential electricity rates rank among the lowest in developed countries and almost 30 per cent below the 2018 world average of 17.33 cents/kWh. This is largely due to Ontario’s nuclear fleet, which is a key contributor for keeping down prices.
The report details Ontario’s leadership role as the first jurisdiction in North America to lead the way in ending its use of coal-fired electricity – a milestone that was achieved in 2014. Nuclear power has contributed immensely to a decrease in smog days across the province, from 53 in 2005 to zero in 2019.
Bruce Power’s refurbishment of four nuclear units brought 3,000 megawatts of reliable, low-cost and carbon-free electricity back to the grid and provided 70 per cent of the electricity needed to take coal-fired generation out of Ontario’s power supply. Today, nuclear accounts for more than 60 per cent of the province’s supply with Bruce Power providing more than 30 per cent of Ontario’s electricity at 30 per cent less than the average cost to generate residential power.
Also included is Bruce Power’s commitment to producing medical isotopes which keeps medical equipment clean while also providing life-saving cancer treatments.
“It is a priority for our company to continue working with other members of the nuclear industry, the medical community, scientists and educational institutions to produce existing and new isotopes that can improve people’s lives across Canada and internationally,” Rencheck said.
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.