TORONTO, Dec. 3, 2015 /CNW/ - The Society of Energy Professionals applauded the announcement today by Bruce Power and the Province that an amended agreement had been entered into to secure the role of the Bruce Power site in Ontario's Long Term Energy Plan.
"This is not only good news for Bruce Power and our members but is positive for electricity ratepayers, too. This agreement will secure a low-cost, stable source of electricity for years to come, while also contributing to our growing economy," said Scott Travers, President of The Society of Energy Professionals. "The approach taken in this transaction is incremental, meaning that workers, industry and Bruce Power need to focus on the effective implementation of this program and build confidence as we work through the multi-year program," added Travers.
The news is also timely given the current discussions underway in Paris, France as global leaders tackle climate change. The Bruce Power site and all of Ontario's nuclear facilities generate electricity without emitting greenhouse gases.
"The Bruce Power site is the single largest source of carbon-free electricity in Ontario and along with the rest of our nuclear fleet will allow the Province to continue to have a modern, clean electricity system that is essential to tackling our short- and long-term climate change targets," said Travers.
The investment program announced today by Bruce Power will require an estimated $13 billion of private investment in various life extension activities moving forward. The Society of Energy Professionals will continue to be an owner in the Bruce Power business as has been the case since 2001.
SOURCE The Society of Energy Professionals
For further information: Adam Chaleff-Freudenthaler, Society of Energy Professionals, 647.500.2394