TIVERTON, ON, July 18, 2018 /CNW/ - The Ontario Chamber of Commerce has released a blueprint that aligns with the new provincial government's policy on nuclear, including Bruce Power's Life-Extension Program.
The report, titled 'Blueprint for Making Ontario Open for Business,' suggested the Hon. Greg Rickford, the Minister of Energy, Northern Development and Mines, and Minister of Indigenous Affairs, leverage Ontario's nuclear sector, which gives the province key advantages because of the low cost and high reliability of the electricity source that powers 60 per cent of the province.
"Not only does the nuclear industry contribute to the economy by providing less costly and more reliable electricity, it creates jobs across Ontario, it has a high-tech supply chain and contributes to health research and innovation through the development of critical isotopes," the blueprint states.
The letter also aligns with the government's policy to support the Bruce Power Life-Extension Program, which will allow the site to provide 30 per cent of Ontario's electricity through 2064. Eight operating units at Bruce Power will maintain stability on the electrical grid, the blueprint states, contribute 22,000 jobs annually and invest $4 billion into Ontario's economy through direct and indirect spending on engineering, specialized equipment, materials, and labour income.
Similarly, Hon. Rickford showed his support for Bruce Power in the Legislature on Tuesday, when he spoke of the importance of Bruce Power's life extension and medical isotope production during Question Period. The Minister said the Ontario government will always support private companies like Bruce Power, which produce clean, reliable electricity without any risk to the taxpayer.
"Bruce Power is an important producer of energy for our sector here in Ontario," Hon. Rickford said. "Our government will always support the work of private organizations… that are working to create good jobs, high techs jobs… in our province, while providing safe and secure access to energy.
"We are especially supportive of companies that achieve these goals without the need for public funding."
The OCC's Blueprint also suggested the Minister continue promoting Ontario's nuclear industry domestically and abroad.
"Strong, consistent government support for Ontario's nuclear operations and supply chain through assured investment in our domestic technology and expertise is essential to establishing confidence in Canada's nuclear products and services internationally," the blueprint states. "Your ministry should work with the federal government to ensure Canada remains a leader in nuclear expertise and innovation, and the nuclear sector continues to be an economic driver for Ontario."
The report also addressed Hon. Christine Elliott, Ontario's Deputy Premier and Minister of Health and Long-Term Care, explaining the important role Bruce Power and Ontario's nuclear producers play in the world's health care sector through the production of radioisotopes for sterilization and cancer treatment.
"The demand for a reliable supply of these critical isotopes continues to grow as health care advances around the world. Isotopes such as Cobalt-60 and molybdenum-99 are excellent examples of the influence of Ontario's health and life science sector globally and how it contributes to Ontario's economic prosperity. Recognizing how health care can be an economic driver and a source of innovation is fundamental to ensuring the system is sustainable and effective."
Rocco Rossi, the President and CEO of the Ontario Chamber of Commerce, said the Blueprint provides Ministers with feasible suggestions for growing Ontario's economy and building shared prosperity for all.
"The Life-Extension Program at Bruce Power is central to our energy infrastructure future and a key component of our blueprint for fostering job creation, providing low-cost electricity and contributing to health research and innovation through the development of critical isotopes," Rossi 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.
SOURCE Bruce Power
For further information: John Peevers - Bruce Power Communications and Media Relations - [email protected] - 519-361-6161