TIVERTON, ON, Oct. 27, 2017 /CNW/ - The Government of Ontario has reconfirmed its long-term electricity supply policy that will see Bruce Power, and nuclear, play an important role in the province's energy sector for decades.
The 2017 Long-Term Energy Plan was released after a year of public consultation and government review. The plan reiterates the importance of Bruce Power's Life-Extension Program, which will see the site provide low-cost, carbon-free and reliable electricity through 2064.
Mike Rencheck, Bruce Power's President and CEO, said it is important to have stable government policy in place so Bruce Power can make long-term investments to secure low-cost electricity for families and businesses.
"We are encouraged by the trust the government continues to have in Bruce Power to provide over 30 per cent of Ontario's electricity at 30 per cent less than the average cost to generate residential power, while producing zero carbon emissions," Rencheck said. "Our Life-Extension Program, which began on Jan. 1, 2016, is on time and on budget, and continues to boost Ontario's economy in every corner of the province."
The government also recognized Bruce Power's other attributes, including its production of medical isotopes, which save lives in Ontario and around the world. Bruce Power's investment programs and operations also create and sustain 22,000 jobs directly and indirectly each year, while injecting $4 billion into the economy annually, all while keeping Ontario's air clean and providing low-cost electricity.
"By extending the life of the Bruce site, Ontario will have the stable, reliable, low-cost and clean energy foundation needed to further pursue modernization and decarbonization of the province's electricity system and economy," Rencheck added. "Nuclear will provide the backbone Ontario needs to meet and exceed its emissions targets, while benefitting families and businesses as a low-cost, reliable source of electricity through 2064."
The LTEP, which is reviewed every four years, is available for download at https://www.ontario.ca/page/ontarios-long-term-energy-plan.
Watch a video about the history of the Bruce Power site and its role in Ontario through 2064 at https://youtu.be/rJ1MW5E_avE.
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: Bruce Power Duty Media - 519-361-6161 - BNPDdutymedia@brucepower.com