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ARTICLE · 16 DECEMBER 2015

Ontario Commits To Bruce Power Nuclear Refurbishment Agreement

Ontario recently announced that the province has concluded a deal with Bruce Power to refurbish six of its eight reactors at the Tiverton-based nuclear generation station.

CanadaEnergy and Natural Resources

Ontario recently announced that the province has concluded a deal with Bruce Power to refurbish six of its eight reactors at the Tiverton-based nuclear generation station.

The IESO (then OPA) and Bruce Power entered into negotiations following the release of Ontario's Long-Term Energy Plan in December 2013, which indicated that nuclear power would account for 50% of Ontario's electricity. On December 2, 2015, the parties concluded negotiations and signed the Amended and Restated Bruce Power Refurbishment Implementation Agreement.

Highlights of the refurbishment agreement include:

  • Bruce Power will invest approximately $13 billion of its own funds and agrees to take full risk of cost overruns;

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