FAO Report Confirms Nuclear Power is Irreplaceable in Ontario’s Long-Term Supply Mix
Tiverton, ON – November 21, 2017 – Today, the Financial Accountability Office of Ontario (FAO) released its nuclear refurbishment report, “An Assessment of the Financial Risks of the Nuclear Refurbishment Plan.” The Power Workers’ Union (PWU) welcomes today’s report, as it confirms the economic benefits that nuclear generation delivers; information that the PWU has been communicating for quite some time.
Over the last decade, the PWU has sponsored several expert analyses which demonstrate that nuclear power should continue to play an irreplaceable role in Ontario’s long-term energy supply mix. The benefits that come with the refurbishment projects are shown in these in-depth reports. Refurbishing the reactors at both the Darlington Nuclear Generating Station and Bruce Power, as well as extending the operation of the Pickering Nuclear Station to 2024, are the province’s best means of securing clean, reliable, low-cost and affordable electricity for Ontario’s homes and businesses for the decades to come.
“Refurbishing Ontario’s nuclear fleet is something on which we can all agree. Low-cost electricity, high-value jobs, economic growth and cleaner air, will all be made possible through these projects. We agree with the FAO that this is the most cost-competitive option for Ontario.”
– Mel Hyatt President, Power Workers’ Union
In addition to being the most cost-effective means of supplying the province’s future electricity needs, the nuclear fleet helps avoid 45 million tonnes of CO2 per year, supports innovation focused R&D at Ontario universities and colleges and underpins Ontario’s supply of life-saving isotopes.
About the Power Workers’ Union
The Power Workers’ Union (PWU) has been representing the highly skilled people who work in Ontario’s electricity sector since 1945. Presently representing about 15,000 members, the PWU has worked hard to build its reputation in Ontario as a credible source of knowledge for its members, and in advocating for better energy choices for all Ontarians. Learn more at www.pwu.ca and follow us on Facebook, Twitter, Instagram and YouTube.
Paul S Reece
Chief of Staff
Power Workers’ Union