About Bruce Power
Bruce Power is Canada's first private nuclear generator, providing 30% of Ontario's power from the shores of Lake Huron, approximately 250 km northwest of Toronto between the towns of Kincardine and Saugeen Shores in Tiverton, Ontario. The eight-unit plant has more than 4,000 highly-skilled employees and employs thousands more indirectly. Bruce Power is a partnership among TransCanada Corp., Borealis Infrastructure (a trust established by the Ontario Municipal Employees Retirement System), the Power Workers' Union and The Society of Energy Professionals. More than 90 per cent of Bruce's employees own a part of the company.
OPERATING CANDU UNITS
TOTAL INSTALLED CAPACITY
Bruce Power Life Extension
Bruce Power's role in the future of Ontario's electricity supply was solidified on Dec. 3, 2015, when the company and the Independent Electricity System Operator (IESO) entered into an amended, long-term agreement to secure 6,400 megawatts of electricity from the Bruce site, through a multi-year Life-Extension Program. The life extension began on Jan. 1, 2016, and will continue through 2053, allowing Bruce Power's units to operate safely through to 2064.
The life extension also includes the Major Component Replacement Project, which will begin in Unit 6 in 2020 and extend the life of Units 3-8 over a period of 16 years.
Extending the operational life of the Bruce Power units will ensure Ontario families and businesses have long-term price stability.
The amended agreement allows Bruce Power to immediately invest in life-extension activities for Units 3-8, followed by a Major Component Replacement program, optimizing the operational life of the site and offering significant ratepayer and system benefits.
Highlights of the arrangement include:
On Jan. 1, 2016, Bruce Power began receiving a single price for all output from the site of $65.73 per megawatt hour (MW/h), which is about 30% less than the average price the province paid in 2015 of $98.90 MW/h.
Bruce Power, as a private sector operator, will continue to meet all investment requirements for the site. In the short-term, between 2016 and 2020, the company will be investing approximately $2.3 billion ($2014) as part of this plan. This is incremental to the company's ongoing financial investments to sustain eight units of operation.
For more information on the Bruce Power Life Extension visit http://www.brucepower.com/about-us/life-extension/
Source: Bruce Power: BrucePower.com
PO Box 1540
177 Tie Rd.,
R.R. 2, Tiverton,
3394 Bruce County Rd. 20
Concession 4, Municipality of Kincardine
West of Hwy. 21
North of Tiverton, Ontario, Canada