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Kinectrics Welcomes Ontario's Long-term Energy Plan

October 26, 2017

Kinectrics is pleased with today’s release of the Government of Ontario’s Long-Term Energy Plan (LTEP).
 
This updated plan affirms nuclear energy will provide the foundation for the province’s clean, reliable electricity future. Ontario’s commitment to the cost-effective refurbishment of existing nuclear assets at Bruce and Darlington will ensure that for decades to come, families and businesses in the province will benefit from a stable, low-cost source of clean energy.
 
This undertaking, which represents Canada’s largest infrastructure project, is being supported by Kinectrics and its Ontario-based workforce. Kinectrics is also pleased with the government’s commitment to operate the Pickering Nuclear Generating Station to 2024, supporting the refurbishment outages between now and then by reducing greenhouse gas (GHG) emissions as well as the cost of electricity service to Ontario ratepayers.
 
What this LTEP makes clear is that the Government of Ontario intends to focus on ensuring that tomorrow’s energy system builds off many of the core strengths of today’s while carefully planning for the innovation and technological change that is already beginning to change the way that Ontarians think about and use electricity in their daily lives.  
 
David Harris, CEO of Kinectrics says that a clean, reliable and affordable energy supply mix, with a robust nuclear baseload supporting the transition to a lower carbon economy, is a central component to the province’s overall prosperity, competitiveness and quality of life: 
 
“Kinectrics firmly believes that nuclear energy has an irreplaceable role to play in meeting Ontario’s long-term electricity needs.  Nuclear energy is the backbone of our power generation infrastructure in Ontario and it reliably delivers cost-effective, clean power around the clock, thereby spearheading Ontario’s efforts in meeting long-term GHG emission reduction targets as well as providing tens of thousands of high quality jobs and contributing significantly to the strength of the economy.” 
 
Facts:
 
  • Nuclear generating stations at Bruce, Darlington and Pickering supply 60 per cent of Ontario’s electricity.
  • In 2016, the cost of nuclear power in Ontario averaged less than 7 cents/kWh, approximately 30 per cent less than the average residential price for electricity.
  • By helping to avoid approximately 45 million tonnes of CO2 emitted each year, Ontario’s nuclear fleet is a significant contributor to the province meeting its climate change goals.
  • The nuclear industry in Ontario contributes more than $5 billion annually to Canada’s economy and supports approximately 50,000 Ontario jobs.
  • Ontario’s nuclear facilities and their domestic supply chain create jobs and economic growth in communities across the province.