Bruce Power delivers low-cost power, jobs and economic growth for Ontario

A joint study has determined the life-extension activities and ongoing operations at the Bruce Power site will create thousands of jobs and inject billions of dollars into Ontario’s economy for decades.

The economic impact study, titled ‘Affordable Power. Jobs & Growth,’ has determined the operation of the Bruce site through 2064 will create and sustain 22,000 direct and indirect jobs annually, while creating $4-billion in annual Ontario economic benefit through the direct and indirect spending on operational equipment, supplies, materials and labour income.

Originally released in 2014, the updated study is a collaborative effort amongst the Provincial Building and Construction Trades Council of Ontario, the Canadian Manufacturers and Exporters, and Bruce Power. It has determined the life-extension activities on Bruce Power Units 3-8, which began Jan. 1, 2016, and continue to be on time and on budget, will create and sustain 5,000 direct and indirect jobs annually.

The program will also see $980-million to $1.2-billion in labour income invested annually into Ontario’s economy, and result in $751-million to $1.07-billion in annual economic benefit through contracting of equipment, supplies and materials, both directly and indirectly.

The life-extension activities, which include the Major Component Replacement program, were announced last December and will take place over the next 40 years, while the site will continue to produce carbon-free electricity until 2064.

“The current investment and operation program at Bruce Power will provide 22,000 jobs directly and indirectly across Ontario through 2064,” said Patrick Dillon, business manager, Provincial Building and Construction Trades Council of Ontario. “The life-extension program will create highly-skilled jobs for thousands of tradespeople in Ontario, while also providing decades of stable electricity prices for their families.”

Bruce Power’s private investment program will ensure Ontario industries maintain a reliable supply of carbon-free nuclear energy through 2064, said Ian Howcroft, vice-president, Canadian Manufacturers and Exporters Ontario. “Nuclear power is reliable and competitively-priced. Bruce Power, which provides 30 per cent of the province’s electricity, will continue to provide Ontarians with affordable, reliable electricity, which is especially important for our manufacturing sector.”

The study can be downloaded at http://14083-presscdn-0-0.pagely.netdna-cdn.com/wp-content/uploads/2016/11/Economic-Impact-Study-2016.pdf