The president and CEO of Bruce Power is encouraged by the 2017 Long-Term Energy Plan as it reiterates the importance of Bruce Power's Life-Extension Program.
Mike Rencheck says stable government policy ensures Bruce Power can make long-term investments to help supply about Ontario's electricity below the average cost.
“We are encouraged by the trust the government continues to have in Bruce Power to provide over 30% of Ontario’s electricity at 30% less than the average cost to generate residential power, while producing zero carbon emissions,” Rencheck says . “Our Life-Extension Program, which began on January 1, 2016, is on time and on budget, and continues to boost Ontario’s economy in every corner of the province.”
The plan released on Thursday supports the plan to have Bruce Power provide electricity through 2064.
Rencheck says Bruce Power's investment programs and operations create and sustain 22,000 direct and indirect jobs a year, and inject $4-billion into the economy annually.
The plan also recognizes that Bruce Power also produces medical isotopes to save lives.
“By extending the life of the Bruce site, Ontario will have the stable, reliable, low-cost and clean energy foundation needed to further pursue modernization and decarbonization of the province’s electricity system and economy,” Rencheck adds. “Nuclear will provide the backbone Ontario needs to meet and exceed its emissions targets, while benefiting families and businesses as a low-cost, reliable source of electricity through 2064.”
