March 1, 2011

Ontario’s Stranded Nuclear Debt – Payment Required

Ontario Opposition Leader Tim Hudak is calling attention to the fact that payments to service and pay down the former Ontario Hydro’s stranded nuclear debts have now exceeded the debt’s original value of $19.4 billion. In fact, after $19.6 billion in payments, we have only reduced the actual debt by $4.6 billion and still have $14.8 billion to pay off.

But despite the huge balance we are carrying on our collective nuclear credit card (you’re making payments every month on your hydro bill), Ontario Power Generation (OPG) would like to keep on using it. OPG wants Ontario’s taxpayers to guarantee the repayment of 100% of the up to $35 billion of new debt that it will ring up to rebuild its Darlington Nuclear Station.

It’s time to cut up the nuclear credit card and get a firm hold on nuclear spending. It is time to stop taxpayer-financed nuclear bailouts. Please contact Premier McGuinty and Opposition Leader Tim Hudak and tell them that you don’t want Ontario’s taxpayers to guarantee the repayments of OPG’s borrowings for its proposed Darlington Re-Build Project. Click here to send them your letter now.

For more information, please read our new factsheet, Ontario’s Stranded Nuclear Debt: A Cautionary Tale.

Thank you for adding your voice to this critical issue.

Angela Bischoff, Outreach Director
Ontario Clean Air Alliance
402-625 Church St, Toronto M4Y 2G1
Phone: 416-926-1907 ext. 246
Clean Air Alliance
Ontario’s Green Future
No Nukes News
Health Power