The Ontario government and the nuclear lobby keep promising that new nuclear will avoid the massive cost overruns, long delays, and poor performance of the past that lead to soaring electricity rates.
But then there is the real world.
Last week, Ontario Energy Minister Stephen Lecce announced that the province has directed the Independent Electricity System Operator (IESO) to subsidize Bruce Power’s $300 million pre- development budget for a new nuclear station.
That means Ontario electricity consumers are once again being forced to bankroll a high-cost nuclear project that could cost $110 billion.
Wind and Solar Cost Far Less
Ontario could instead triple its supply of much lower cost solar and wind power without spending a dime on special subsidies to private corporations for their pre-development work. In fact, more than 90% of new electricity supply added globally last year came from renewable energy. Why is Ontario bucking the trend?
As Ontario’s recent competitive procurement for new electricity supply has shown: new wind and solar projects are coming in at less than one-third the cost of new nuclear. Even with battery storage included, renewable energy is less half the cost of building giant new nuclear stations.
Ontario Has a Better Choice
Instead of giving multi-million dollar handouts to a private sector nuclear company, we could be supporting communities that want to build affordable renewable energy.
We could be supporting farmers and businesses, expanding rooftop solar, and creating a whole new industry in Ontario by developing leading-edge offshore wind energy in the Great Lakes.
Instead, Minister Lecce is pushing us down a path that will lock Ontario families and businesses into higher electricity bills for decades.
Tell Minister Lecce to Stop the Nuclear Gravy Train
Please contact Minister Lecce and tell him to lower our electricity bills and create good jobs in every community by tripling our supply of wind and solar energy. It’s time to stop the gravy train for uneconomic nuclear projects.