September 18, 2008

Got $26 billion to spare?

If you had $26 billion burning a hole in your pocket how would you spend it?  Would you blow it all on high-risk nuclear power plants or would you use it to transform Ontario into a green energy leader?

Right now, that is the very question facing Ontario.  And so far, the government seems very intent on pursuing Option A – spend it on nuclear.  It is promising to start signing deals for new nuclear plants as soon as March 2009 despite a history of horrendous cost overruns and poor performance in Ontario’s nuclear fleet.  And as for that $26 billion, well, according to Moody’s Investors Service, the actual cost is much more likely to be $68 billion.

Of course, we know who will be picking up the tab – the same folks who have always shouldered the burden of nuclear cost overruns in Ontario: ratepayers and taxpayers.  You know that nuclear debt retirement charge on your hydro bill?  Be prepared to see it there long after your children retire.

We believe it is time to end nuclear energy’s free ride.  No other power provider – whether it is a community-owned wind turbine or a large gas generator – can pass on its capital cost overruns to Ontario’s electricity consumers or taxpayers.  This is a special deal strictly for nuclear – and it has to end.  We are calling on the government to pass a Nuclear Cost Responsibility Act to close the nuclear cost loophole before we get burned again. 

If you agree, or want to find out more about how Ontario could become a green leader instead of a nuclear throwback, visit our new website and sign our petition.

It’s your money.

Please pass this message on to your friends.

Thank you.

Jessica Fracassi, Communications & Membership Director
Ontario Clean Air Alliance

402-625 Church St,TorontoM4Y 2G1

Phone: 416-926-1907 ext. 245
Fax: 416-926-1601