March 9, 2009

Stop the money grab

Ontario’s electricity consumers and taxpayers shelled out $2 billion in 2008 to pay down the stranded nuclear debt of the defunct Ontario Hydro. That’s the equivalent of $150 per year for each of Ontario’s citizens – or $600 for a family of four. And we’re on the hook to continue to pay these charges for years to come.

Nevertheless, despite the fact that every nuclear project in Ontario’s history has been late and over budget, within the next 103 days Energy Minister George Smitherman is planning to give Ontario’s nuclear industry another gigantic, blank cheque to build two new nuclear reactors. Based on the cost estimates of Moody’s Investors Service, these new reactors could cost $26 billion.

In the midst of the worst recession since the 1930s, Ontario’s consumers and taxpayers cannot afford another nuclear bailout. Please sign our petition calling for a Nuclear Cost Responsibility Act that would make it illegal for nuclear power companies to pass their capital cost overruns on to Ontario’s long-suffering electricity consumers and taxpayers.

Please pass this message on to your friends.

Thank you.

Jessica Fracassi, Communications & Membership Director
Ontario Clean Air Alliance
402-625 Church St, Toronto M4Y 2G1
Phone: 416-926-1907 ext. 245
Fax: 416-926-1601