Ontario shelves plans to acquire new nuclear reactors

Industry sources have confirmed to the Globe and Mail that Premier Kathleen Wynne is not pursuing former Premier Dalton McGuinty’s plan to purchase two new nuclear reactors. The Liberals have decided to shelve over $10 billion in  investments for nuclear power projects. The move was said to be part of the long-term energy plan of Wynne’s government which is set to be introduced in the next two months. 

 

Ontario relies heavily on nuclear power. Last year, 56 percent of the province’s energy supply was derived from nuclear sources. However, the support for nuclear power has significantly fallen after concerns about safety resurfaced after the Fukushima plant disasters in Japan two years back. The nuclear industry also faces stiff competition from companies that distribute cheap natural gas.

 

On a positive note Wynne has made a commitment to refurbish the nuclear station at Darlington. All four reactors at Darlington are set to be overhauled beginning in 2016. The facility currently supplies an estimated 20 percent of the electricity requirements in the province.

 

A refurbishment comes just in time, too.  Professionals have stressed the need to overhaul Darlington and many of the other nuclear reactors in Ontario.

There is no budget for the planned multi-year refurbishment of Darlington but if history is any indication, it’s bound to be an expensive undertaking. When the Pickering A nuclear station was refurbished about ten years ago, the estimated cost was pegged at $1.3 billion. When the project was completed, the cost ballooned to $2.6 billion, with only two of the four reactors actually overhauled.