Ontario buys three massive nuclear reactors. The province does not want to say how much they cost

The Ontario government is in the process of nuclear purchases, but won’t say how much it will spend.

Just months after one of the world’s first small nuclear reactors was built, the province this week made back-to-back announcements of massive expansions to two nuclear power plants, promising more than six gigawatts of new-generation — enough to power six million households. power by the mid-2030s.

All told, the three new small modular reactors (SMRs) at Darlington, announced Friday, and the new full-size reactors at Bruce announced earlier this week, would add nearly 50 percent more nuclear power to the power grid than is currently online. .

With both announcements, Secretary of Energy Todd Smith declined to say how much these new nuclear reactors would cost.

Queen’s Park critics say writing blank checks for nuclear power, which has a long history of cost overruns, is inconsistent with the government’s pledge to keep electricity rates low.

“People from this province want to know what the total cost of this project will be. More importantly, what will be the cost of the power generated by these reactors? Who is responsible for any budget overruns?” said NDP MP Peter Tabuns.

For 14 years, electricity customers in Ontario paid a surcharge on their utility bills to pay off nearly $20 billion in stranded construction debt on the Darlington Nuclear Power Plant, the last nuclear project to be built in the province. Ontario Hydro becomes insolvent.

SMRs, which are supposed to be cheaper and faster to build than a full-size nuclear power plant, are still a relatively untested technology and have not yet seen commercial use anywhere in the world.

Throughout history, nuclear power plants have suffered increasing construction delays and cost overruns, while renewable energy, such as wind and solar, has fallen sharply in price. This has led many to wonder why Prime Minister Doug Ford is investing in more expensive natural gas plants and nuclear power.

“Ontario is facing an energy crisis. Fortunately, the solutions are right in front of us – cheap, safe, clean renewable energy sources such as hydro, wind and solar that can be deployed quickly,” said Mike Schreiner, leader of the Green Party.

Last year, the International Energy Agency said the cost of new solar projects had fallen so far, solar panels are now the cheapest form of energy in history. This has led to a global wave of renewable buildings, which China is about to install more solar power this year than all the panels ever installed in the United States.

“Global investors are flocking to renewables because they are the cheapest and cleanest source of electricity generation. But instead of taking note, the Ford government is going in the opposite direction – harming consumers, the economy and the climate,” said Schreiner.

Smith said building four SMRs together in Darlington would require a “fleet approach” to keep costs down and build local expertise.

“Sharing a common infrastructure between units will help us reduce costs. And building four units will provide Ontario companies with more opportunities to make investments to expand their business to serve the growing SMR market.”

OPG president and CEO Ken Hartwick said Ontario’s commitment to build four unique nuclear technologies “really indicates the growth momentum that nuclear has for the future of Ontario’s power grid.”

“In the long run, developing this made-in-Ontario expertise means we can export our know-how to other jurisdictions in Canada and around the world.”

After two decades of shutting down more nuclear plants than built, the technology has sparked renewed interest as a solution to climate change because it can provide large amounts of carbon-free power.

However, critics point out that the construction of the plants and the extraction of uranium for fuel are both carbon intensive. In addition, no long-term storage solution has been developed for the remaining radioactive waste.

After Ford was elected in 2018, it canceled more than 700 renewable energy projects at a cost of $231 million, and the province, which was once Canada’s leader in wind and solar construction, has not had one since. built.

Alberta added 1.4 gigawatts to the 1.8 gigawatts of renewable energy built in Canada last year, according to the Canadian Renewable Energy Association. Ontario has not added any.

Earlier this year, Ontario announced two gas plant expansions and upgrades to four others in an effort to meet a short-term power shortage as demand began to pick up for the first time since 2005.

New industrial investment by electric vehicle and battery manufacturers, coupled with increasing demand from people switching to electric cars and electric heat pumps, means Ontario will need more than double its amount of electricity by 2050, according to the Independent Electricity System Operator .

And carbon-free electricity will be needed to meet the federal government’s commitment to have a grid-zero coast-to-coast power grid by 2035.

Subject to regulatory approvals, the three additional RBEs are expected to come online between 2034 and 2036. Construction of the first is expected to be completed in 2028.

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