Maintain Pickering nuclear operation through 2024, urges OPG report

TORONTO—Continuing operations at the Pickering Nuclear Generating Station through 2024 will benefit benefit to Ontario’s economy, its local communities and the stability of its energy system, according to a new report from the Ontario Chamber of Commerce (OCC) and the the Canadian Centre for Economic Analysis (CANCEA).

The report, which was paid for by Ontario Power Generation (OPG), is titled Pickering Continued Operations: An Impact Analysis on Ontario’s Economy, and supports the continued operations of the Pickering Generating Nuclear Station until 2024. The station’s license expires in 2018.

OPG says the Pickering Station, one of the world’s largest nuclear power generating stations, currently makes up 14 per cent of Ontario’s electricity supply and directly employs about 4,000 people.

“Nuclear power is the backbone of Ontario’s electricity system, providing reliable electricity to 1.5 million homes a day,” said Rocco Rossi, president and CEO, Ontario Chamber of Commerce. “Based on the results of this study, a Canadian Nuclear Safety Commission (CNSC) license for continued operation to 2024 would bring significant benefits to Ontario’s economy, energy system and local communities.”

To date, Pickering Station has been positively assessed twice over and has been recognized for safety and performance by the World Association of Nuclear Operators (WANO). In 2016, the Canadian Nuclear Safety Commission (CNSC) issued Pickering Station the highest possible rating, “Fully Satisfactory” on its Regulatory Oversight Report.

Paul Smetanin, president and CEO of CANCEA added that “Our economic analysis demonstrates that the Pickering Station is a key contributor to the Ontario economy through job retainment and creation from associated economic activity while also systemically ensuring the reasonableness of electricity costs, which can impact housing affordability in the region.”

CANCEA’s analysis points to three major benefits to continued operations until 2024:
• $1.54 billion to Ontario’s GDP per year;
• 7,590 full-time equivalent jobs per year;
• $290 million in government taxation revenues ($155 million to federal and $135 million to provincial).

Read the full report on OPG’s site here.