TIVERTON, ONTARIO--(Marketwired - March 17, 2014) - Bruce Power's innovative employee-ownership program has reached an all-time high with 87 per cent of its 4,100 employees investing their own money into the company.
"Since 2001, we have created an innovative public-private partnership at Bruce Power, securing not only $7 billion of private invetsment in public assets, but also creating a unique model that allows for both individual employee and union ownership," said Duncan Hawthorne, Bruce Power's President and CEO.
In 2007, Bruce Power launched a program called our shAre where employees were provided the opportunity to invest their own money into the company, demonstrating a shared commitment to delivering a reliable source of low-cost electricity for the province for generations.
"Bruce Power's success since 2001 has been driven by our people, and this another example of how committed our employees are to our long-term vision of being a key provider of low-cost, affordable and carbon-free electricity for Ontarians," Hawthorne added. "We have created a dynamic and innovative culture at Bruce Power and this will be critical as we move forward to turn our role in Ontario's Long-Term Energy Plan into action."
In 2014, for the third year in a row, Bruce Power was named one of Achievers Top 50 Most Engaged Workplaces, while it has also been honoured for having one of Canada's Top 10 Corporate Cultures and being a Top 100 Employer for Young People over the past two years.
In 2013, Bruce Power provided 30 per cent of Ontario's electricity at 30 per cent below the average cost in the province. Bruce Power is Canada's largest public-private partnership, where the assets remain owned by the province and the company invests private dollars into them, so the government can stay focused on priorities like health care and education. The price of power in controlled by contract with the Ontario Power Authority and safety is federally regulated by the Canadian Nuclear Safety Commission.
About Bruce Power
Bruce Power operates the world's largest operating nuclear generating facility and is the source of roughly 30 per cent of Ontario's electricity. The company's site in Tiverton, ON, is home to eight CANDU reactors, each one capable of generating enough low-cost, reliable, safe and clean electricity to meet the annual needs of a city the size of Hamilton. Formed in 2001, Bruce Power is an all-Canadian partnership among Borealis Infrastructure Management (a division of the Ontario Municipal Employees Retirement System), TransCanada, the Power Workers' Union and the Society of Energy Professionals. A majority of Bruce Power's employees are also owners in the business.