PEACE RIVER, ALBERTA--(Marketwire - Dec. 12, 2011) - Bruce Power has decided it will no longer advance the option for a new nuclear plant in Alberta that has been under consideration by the company since 2007.
"Throughout our existence at Bruce Power we've looked at a number of potential business development opportunities," said Duncan Hawthorne, Bruce Power's President and Chief Executive Officer. "We've decided the new nuclear option in Alberta is not something our company will be progressing further."
When Units 1 and 2 return to service in 2012, Bruce Power, Canada's only private nuclear power generating station, will operate the largest nuclear facility in the world, its eight units producing a quarter of Ontario's electricity and half of the nuclear power in Ontario.
"Innovative businesses develop and consider new opportunities, but we've made a business decision to continue to put our full focus on the safe, reliable operations and ambitious investment program on our Bruce site," Hawthorne said.
Since late-2007, when Bruce Power acquired Energy Alberta, the company has become known in Alberta and Peace Country, developing and evaluating the possibility of building a new nuclear facility to power Alberta's growing economy.
"I'd like to thank the many people in Peace Country who stood with us to investigate an option for Alberta's energy future and for welcoming us into your community," Hawthorne said. "I have no doubt there will come a day when nuclear will have a place in a balanced supply mix in Alberta."
The Alberta government also opened the door to considering the nuclear option, under some conditions, following a public consultation process throughout the province. After extensive analysis and environmental studies, Bruce Power also identified an ideal site.
"There is no question, the option for a new nuclear facility in Peace Country and in Alberta is a strong one and will be an important consideration moving forward," Hawthorne said. "Over the last several years, we've had strong support from a number of elected officials and citizens in the community and that support continued to grow as the facts about nuclear power became known both in this community and throughout Alberta."
Bruce Power will continue to work with its investors and the Ontario Power Authority on the feasibility of securing 6,300 megawatts (MW) from the Bruce site following the successful restart of Units 1 and 2 in 2012, which will inject another 1,500 MW of baseload generation into the Ontario market.
About Bruce Power
Bruce Power is a partnership among Cameco Corporation, TransCanada Corporation, BPC Generation Infrastructure Trust (a trust established by the Ontario Municipal Employees Retirement System) the Power Workers' Union and The Society of Energy Professionals.