CANDU Generates the Greatest Economic Benefits for Ontario
Mississauga, Ontario -
Tuesday, February 26, 2008
February 25, 2008
TORONTO, February 25, 2008 – A new economic analysis confirms CANDU as the best choice for Ontario’s next nuclear power plants and illustrates how Team CANDU’s proposal to build new Advanced CANDU Reactors® – ACR-1000® for Ontario makes the most economic sense.
The analysis estimates that the economic activity required to design, supply and construct two Advanced CANDU reactors for Ontario will add $5.1 billion to Canada’s GDP and create 62,000 new person years of employment. The study was conducted using Statistics Canada’s existing input/output methodology and data prepared by Team CANDU.
The government of Ontario will decide between foreign technology or made-in-Canada CANDU nuclear technology to supply the province with base load electricity for decades to come. The decision will be based on the “best technology offered at the best price that provides the greatest benefits and lowest risks over the lifetime of the new facilities”.
Team CANDU recognizes that one of government’s top priorities in making this decision is to protect ratepayers against budget and schedule overruns. That is why Team CANDU is offering Ontario a guaranteed delivery model for new build nuclear.
“The Team CANDU companies have a strong record for delivering projects on time and on budget and we would deliver a new CANDU plant to the people of Ontario in the same way,” said SNC-Lavalin Nuclear President, Patrick Lamarre. “Team CANDU member's strong balance sheets and this track record of on-time, on-budget delivery of CANDU projects worldwide will ensure that Ontario ratepayers are protected from the risk of cost overruns.”
Ontario’s confidence in the ACR-1000 is very important to Team CANDU’s ability to successfully market this new reactor in the fast-growing international market for nuclear power plants. Every CANDU reactor sold internationally generates jobs and economic activity in Canada.
“Our economic estimates clearly highlight that choosing the ACR-1000 in Ontario would help unlock a global market for CANDU that is estimated to generate between $15 and $34 billion in Canadian GDP growth through the construction of ACR-1000 power plants globally,” said Lamarre. “It also has the potential to create up to 420,000 person years of new Canadian employment between now and 2030.”
“At a time when Ontario is losing manufacturing jobs at an alarming rate, choosing CANDU will create new employment and support our domestic industry,” said Hitachi Canada Ltd. President Howard Shearer. “Foreign competitors cannot come close to providing a similar level of jobs and economic benefits.”
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The ACR-1000 is currently being considered as the technology of choice for several Canadian markets. Built on the proven success of AECL’s CANDU 6 nuclear technology, the ACR-1000 is a Gen III+, 1200 MWe class nuclear power plant with improvements in safety, performance and reliability. Team CANDU partners have designed, built and delivered six CANDU 6 reactors to international customers in the last 11 years – all delivered on or ahead of schedule, and all on- budget.
“The newest generation CANDU, the ACR-1000, is ready for Ontario, Alberta and the international market and has already been chosen for New Brunswick,” said AECL President and CEO, Hugh MacDiarmid. “The evolutionary technology is based on the well-proven CANDU 6 design, one of the world’s most reliable and best performing power reactors.”
All nuclear power plants in Canada are CANDUs and Ontario’s 18 CANDUs in service supply more than half of the province’s electricity needs.
“We have a proven supply chain here in Canada, that majority of which is based in Ontario, that is fully mobilized and ready to support a new CANDU project,” said Organization of CANDU Industries President Martyn Wash. “A well-developed supply chain is critical to the success of a large construction project like a nuclear plant. CANDU is by far the best choice for Ontario’s next nuclear power plants and Team CANDU’s proposal makes the most economic sense for Ontario.”
“Premier McGuinty is urging all of us to ‘shop Ontario’ for the good of our local economy,” said Lamarre. “We are asking him to do the same now, and shop Ontario to support the thousands of Ontarians in the CANDU industry.”
About Team CANDU
Team CANDU is a joint initiative between five of the world’s leading nuclear technology and engineering companies who have joined together to deliver a turn-key service and competitive solution for building new nuclear power plants in Ontario. Members of Team CANDU include Atomic Energy of Canada Limited, Babcock & Wilcox Canada, GE Hitachi Nuclear Energy Canada Inc., Hitachi Canada Ltd. and SNC-Lavalin Nuclear Inc.
www.choosecandu.ca
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