Nuclear plant supplier GE Hitachi Nuclear Energy shielding finances from the risks of an accident at a Canadian nuclear station
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Energy Net on 03 Aug 09Cheap, reliable hydroelectric power once helped make Ontario rich, powering the factories and foundries that created wealth for the province. But it's now 18 aging nuclear reactors that keep the lights on, providing half the power used in Ontario. Most are closer to the end of their working lives than the beginning, and many have a record of costly overruns, inefficiency or both. Despite that history, the Liberal government of Premier Dalton McGuinty has enthusiastically backed a nuclear future for Ontario, planning to renew the aging fleet to maintain its half of provincial generation with an ambitious, 20-year, $26-billion plan. But in June, when the bill for replacing just two of those reactors came in so startlingly high -- "several billions" too high in Energy Minister George Smitherman's words -- that he simply pulled the plug on the project, suspending it and leaving open the question once again: Can Ontario keep splitting the atom without breaking the bank?