Ontario Power Generation (OPG) announced it would invest C$12.8 billion ($9 billion) in a planned refurbishment project at the Darlington nuclear power plant.
The budget is about C$1.2 billion ($843.8 million) less than originally projected by OPG. The refurbishment of the four reactors is scheduled for completion by 2026. The Ontario Energy Board will determine the final power price, but it is expected to be between seven and eight cents per kilowatt-hour. Jeffrey Lyash, president and CEO of OPG, said the company has been preparing for the project since 2009.
“The Conference Board of Canada studied this project and found that 95 percent of the $12.8 billion investment will be spent in Ontario, increasing the province’s GDP by $14.9 billion,” said Scott Travers, president of The Society of Energy Professionals, IFPTE Local 160.
OPG also announced that it would seek to continue operation at the six-unit Pickering Station to 2024. The units would operate until 2022, then two units would shut down, and the remaining four would operate until 2024.
“Keeping Pickering in service is a smart move,” Travers said. “With both Bruce Power and Ontario Power Generation refurbishing their nuclear assets, the only way to meet the province’s green house gas emission targets is to extend the life of Pickering while the early phases of refurbishment are completed.”
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