The federal government is formally inviting offers as it seeks to privatize the nuclear reactor division of Atomic Energy of Canada Ltd.
In announcing the request for "investor proposals," Natural Resources Minister Lisa Raitt said the goal is to boost AECL's global presence while reducing the financial risk carried by taxpayers.
The research-and-technology division of the Crown corporation, including the Chalk River laboratories and its troubled medical isotope production, are not part of the government sale.
A National Bank study commissioned by the Conservative government determined there is "significant private sector interest" in a stand-alone CANDU reactor business.
However the government may have undercut its own bargaining position when Prime Minister Stephen Harper's chief spokesman described AECL as a "dysfunctional" $30-billion "sink-hole" last June.
That same month, the Ontario government put off a decision on new reactor construction after deciding all the bids – including one for an untried, next-generation AECL reactor – were too costly.
Honda Canada EV Supply Chain accelerates electric vehicles with Ontario assembly, battery manufacturing, CAM/pCAM and separator plants in Alliston, creating green jobs, strengthening domestic manufacturing, and reducing greenhouse gas emissions across North America.
Key Points
A $15B Ontario initiative for end-to-end EVs, batteries, and components, creating jobs and cutting emissions.
✅ Alliston EV assembly and battery plants anchor production.
✅ CAM/pCAM and separator facilities via POSCO, Asahi JV.
✅ $15B build-out drives jobs, R&D, and lower emissions.
The electric vehicle (EV) revolution is gaining momentum in Canada, with Honda Canada announcing a historic $15 billion investment to establish the country's first comprehensive EV supply chain in Ontario. This ambitious project promises to create thousands of new jobs, solidify Canada's position in the EV market, and significantly reduce greenhouse gas emissions.
Honda's Electrifying Vision
The centerpiece of this initiative is a brand-new, world-class electric vehicle assembly plant in Alliston, Ontario. This will be Honda's first dedicated EV assembly plant globally, marking a significant shift towards a more sustainable future. Additionally, a standalone battery manufacturing plant will be constructed at the same location, ensuring a reliable and efficient domestic supply of EV batteries.
Beyond Assembly: A Complete Ecosystem
Honda's vision extends beyond just vehicle assembly. The investment also includes the construction of two additional plants dedicated to critical battery components, mirroring activity such as a Niagara Region battery plant in Ontario: a cathode active material and precursor (CAM/pCAM) processing plant and a separator plant. These facilities, established through joint ventures with POSCO Future M Co., Ltd. and Asahi Kasei Corporation, will ensure a comprehensive in-house EV production capability.
Jobs, Growth, and a Greener Future
This large-scale project is expected to create significant economic benefits for Ontario. The construction and operation of the new facilities are projected to generate over one thousand well-paying manufacturing jobs, similar to GM's Ontario EV plant announcements that underscore employment gains across the province. Additionally, the investment will stimulate growth within Ontario's leading auto parts supplier and research and development ecosystems, bolstered by government-backed EV plant upgrades that reinforce local supply chains, creating even more indirect job opportunities.
But the benefits extend beyond the economy. The transition to electric vehicles plays a crucial role in combating climate change. By bringing EV production onshore, Honda Canada is contributing to a significant reduction in greenhouse gas emissions, aligning with Canada's ambitious climate goals for transportation.
A Catalyst for Change
Honda's investment is a significant vote of confidence in Canada's potential as a leader in the EV industry, as recent EV manufacturing deals put the country in the race. The establishment of this comprehensive EV supply chain will not only benefit Honda, but also attract other EV manufacturers and solidify Ontario's position as a North American EV hub.
The road ahead for Canada's EV industry is bright. With Honda's commitment and this groundbreaking project, and with Ford's Oakville EV plans underway, Canada is well on its way to a cleaner, more sustainable future powered by electric vehicles.
Nighttime Thermoelectric Generator converts radiative cooling into renewable energy, leveraging outer space cold; a Stanford-UCLA prototype complements solar, serving off-grid loads with low-power output during peak evening demand, using simple materials on a rooftop.
Key Points
A device converting nighttime radiative cooling into electricity, complementing solar for low-power evening needs.
✅ Uses thermocouples to convert temperature gradients to voltage.
✅ Exploits radiative cooling to outer space for night power.
✅ Complements solar; low-cost parts suit off-grid applications.
Two years ago, one freezing December night on a California rooftop, a tiny light shone weakly with a little help from the freezing night air. It wasn't a very bright glow. But it was enough to demonstrate the possibility of generating renewable power after the Sun goes down.
Working with Stanford University engineers Wei Li and Shanhui Fan, University of California Los Angeles materials scientist Aaswath Raman put together a device that produces a voltage by channelling the day's residual warmth into cooling air, effectively generating electricity from thin air with passive heat exchange.
"Our work highlights the many remaining opportunities for energy by taking advantage of the cold of outer space as a renewable energy resource," says Raman.
"We think this forms the basis of a complementary technology to solar. While the power output will always be substantially lower, it can operate at hours when solar cells cannot."
For all the merits of solar energy, it's just not a 24-7 source of power, although research into nighttime solar cells suggests new possibilities for after-dark generation. Sure, we can store it in a giant battery or use it to pump water up into a reservoir for later, but until we have more economical solutions, nighttime is going to be a quiet time for renewable solar power.
Most of us return home from work as the Sun is setting, and that's when energy demands spike to meet our needs for heating, cooking, entertaining, and lighting.
Unfortunately, we often turn to fossil fuels to make up the shortfall. For those living off the grid, it could require limiting options and going without a few luxuries.
Shanhui Fan understands the need for a night time renewable power source well. He's worked on a number of similar devices, including carbon nanotube generators that scavenge ambient energy, and a recent piece of technology that flipped photovoltaics on its head by squeezing electricity from the glow of heat radiating out of the planet's Sun-warmed surface.
While that clever item relied on the optical qualities of a warm object, this alternative device makes use of the good old thermoelectric effect, similar to thin-film waste-heat harvesting approaches now explored.
Using a material called a thermocouple, engineers can convert a change in temperature into a difference in voltage, effectively turning thermal energy into electricity with a measurable voltage. This demands something relatively toasty on one side and a place for that heat energy to escape to on the other.
The theory is the easy part – the real challenge is in arranging the right thermoelectric materials in such a way that they'll generate a voltage from our cooling surrounds that makes it worthwhile.
To keep costs down, the team used simple, off-the-shelf items that pretty much any of us could easily get our hands on.
They put together a cheap thermoelectric generator and linked it with a black aluminium disk to shed heat in the night air as it faced the sky. The generator was placed inside a polystyrene enclosure sealed with a window transparent to infrared light, and linked to a single tiny LED.
For six hours one evening, the box was left to cool on a roof-top in Stanford as the temperature fell just below freezing. As the heat flowed from the ground into the sky, the small generator produced just enough current to make the light flicker to life.
At its best, the device generated around 0.8 milliwatts of power, corresponding to 25 milliwatts of power per square metre.
That might just be enough to keep a hearing aid working. String several together and you might just be able to keep your cat amused with a simple laser pointer. So we're not talking massive amounts of power.
But as far as prototypes go, it's a fantastic starting point. The team suggests that with the right tweaks and the right conditions, 500 milliwatts per square metre isn't out of the question.
"Beyond lighting, we believe this could be a broadly enabling approach to power generation suitable for remote locations, and anywhere where power generation at night is needed," says Raman.
While we search for big, bright ideas to drive the revolution for renewables, it's important to make sure we don't let the smaller, simpler solutions like these slip away quietly into the night.
Alberta Rate of Last Resort provides a baseline electricity price, boosting energy reliability, affordability, and consumer protection amid market volatility, aligning with grid modernization, integration, pricing transparency, and oversight from the Alberta Utilities Commission.
Key Points
A fallback electricity rate ensuring affordable, reliable power and consumer protection during market volatility.
✅ Guarantees a stable baseline price when markets spike
✅ Overseen by AUC to balance protection and competition
The Alberta government has announced significant strides in its electricity market reforms, unveiling a new plan under new electricity rules that aims to enhance energy reliability and affordability for consumers. This initiative, highlighted by the introduction of a "rate of last resort," is a critical response to ongoing challenges in the province's electricity sector, particularly following recent market volatility and increasing consumer concerns about rising electricity prices across the province.
Understanding the Rate of Last Resort
The "rate of last resort" (RLR) is designed to ensure that all Albertans have access to affordable electricity, even when they face challenges securing a competitive rate in the open market. This measure is particularly beneficial for those who may not have the means or the knowledge to navigate complex energy contracts, such as low-income families or seniors.
Under this new plan, the RLR will serve as a safety net, guaranteeing a stable and predictable rate for customers who find themselves without a competitive provider. This move is seen as a crucial step in addressing the needs of vulnerable populations who might otherwise be at risk of being shut out of the energy market.
Market Volatility and Consumer Protection
Alberta's electricity market has faced significant fluctuations over the past few years, and is headed for a reshuffle as policymakers respond to unpredictability in pricing and service availability. The rise in energy costs has caused distress among consumers, with many advocating for stronger protections against sudden price hikes.
The government's recent decision to implement the RLR is a direct acknowledgment of these concerns. By creating a baseline rate, officials aim to provide consumers with peace of mind, knowing that there is a fallback option should market conditions turn unfavorable. This initiative complements other measures aimed at enhancing consumer protections, including improved transparency in pricing, the consumer price cap on power bills being advanced, and the regulation of energy suppliers.
Broader Implications for Alberta’s Energy Landscape
This plan is not only about consumer protection; it also represents a broader shift towards a more sustainable and stable energy market in Alberta, aligning with proposed electricity market changes under consideration. The introduction of the RLR is part of a comprehensive strategy that includes investments in renewable energy and infrastructure improvements. By modernizing the grid and promoting cleaner energy sources, the government aims to reduce dependency on fossil fuels while maintaining reliability and affordability.
Additionally, this move aligns with the province's goals to meet climate targets and transition to a more sustainable energy future as Alberta is changing how it produces and pays for electricity through policy updates. As the demand for clean energy grows, Alberta is positioning itself to be a leader in this transformation, appealing to both residents and businesses committed to sustainability.
Public and Industry Reactions
The announcement has garnered mixed reactions from various stakeholders. While consumer advocacy groups have largely praised the government's efforts to protect consumers and ensure affordable electricity, some industry experts express concerns about potential long-term impacts on competition, arguing the market needs competition to remain dynamic. They argue that while the RLR provides immediate relief, it could disincentivize companies from offering competitive rates, leading to a less dynamic market in the future.
The Alberta Utilities Commission (AUC) is expected to play a pivotal role in overseeing the implementation of the RLR, ensuring that it operates effectively and that any unintended consequences are addressed swiftly. This regulatory oversight will be crucial in balancing consumer protection with the need for a competitive energy market.
Conclusion
As Alberta forges ahead with its electricity market reforms, the introduction of the rate of last resort marks a significant step in enhancing consumer protection and ensuring energy affordability. While challenges remain, the government's proactive approach reflects a commitment to addressing the needs of all Albertans, particularly those most vulnerable to market fluctuations.
In this evolving energy landscape, the RLR will serve not only as a safety net for consumers but also as a foundation for a more sustainable and reliable electricity system. As Alberta continues to adapt to changing energy demands and climate considerations, the effectiveness of these measures will be closely monitored, shaping the future of the province’s electricity market.
NuScale SMR Design Certification marks NRC Phase 6 FSER approval, validating small modular reactor safety and design review, enabling UAMPS deployment at Idaho National Laboratory and advancing DOE partnerships and Canadian vendor assessments.
Key Points
It is the NRC FSER approval confirming NuScale SMR safety design, enabling licensed deployment and vendor reviews.
✅ 60 MW modules, up to 12 per plant; UAMPS project at Idaho National Laboratory
US-based NuScale Power announced on 28 August that the US Nuclear Regulatory Commission (NRC) had completed Phase 6 review—the last and final phase—of the Design Certification Application (DCA) for its small modular reactor (SMR) with the issuance of the Final Safety Evaluation Report (FSER).
The FSER represents completion of the technical review and approval of the NuScale SMR design. With this final phase of NuScale’s DCA now complete, customers can proceed with plans to develop NuScale power plants as Ontario breaks ground on first SMR projects advance, with the understanding that the NRC has approved the safety aspects of the NuScale design.
“This is a significant milestone not only for NuScale, but also for the entire US nuclear sector and the other advanced nuclear technologies that will follow,” said NuScale chairman and CEO John Hopkins.
“The approval of NuScale’s design is an incredible accomplishment and we would like to extend our deepest thanks to the NRC for their comprehensive review, to the US Department of Energy (DOE) for its continued commitment to our successful private-public partnership to bring the country’s first SMR to market, and to the many other individuals who have dedicated countless hours to make this extraordinary moment a reality,” he added. “Additionally, the cost-shared funding provided by Congress over the past several years has accelerated NuScale’s advancement through the NRC Design Certification process.”
NuScale’s design certification application was accepted by the NRC in March 2017. NuScale spent over $500 million, with the backing of Fluor, and over 2 million hours to develop the information needed to prepare its DCA application, an effort that, similar to Rolls-Royce’s MoU with Exelon, underscores private-sector engagement to advance nuclear innovation. The company also submitted 14 separate Topical Reports in addition to the over 12,000 pages for its DCA application and provided more than 2 million pages of supporting information for NRC audits.
NuScale’s SMR is a fully factory-fabricated, 60MW power module based on pressurised water reactor technology. The scalable design means a power plant can house up to 12 individual power modules, and jurisdictions like Ontario have announced plans for four SMRs at Darlington to leverage modularity.
The NuScale design is so far the only small modular reactor to undergo a design certification review by the NRC, while in the UK UK approval for Rolls-Royce SMR is expected by mid-2024, signaling parallel regulatory progress. The design certification process addresses the various safety issues associated with the proposed nuclear power plant design, independent of a specific site and is valid for 15 years from the date of issuance.
NuScale's first customer, Utah Associated Municipal Power Systems (UAMPS), is planning a 12-module SMR plant at a site at the Idaho National Laboratory as efforts like TerraPower's molten-salt mini-reactor advance in parallel. Construction was scheduled to start in 2023, with the first module expected to begin operation in 2026. However, UAMPS has informed NuScale it needs to push back the timeline for operation of the first module from 2026 to 2029, the Washington Examiner reported on 24 August.
The NuScale SMR is also undergoing a vendor design review with the Canadian Nuclear Safety Commission, amid provincial activity such as New Brunswick's SMR debate that highlights domestic interest. NuScale has signed agreements with entities in the USA, Canada, Romania, the Czech Republic, and Jordan.
Germany EV Subsidy Cut triggers budget-crisis fallout in the automotive industry, after a constitutional court ruling; EV incentives end, threatening electromobility adoption, manufacturer competitiveness, 2030 targets, and demand amid Chinese competition and weak global growth.
Key Points
A sudden end to Germany's EV incentives due to a budget shortfall after a court ruling, hurting automakers and adoption.
✅ Ends buyer rebates amid budget crisis ruling
✅ Risks 2030 EV targets and industry competitiveness
✅ Weak demand and China competition intensify
The German government has faced a backlash after abruptly ending an electric car subsidy scheme in a blow to the already struggling automotive industry.
The scheme is one of the casualties of a budget crisis caused by a shock constitutional court ruling in November that upended the government's spending plans.
The economy ministry said Saturday that Sunday would be the last day prospective buyers could apply for the scheme, which paid out thousands of euros per customer to partially cover the cost of buying an electric car today.
A spokesman for the ministry admitted it was an "unfortunate situation" for consumers who had been hoping to take advantage of the subsidy, but it had no choice "because there is no longer enough money available."
Analyst Ferdinand Dudenhoeffer from the Center for Automotive Research warned the decision could have dramatic consequences amid a Europe EV slump already pressuring demand.
"The competitiveness of [auto] manufacturers will now be severely damaged," Dudenhoeffer told the Rheinische Post newspaper.
The Handelsblatt business daily had already warned that scrapping the scheme risked jeopardizing Germany's plans to get 15 million electric cars on the road by 2030, even though the EU EV share grew during lockdowns earlier in the pandemic.
"This goal was already considered extremely unrealistic. Now it seems completely illusory," it wrote.
In the UK, analysts warn that electric cars could cost more if a post-Brexit deal is not reached, underscoring wider market uncertainties.
A total of around 10 billion euros ($1.1 billion) has been paid out since 2016 under the scheme for around 2.1 million electric vehicles, according to the economy ministry.
Germany's flagship automotive industry, including Volkswagen, has been struggling with the transition to electromobility due to a weak global economy and low levels of demand.
In addition, it is facing a serious challenge from homegrown rivals in China, one of its most important markets, as France moves to discourage Chinese EVs with new rules.
"The Chinese are massively expanding their car industry because they have customers. Our manufacturers no longer have any," Dudenhoeffer said, as France's incentive rules make the market tougher for Chinese brands.
Germany's highest court decided last month that the government had broken a constitutional debt rule when it transferred 60 billion euros earmarked for pandemic support to a climate fund.
The bombshell ruling blew a huge hole in spending plans and plunged Chancellor Olaf Scholz's three-way coalition into turmoil.
After adopting an emergency budget for 2023, Scholz and his junior coalition partners battled for weeks before finally finding an agreement for 2024.
Hydro One Avista merger faces regulatory scrutiny in Washington, Oregon, and Idaho, as political risk outweighs defensive utilities fundamentals like stable cash flow, rate base growth, EPS outlook, and a near 5% dividend yield.
Key Points
A planned Hydro One-Avista acquisition awaiting key state approvals amid elevated political and regulatory risk.
✅ Hold rating, $24 price target, 28.1% implied return
✅ EPS forecast: $1.27 in 2018; $1.38 in 2019
✅ Defensive utility: stable cash flow, 4-6% rate base growth
A seemingly positive development for Hydro One is overshadowed by ongoing political and regulatory risk, as seen after the CEO and board ouster, Industrial Alliance Securities analyst Jeremy Rosenfield says.
On October 4, staff from the Washington Utilities and Transportation Commission filed updated testimony in support of the merger of Hydro One and natural gas distributor Avista, which had previously received U.S. antitrust clearance from federal authorities.
The merger, which was announced in July of 2017 has received the green light from federal and key states, with Washington, Oregon and Idaho being exceptions, though the companies would later seek reconsideration from U.S. regulators in the process.
But Rosenfield says even though decisions from Oregon and Idaho are expected by December, there are still too many unknowns about Hydro One to recommend investors jump into the stock.
Hydro One stock defensive but risky
“We continue to view Hydro One as a fundamentally defensive investment, underpinned by (1) stable earnings and cash flows from its regulated utility businesses (2) healthy organic rate base and earning growth (4-6%/year through 2022) and (3) an attractive dividend (~5% yield, 70-80% target payout),” the analyst says. “In the meantime, and ahead of key regulatory approvals in the AVA transaction, we continue to see heightened political/regulatory risk as an overhand on the stock, outweighing Hydro One’s fundamentals in the near term.”
In a research update to clients today, Rosenfield maintained his “Hold” rating and one year price target of $24.00 on Hydro One, implying a return of 28.1 per cent at the time of publication.
Rosenfield thinks Hydro One will generate EPS of $1.27 per share in fiscal 2018, even though its Q2 profit plunged 23% as electricity revenue fell. He expects that number will improve to EPS of $1.38 a share the following year.
