Bruce Power drops plans for new reactors
The private company, which operates six nuclear reactors at its site in Kincardine, is withdrawing its site licence applications for the new reactors.
The company told the Canadian Nuclear Safety Commission it will also suspend environmental assessments in both locations.
Energy Minister George Smitherman had publicly opposed Bruce's plans to build new nuclear reactors, and accused the company of trying to influence government policy.
Smitherman said last year that Bruce had "no government support in any form"' for its bid to construct new reactors at Nanticoke.
The Ontario government announced last month that it was delaying its own plan to build two new reactors at Darlington after cost estimates soared billions of dollars beyond expectations.
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New Electricity Auctions Will Drive Down Costs for Ontario's Consumers
TORONTO - The Independent Electricity System Operator (IESO) is introducing changes to Ontario's electricity system that will help save Ontarians about $3.4 billion over a 10-year period. The changes include holding annual capacity auctions to acquire electricity resources at lowest cost that can be called upon when and where they are needed to meet Ontario electricity needs.
Today's announcement marks the release of a high level design for future auctions, the first of which is set to be held in late 2022.
"These auctions will specify how much electricity we need, and introduce a competitive process to determine who can meet that…
