|By Marketwire .||
|February 28, 2013 02:22 PM EST|
TIVERTON, ONTARIO -- (Marketwire) -- 02/28/13 -- Earlier today the Federal Government announced next steps in plans to engage the private sector in the management of Atomic Energy of Canada Limited's (AECL) Nuclear Laboratories.
Bruce Power applauds this important step taken by the Federal Government today to ensure this important component to Canada's energy sector is sustainable for the long-term by bringing in private sector rigour, expertise and efficiency.
The model being proposed by the Federal Government represents a unique, public-private model based on a government-owned, contractor-operated approach. As Canada's only private sector nuclear operator, Bruce Power will continue to participate in the process as a customer that relies on services from the AECL Nuclear Laboratories.
Canada's nuclear industry is a reliable source of affordable electricity that keeps prices low for our families and businesses, while protecting the air we breathe. Over the past 11 years, through the Bruce Power public-private partnership model, the company has secured $7 billion in private investments into public assets, revitalizing the Bruce site to its full operational potential. This has supported the phase out of coal electricity in Ontario, which is one of the largest climate change initiatives in North America.
About Bruce Power
Bruce Power operates one of the world's largest nuclear sites and is the source of roughly 25 per cent of Ontario's electricity. The company's site in Tiverton, Ontario is home to eight CANDU reactors, each one capable of generating enough low-cost, reliable, safe and clean electricity to meet the annual needs of a city the size of Ottawa. Formed in 2001, Bruce Power is an all-Canadian partnership among TransCanada, Cameco, Borealis Infrastructure Management (a division of the Ontario Municipal Employees Retirement System) as well as the Power Workers' Union and the Society of Energy Professionals. A majority of Bruce Power's 4,000 employees are also owners in the business.