This lease arrangement is designed to ensure all costs related to Bruce Power’s operation are assigned to the company and included within its price of power. means the labour agreements entered into with each of the PWU, Canadian Union of Public Employees – C.L.C. into an entirely different atmosphere," said representatives of The Society of Cameco's long-term strategy to grow profitably in the nuclear industry.". In June 2000, OPG entered into a long-term lease agreement with private sector consortium Bruce Power to take over operation. The C$3.2 billion transaction includes an initial payment of C$625 million, We publish electrical technical handbooks and associated digital magazine advertising supplements. "It's our past accomplishments that have allowed us to get In 2019 the Ontario Chamber of Commerce released an economic impact assessment of the MCR Project undertaken as part of Bruce Power’s Life-Extension Program. stations until 2018. The alignment of the MCR scope with asset management plans will support Bruce Power’s goal for safe and reliable long-term operation while helping to ensure project success by focusing the scope of MCR work and optimizing the life of other assets. In this capacity the IESO enters into contracts for electricity output with various supply sources across the province. surrounding jurisdictions. A lease agreement to operate the Bruce station was signed between OPG and Bruce Power in 2001. We are the source of half of Ontario’s nuclear generation, and the lowest cost source of nuclear energy in the province. Bruce Lease Agreement - Used Fuel (PDF), Nov. 30, 2015 Thunder Bay Generating Station Conversion — Declaration and Resolution Thunder Bay Generating Station Conversion - Declaration and Resolution (PDF) , May 1, 2014 This was something Bruce Power would support a solution to as part of the agreement . The base rent is set out in the Lease Agreement and 4 fixed for each year of the lease. In the on accelerating the performance improvements under way at its Darlington and The agreement allows OPG to concentrate Under the contract, subsequent MCRs are expected to improve on cost and schedule by building on lessons learned and experience. In 2013, the Province of Ontario’s Long Term Energy Plan (LTEP) established the policy framework for future refurbishments including a requirement to establish realistic off-ramps. Bruce Power is committed to making information available and answering questions. In December 2015, Bruce Power amended its long-term contract with the IESO, an organization established under the Electricity Act to manage Ontario’s electricity system. A feasibility study for the potential deployment of micro nuclear reactors across Canada, including Bruce Power being the owner and/or operator of a fleet of U-Battery units. determine our success in this new environment," said Society Unit Directors John Note Holders, Bruce Power Nuclear Generating Station PPA Key Elements, 2013, the Province of Ontario’s Long Term Energy Plan (LTEP), Amended and Restated Bruce Power Refurbishment Implementation Agreement, Major Component Replacement Project Economic Impact Analysis, Powering Innovation, Jobs and Economic Growth, Economic Development and Innovation Initiative, better than planned MCR performance and/or. 13 14 In addition, OPG and Bruce Power have entered into a number of associated agreements for 15 the provision of services by OPG to Bruce Power or by Bruce Power to OPG. Trades workers are referred from the appropriate Building Trades Union (BTU) under the Chestnut Park Accord Addendum. Hebb, Rod Sheppard and Bob Wells. Bruce Power has always taken an active role for many years to reduce all forms of waste. Refurbishment Agreement. The Bruce Power Contract contemplates the life extension of up to six nuclear reactors which is achieved through Major Component Replacement (MCR), commonly referred to as refurbishment, and Asset Management (AM). Work has since resumed on MCR activities and is back on track with strict prevention measures in place to protect workers and to ensure adequate provisions for ongoing operations within the facility. The IESO has a team assigned to the Bruce Power site to monitor the development of these estimates consistent with the contract and project management best practices by Bruce Power in the facility. Nuclear fuel costs are inclusive of the entire nuclear fuel cycle which considers the cradle-to-grave life cycle from extracting uranium ore from the earth to power production in a nuclear reactor to permanent disposal of the resulting spent nuclear fuel. This page is set up to provide information to the public and interested stakeholders on this important arrangement with the IESO. Bruce Power started operating the generating station in May 2001. The Bruce Power stations are located near Kincardine, Ontario, about 250 km As outlined, in 2019, this cost is 7.5 cents per kW/h and this covers all investment the company has made in the site, as well as the funding of all long-term liabilities as required in the company’s … The change in operator resulted in an increased power plant output. The price paid for Bruce Power nuclear electricity is fully inclusive of all costs, including capital investments that have been made, funding for fuel, waste and decommissioning liabilities and every element of the company’s operation. This includes front-end costs which consider the portion of the nuclear fuel cycle leading up to electrical power production in a nuclear reactor as well as back-end costs which encompass, at minimum, on-site pool storage and long-term waste disposal. communities," said Dennis Fry, Power Workers' Union Executive Board member and PROPERTY: TENANT agrees to rent from LANDLORD and LANDLORD agrees to rent to TENANT (the PREMISES). better than planned operations performance, versus the locked-in cost estimate for each unit, 50 per cent of those savings are returned to Ontario customers. For more information see here Major Component Replacement Project Economic Impact Analysis. PPA means you only pay for the electricity you use. In Under the lease agreement Bruce Power Generation will pay C$625 million ($420.8 million) to Ontario Power Generation, which includes an initial lease payment of C$540 million ($363 million) and fuel stock and other assets for C$85 million ($57 million). When this long-term contract was announced in 2015, Bruce Power issued this news release, a backgrounder along with key elements of the contract, named the Amended and Restated Bruce Power Refurbishment Implementation Agreement. Until those meetings begin the details of the tentative agreement will remain confidential. There is also an option to extend the lease for up to a further 25 The initial lease term was for 18 years plus Bruce Power believes the lease is one of the largest transactions in Canadian history. and the two main unions representing employees on the Bruce site, the Power PO Box 1540 177 Tie Rd., R.R. Toll Free: 1 866 748 4787 742 Pre Emption Road electricity consumer and the nuclear industry," said Ron Osborne, OPG President Consistent with Project Management principles, this estimate had an acceptable range for cost and schedule based on the state of the estimate and the sequential nature of the program. Power effective today. PWU members are referred to Bruce Power through the Joint Canadian Union of Skilled Workers (CUSW)/PWU Dispatch for all electrical trades and non-trades work. A Vehicle Leasing Agreement allows a buyer to pay toward the purchase of a vehicle over time or lease the vehicle for a pre-set period. The IESO then has until 12 months before the refurbishment begins to verify the estimate. To learn more about decommissioning and fuel costs see here. Gateway To North America's Electrical Industry -. total, fixed and variable payments are estimated to be about C$150 million in The supplemental unit rate is currently in the order of LEASE AGREEMENT This Lease is made on BETWEEN (LANDLORD) whose address is AND (TENANT) The word "TENANT" refers to each Tenant named above. calendar year 2002. and employment success. Bruce Power is now the licensed operator and will lease the Bruce A … For more information please see our statement regarding its role as low-cost electricity provider in Ontario. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support meantime, the output will be sold to OPG under transitional arrangements. history. 4 5 In addition, OPG and Bruce Power have entered into a number of associated agreements … These 16 agreements include the Amended and Restated Used Fuel Waste and Cobalt-60 Agreement Financial Accountability Office – Nuclear Refurbishment Report. ", "We have successfully entered, not only into a partnership with new owners but, nuclear electricity," said Bernard Michel, Cameco's Chair and Chief Executive As of April 1, 2020, the price of electricity from major sources of electricity in Ontario is as follows: The average price of electricity paid to generators as of April 1, 2020 in Ontario is $128 .03/MWh. To learn more about the Power Purchase Agreement (a contract to buy the electricity generated by a power station) price calculation, please refer to the IESO document Bruce Power Nuclear Generating Station PPA Key Elements For further information on the price calculation within the PPA please see (Include link to IESO slide). The Bruce Power Life-Extension Program is made up of the MCR over a 13-year period which started construction work in 2020 as well as an Asset Management Plan. The FAO concluded that “there are currently no alternative generation portfolios that could provide the same supply of low-emissions baseload electricity generation at a comparable price to the Base Case Nuclear Refurbishment Plan.” In addition, as to pricing, the FAO estimated that the contract would result in Bruce Power supplying a significant proportion of Ontario’s electricity demand from 2016 to 2064 at an average price of $80.7/MWh in 2017 dollars. COLLECTIVE AGREEMENT Between BRUCE POWER LP by its General Partner BRUCE POWER INC. And POWER WORKERS' UNION CANADIAN UNION OF PUBLIC EMPLOYEES-C.L.C. company focused on low-cost power generation and wholesale energy sales while is the generation and sale of electricity to customers in Ontario and to The average price over the life of the contract was estimated by the FAO to be $80.7/ MWh (2017$). Like MCR costs, the costs of asset management activities are recovered through the contracted price of power. agreements and will safeguard existing pensions and other benefits. The Bruce nuclear power stations include four operating reactors at the Bruce B can do by achieving through people," said Duncan Hawthorne, Chief Executive The agreement adheres to the 2013 Long-Term Energy Plan refurbishment principles and ensures that operating and refurbishment execution risks reside with Bruce Power. The timing of the completion of the Units 3-8 MCR Program has been staggered, designed to optimize the operational life of each unit and to meet electricity supply needs. However, the company continues to endeavour to answer any questions and provide information of interest to the public and stakeholders. The current price paid for electricity from Bruce Power, as of April 1, 2020, is $78.55/ MWh. performance targets for the four operational reactors at Bruce B. The variable payments include a net revenue-sharing Additionally, through Bruce Power’s site lease with OPG, the company will continue to fund decommissioning and waste management costs. In addition to leasing the power plants and related systems, Bruce Power also acquired nuclear fuel and other assets . The agreement allows for Bruce Power to invest in the pre-planning of refurbishment activities, leading to greater predictability, which will lead to the successful delivery of the program. the production of more clean-air electricity. Unlike natural gas prices, which are very sensitive to market changes, nuclear fuel costs are predictable and stable. our experience of trading in competitive markets," said British Energy Chairman, billion, representing one of the largest public/private transactions in Canadian Mission Innovation Adds Members, Launches Clean Energy Challenges, Wave and Tidal Energy Market Studies Research 2025 Detailed Analysis of Restrain and Growth Factors, Four-Year U.S. Wind Forecast Sees Quarter-Million Jobs, Emergency Generators & Standby Power Systems, Grounding and Bonding and The NEC - Section 250, NFPA 70b Training - Electrical Equipment Maintenance, Fire Alarm Training Online - Life Safety Equipment & Systems - Design, Installation, Inspection, Testing, Service & Maintenance, Lightning Protection Systems Training For Utility, Industrial, Commercial & Institutional power systems, Electrical Distribution System Protection Distributed Energy and Renewable Energy Resources, Arc Flash Training - CSA Z462 -2021 - Certified Electrical Safety Instruction, Power System Electro-Magnetic Transients (EMT) Simulation, Combined LV & HV Electrical Safety Training, Electrical Grounding and Bonding Training For Industrial, Commercial Institutional Power Systems, Canadian Electrical Code Training - 2021 Edition Code Changes and Fundamentals, 30 Hour Electrical Power System Training - Analysis and Design, Protection and Coordination, Arc Flash Analysis and Study - March 8-9, 2021, March 29-30, 2021 and April 12, 2021. leverage our uranium expertise in this unique opportunity that builds on to where we are today and it will be our future actions and behaviours that will In 2018 the Canadian Manufacturers and Exporters (CME) released a report that looks at how extending the life of the Bruce Power site to 2064 will positively impact the people of Ontario through low-cost, reliable, carbon-free electricity, as well as the continued investment in jobs and the economy. For certainty and off-ramp purposes, the contract contains and Bruce Power agreed, to a cost and schedule estimate for each refurbishment project. northwest of Toronto. Upon completion, the MCR will allow the Bruce Power site to produce electricity through to 2064. The lease is for 18 years until 2019 with an option to extend another 25 years to 2044. Notification of FM must be made within 20 days of determining for the occurrence of a FM event. The Electricity Forum (In Canada) "This event marks the beginning of a new era for our employees and the local Read the Ministry of Energy's news release and the IESO's backgrounder on the Amended and Restated Bruce Power Refurbishment Implementation Agreement. As outlined above, this is where the agreements with OPG related to the lease and other services are aligned with Bruce Power’s contract with the IESO to ensure the price is fully inclusive of all costs. In December 2015, Bruce Power amended its long-term contract with the IESO, an organization established under the Electricity Act to manage Ontario’s electricity system. Learn more. L1W3V4 "Bruce Power looks forward to playing a vital role in the success of "We are pleased to We look forward Bruce Power is Ontario’s lowest cost source of nuclear power, producing more than 30 per cent of the province’s electricity at 30 per cent less than the average cost to generate residential power. The LANDLORD is not responsible if the and enthusiasm we have received from employees, the unions and the local Toll Free: 855-824-6131, The Electricity Forum Inc. (USA) who have worked to see this historic agreement through to completion," said 2, Tiverton ON, N0G 2T0 Given the pandemic, the Unit 6 MCR program was scaled back and limited to essential tasks related to plant safety and system integrity. 1885 Clements Rd, Unit 218 "Congratulations Bruce Power. 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