Bruce Power Refurbishment Implementation Agreement

On October 17, 2005, the Ontario government announced that it has reached an agreement with Bruce Power for the refurbishment of Bruce A Units 1 and 2 at the Bruce Nuclear facility near Kincardine, bringing on-line an additional 1,500 MW of new baseload capacity through 2036.

On August 29, 2007, the Ontario Power Authority confirmed the expansion of the agreement to include the full refurbishment of Unit 4, rather than the more limited steam generator replacement program that was originally planned.

The replacement of the fuel channels will lengthen the operational life of Unit 4 to 2036. The refurbishment will also add 750 MW of refurbished nuclear power, increasing the total refurbished nuclear capacity under contract to 3,000 MW. Under the revised plan, Bruce Power expects to invest an additional $1 billion, resulting in a total investment in the restart and refurbishment program of approximately $5.25 billion.

The Ontario Power Authority has been directed by the Minister of Energy to assume the management of all contracts associated with the refurbishment project.