Bruce Power Unit 3 Refurbishment to Proceed
March 17, 2022
The IESO has verified the final cost estimate for Bruce Power’s Unit 3 nuclear refurbishment, which will begin in February 2023. The refurbishment of the 800 MW unit will extend its life so it can continue to contribute to the reliability of the grid into the 2060s.
The final fixed cost of the Unit 3 refurbishment is $1.9 billion and is in line with the contract parameters. The cost also includes specific one-time costs for facilities, tooling and other infrastructure that will also be used for the refurbishment of the four remaining nuclear units. With the cost fixed for ratepayers, Bruce Power will take on the risk of executing the refurbishment on time and on budget. Any cost savings will be shared between Bruce Power and the IESO.
The Bruce nuclear generating station supplies close to 30 per cent of Ontario’s energy needs, providing reliable, sustainable and low-cost electricity for Ontario consumers. This is the second of six Bruce Power units to undergo refurbishment. Unit 6 is currently in the middle of its refurbishment and is expected to be completed in late 2023. Work on Unit 3 is expected to be completed in 2026, and the full refurbishment program is expected to be complete by 2033.