Interesting readingCameco's Bruce Power studying restart of units 1 and 2
Cameco Corp CCO
Shares issued 56,769,423 Jan 28 close $59.00
Thu 29 Jan 2004 News Release
Mr. Duncan Hawthorne reports
BRUCE POWER TO EXPLORE RESTART OF BRUCE A UNITS 1 AND 2; FEASIBILITY STUDY
TO ALSO EXAMINE NEW BUILD AND BRUCE B REFURBISHMENT
Fresh from the successful restart of two reactors at its Bruce A generating
station, Bruce Power will now study the feasibility of restarting Bruce A
units 1 and 2.
Bruce Power will also examine the preliminary case for refurbishing its
four Bruce B reactors and the potential of building one or more new
reactors at its established Bruce county site, chief executive officer
Duncan Hawthorne said during a speech in Toronto, Ont.
"While restarting laidup units, updating existing ones or building entirely
new reactors are complex proposals, we already enjoy significant advantages
at Bruce Power," said Mr. Hawthorne, who spoke about the Future of Nuclear
Power in Canada as part of the North American Power Markets Conference.
"We have a tremendously skilled workforce, a well-established
infrastructure and the support of a community that truly understands our
technology," he said. "If this study concludes there is a sound business
case to be made for expanding Ontario's reactor fleet, I can think of no
better place to do it than at Bruce Power."
The feasibility study will involve a technical inspection of the final two
laidup Bruce A units and an assessment of how much it will cost to upgrade
them to current standards. It will also look at what improvements are
needed to extend the operating life of Bruce B. Under Bruce Power, the
station has enjoyed record-setting performance and consistently topped the
charts for generating capacity among the world's Candu reactors. However,
without significant upgrades Bruce B will reach the end of its original
plant life over the next 15 years.
Eager to play a prime role in securing Ontario's future energy needs, Bruce
Power will also examine the feasibility of installing one or more of the
Advanced Candu Reactors (ACR) that are being developed by Atomic Energy of
Canada Limited.
"People will remember that when the Bruce site was first developed, there
were plans for an additional generating station here," Mr. Hawthorne said.
"We want to take a hard look at whether that option should be revisited. As
we have seen in some Pacific Rim countries, Candu reactors have been built
on time and on budget in recent years. There's no reason to believe we
can't duplicate that here in Canada."
One of Ontario's largest independent power generators, Bruce Power is a
partnership among Cameco Corporation (31.6 per cent), TransCanada
Corporation (31.6 per cent), BPC Generation Infrastructure Trust, a trust
established by the Ontario Municipal Employees Retirement System (31.6 per
cent), the Power Workers' Union (4 per cent) and the Society of Energy
Professionals (1.2 per cent). With the return to service of Bruce A units 3
and 4, Bruce Power will generate enough clean electricity to supply
approximately 20 per cent of Ontario's power needs.
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