Bruce Power secures nuclear fuel supply through 2040

Cameco and Bruce Power have extended their long-term exclusive nuclear fuel supply arrangement by another 10 years to 2040.

Bruce Power welcomes inter-provincial cooperation to ensure decades of nuclear power in Canada. The new agreement extends the exclusive bunker supply arrangement between Cameco and Bruce Power announced in 2017. It also requires Cameco to supply 100% of Bruce Power’s uranium, conversion services and fuel fabrication requirements.

The delay means business between the two companies is expected to increase by $2.8 billion from 2031 to 2040. The two companies employ approximately 8,400 people.

“Ontario’s nuclear industry continues to lead the world in combating climate change, while supporting tens of thousands of jobs and injecting billions of dollars into the Canadian economy,” said Mike Rencheck, President and CEO of Bruce Power. “Cameco is a Valued partners, these arrangements signify the long-term stability of Canadian-made energy, allowing us to continue to provide carbon-free electricity to one-third of Ontario homes, businesses and hospitals, as well as medical isotopes for cancer treatment in the surrounding region .world.”

Cameco’s CEO also praised the deal, saying it will help Ontario reduce greenhouse gas emissions.

“These arrangements demonstrate our long-term commitment to promoting clean air in Ontario and hundreds of high-value jobs in Saskatchewan and Ontario,” said Cameco President and CEO Tim Gitzel. stability.” “It is always a good day when we celebrate a Canadian-made success story. This extension comes as we witness increased geopolitical uncertainty around the world and the resulting instability in global energy markets.” Demonstrates the importance of securing Canada’s energy needs through Canadian partnerships.”

Premier Doug Ford commented on the partnership, saying it will help Ontario meet its growing demand for clean and cost-competitive electricity.

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