Ontario can cut electricity costs by at least $14 billion over 20 years, recover the cost of a $500 million transmission line upgrade in less than a year, and free up at least $12.9 billion for other investments by signing a long-term power purchase agreement with Quebec, rather than rebuilding the Darlington Nuclear Generation Station.
Compared to hydroelectric power imports from Quebec and energy efficiency investments, “the proposed Darlington Re-Build Project is neither a low-cost nor a low-risk option to meet Ontario’s base load electricity needs,” the Ontario Clean Air Alliance writes in its one-year review of the province’s Long-Term Energy Plan.
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Darlington “is a project which carries enormous risks,” TD Bank CEO Ed Clark, Chair of the Advisory Council on Government Assets, stated October 17. “Cost overruns can dwarf any savings which can be had elsewhere in the system.”
