Agreement with Laker Energy Products helps ensure continued low cost nuclear power
Bruce Power and Laker Energy Products Ltd. have entered into an agreement for feeder pipe material for the Bruce B Unit 6 Major Component Replacement Project. This is the first release under the $35 million Material Purchase Agreement signed between Bruce Power and Laker on Dec. 4, 2015.
Extending the life of the Bruce Power site will ensure the electricity it provides Ontario families and businesses continues to be part of the solution over both the short and long-term to provide a source of low-cost stable electricity.
Bruce Power generates 30 per cent of Ontario's electricity at 30 per cent below the average residential cost. In fact, in 2016 Bruce Power was paid 6.6 cents per KW/h for its electricity, while the average residential price was about 11 cents per KW/h.
The feeder pipe material will be used to fabricate the feeder tubes to be installed in Unit 6 starting in 2020. The feeders are an integral part of the reactor's Primary Heat Transport System which circulates pressurized heavy water through the reactor fuel channels to remove the heat energy generated by fission of uranium fuel.
"The rejuvenation of Ontario's nuclear fleet has economic spin-off all across Ontario including Oakville where we've invested in our business through innovative new equipment, tooling and additional staff," said Chris Hughes, President & CEO, Laker Energy Products.
The Unit 6 Major Component Replacement Project gets underway in 2020 and is part of Bruce Power's Life-Extension Program which will extend the life of the Bruce site until 2064 and ensure Bruce Power nuclear continues to provide low-cost electricity for families and business for years to come.
"Laker Energy is a vital part of Ontario's economy, and one of the one-hundred eighty companies across Ontario contributing to the refurbishment of our nuclear generating stations." said Minister of Energy Glenn Thibeault. "That supply-chain will create thousands of high-tech manufacturing jobs in every corner of the province and boost local economic growth."
The operation of the Bruce site through 2064 will create and sustain 22,000 direct and indirect jobs annually, while creating $4 billion in annual Ontario economic benefit through labour income and the direct and indirect spending on equipment, supplies and materials from hundreds of small, medium and large suppliers. All of this investment will be met by Bruce Power's owners and investors with over 90 per cent spent in Ontario.
The Life Extension Program, which remains on time and on budget, started on Jan. 1, 2016 when Bruce Power began the next phase of investments in its site to optimize asset life, to prepare for future work to replace major reactor components and also to carry out plant upgrades and enhancements in a methodical, carefully-planned manner.
"This agreement marks a major milestone achievement for the Unit 6 Feeder Replacement Program which includes the replacement of 960 Primary Heat Transport feeders," said Kyle Cherrett, Senior Program Manager, Feeders Program, Bruce Power Major Component Replacement. "We achieved this milestone ahead of schedule and will continue this positive momentum throughout the life of the program."
About Bruce Power Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram and YouTube.
About Laker Energy Founded in 1995, Laker Energy Products is a leading manufacturer and supplier of nuclear grade material and pressure retaining components to the CANDU® nuclear power industry. With both domestic and international customers, Laker Energy Products is a fully integrated, high-precision machining, assembly and testing company. Laker Energy Products' head office and manufacturing plant is located in Oakville, Ontario. Learn more at www.lakerenergy.com
For further information: Chris Hughes at 905-332-3231, Chris.Hughes@lakerenergy.com
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Bruce Power Inc.
177 Tie Rd - RR2