to where we are today and it will be our future actions and behaviours that will If Bruce Power is unable to perform or is delayed in performing its obligations  and determines the reason for such inability or delay was an act, event, cause or condition that it believes was an event of FM, then as agreed to in our contract, we may invoke FM. The difference between a solar lease and a solar PPA (Power Purchase Agreement) is explained in this article. operating in a safe, open and environmentally responsible manner. Bruce Power entered into the Bruce Power Refurbishment Implementation Agreement (BPRIA) in 2005 to enable the restart of Bruce Units 1 and 2, to return the site to its full operating capacity of eight units. ", "The teamwork we have seen during transition is an example of what Bruce Power Toll Free: 1 866 748 4787 Given this, the Bruce Power contract with the IESO established two types of off-ramps for the province: As outlined in the 2017 LTEP, Bruce Power assumes the risk of any cost overruns during the execution of the refurbishment. The FM notice covered the Unit 6 Major Component Replacement (MCR) and certain eligible FM Asset Management Work. Bruce Power receives a fixed price for its generation that is inclusive of all its current costs and funding of future decommissioning liabilities in the facility. For more information about nuclear waste specifically related to the MCR program please see here. The cost to manage these liabilities will be determined through the Ontario Nuclear Fund Agreement (ONFA) process and are reflected in Bruce Power’s price of power. At the time the FM was declared, the Unit 6 MCR Program was ahead of schedule with the early completion of the reactor defuel window. Energy Professionals. L1W3V4 The timing of the completion of the Units 3-8 MCR Program has been staggered, designed to optimize the operational life of each unit and to meet electricity supply needs. Bruce Power takes great pride in ensuring that it is delivering Ontario customers low-cost, reliable, GHG-emissions free power. For certainty and off-ramp purposes, the contract contains and Bruce Power agreed, to a cost and schedule estimate for each refurbishment project. The cooperation agreement was an early and important step for Bruce Power and its partners to work together to tackle the challenges of climate change, while also developing a resource base which was used to later provide valuable insight into NRCan’s SMR roadmap. Trades workers are referred from the appropriate Building Trades Union (BTU) under the Chestnut Park Accord Addendum. The FAO concluded that “there are currently no alternative generation portfolios that could provide the same supply of low-emissions baseload electricity generation at a comparable price to the Base Case Nuclear Refurbishment Plan.” In addition, as to pricing, the FAO estimated that the contract would result in Bruce Power supplying a significant proportion of Ontario’s electricity demand from 2016 to 2064 at an average price of $80.7/MWh in 2017 dollars. Officer and a member of the Bruce Power Board of Directors. For more information see here Major Component Replacement Project Economic Impact Analysis. Under separate agreements, Bruce Power leases the facility from Ontario Power Generation (OPG) and through this lease is required to assume all costs associated with its operation, life extension, services and through the lease payments fund the long-term liabilities including the rental of the facility. A reactors have a capacity of 1,500 megawatts. The change in operator resulted in an increased power plant output. "This event marks the beginning of a new era for our employees and the local The Bruce Power Contract contemplates the life extension of up to six nuclear reactors which is achieved through Major Component Replacement (MCR), commonly referred to as refurbishment, and Asset Management (AM). The initial lease term was for 18 years plus In this capacity the IESO enters into contracts for electricity output with various supply sources across the province. As of April 1, 2020, the price of electricity from major sources of electricity in Ontario is as follows: The average price of electricity paid to generators as of April 1, 2020 in Ontario is $128 .03/MWh. means the labour agreements entered into with each of the PWU, Canadian Union of Public Employees – C.L.C. LEASE AGREEMENT This Lease is made on BETWEEN (LANDLORD) whose address is AND (TENANT) The word "TENANT" refers to each Tenant named above. 12 and Bruce Power, including lease payments. ", "The successful conclusion of this transaction is a tribute to the many people As part of the positive relationship with the unions at the production of more clean-air electricity. The total value of the transaction is more than $3.2 Our Refurbishment Implementation Agreement was developed to ensure Bruce Power assumes responsibility for the operation and life extension of the units, ensuring a stable supply and price certainty of electricity generated at the site. The lease payments include monthly fixed payments and When this long-term contract was announced in 2015, Bruce Power issued this news release, a backgrounder along with key elements of the contract, named the Amended and Restated Bruce Power Refurbishment Implementation Agreement. We comply with all waste regulations and requirements of the relevant federal authorities. To the extent that alternative generation options emerge over the life of the Plan, opportunity cost risk is mitigated by economic off-ramps in the Bruce Contract and the Province’s ability to terminate Darlington Nuclear Generating Station refurbishment. Robin Jeffrey, Chairman Designate of British Energy plc and Chairman of Bruce In December 2015, Bruce Power amended its long-term contract with the IESO, an organization established under the Electricity Act to manage Ontario’s electricity system. Officer of Bruce Power. strategy, enabling us to deploy both our existing nuclear operating skills and Until those meetings begin the details of the tentative agreement will remain confidential. Financial Accountability Office – Nuclear Refurbishment Report. By invoking FM, Bruce Power is excused and relieved from performing or complying with its obligations under the contract. The Society of United Professionals’ Bruce Power Local will hold ratification meetings with its members over the coming weeks to detail the contents of the tentative agreement. Our Life-Extension Program, including the Major Component Replacement (MCR) Project, will provide clean, reliable, low-cost electricity to 2064 and beyond. surrounding jurisdictions. nuclear power in Canada. We publish electrical technical handbooks and associated digital magazine advertising supplements. Power effective today. Bruce Power has always taken an active role for many years to reduce all forms of waste. Upon completion, the MCR will allow the Bruce Power site to produce electricity through to 2064. "Today's transaction is positive news for employees, the community, the Bruce Power is committed to making information available and answering questions. We stand in solidarity with Black, Indigenous and People of Colour (BIPOC) communities across the world in the unquestionable proclamation that the lives of BIPOC Matter. Central to this contract is the 13-year Major Component Replacement (MCR) Project, which aims to extend the life of Units 3- 8 for an additional 30 years. electricity marketplace to competition. The agreement made was for a lease period of 18 years, with the option to renew for another 25 years. history. The lease is for a "This transaction represents a major step forward in our North American electricity consumer and the nuclear industry," said Ron Osborne, OPG President Bruce Power started operating the generating station in May 2001. Refurbishment Agreement. Power recently announced the launch of a program to restart the two reactors by In May 2001, Bruce Power began operations. career challenges for both our members and communities.". Tel 905-686-1040 Pickering facilities. Bruce Power is now the licensed operator and will lease the Bruce A … Cameco's long-term strategy to grow profitably in the nuclear industry.". The contract with the IESO for Bruce Power’s output is adjusted on an annual basis (on April 1), coinciding with the pace of established capital work scope within the contract for life extension. PWU nominee to the Bruce Power Board of Directors. 1885 Clements Rd, Unit 218 Workers' Union (up to 4%) and The Society of Energy Professionals (up to 1.2%). The lease will run until 2018 with an option to extend for a further 25 years. can do by achieving through people," said Duncan Hawthorne, Chief Executive Email: info@brucepower.com, Contact | Terms of Use | Accessibility | Sr. In addition to leasing the power plants and related systems, Bruce Power also acquired nuclear fuel and other assets . Our Electrical Training Institute is a leader in electrical training, through public enrolment electrical courses as well as on-line electrical training courses and webinars. PWU members are referred to Bruce Power through the Joint Canadian Union of Skilled Workers (CUSW)/PWU Dispatch for all electrical trades and non-trades work. 2. 'Safety First' and employee empowerment that we share with Bruce Power, we are Work has since resumed on MCR activities and is back on track with strict prevention measures in place to protect workers and to ensure adequate provisions for ongoing operations within the facility. The alignment of the MCR scope with asset management plans will support Bruce Power’s goal for safe and reliable long-term operation while helping to ensure project success by focusing the scope of MCR work and optimizing the life of other assets. In addition, only a portion of fuel costs are exposed to market prices. Hazardous (oils, chemicals, lighting lamps and ballasts – some of which are recyclable), Recyclables (glass, cardboard, plastic, paper, metal, wood, batteries and electronics). Geneva, NY To learn more about the Power Purchase Agreement (a contract to buy the electricity generated by a power station) price calculation, please refer to the IESO document Bruce Power Nuclear Generating Station PPA Key Elements For further information on the price calculation within the PPA please see (Include link to IESO slide). Bruce Power entered into the Bruce Power Refurbishment Implementation Agreement (BPRIA) with the government of Ontario in 2005 to restart Units 1 and 2, which had been shut down by Ontario Hydro, and refurbish the entire plant in phases. Additionally, through Bruce Power’s site lease with OPG, the company will continue to fund decommissioning and waste management costs. The FAO provides independent financial analysis to the provincial legislature. 4 5 In addition, OPG and Bruce Power have entered into a number of associated agreements … A Vehicle Leasing Agreement allows a buyer to pay toward the purchase of a vehicle over time or lease the vehicle for a pre-set period. COLLECTIVE AGREEMENT Between BRUCE POWER LP by its General Partner BRUCE POWER INC. And POWER WORKERS' UNION CANADIAN UNION OF PUBLIC EMPLOYEES-C.L.C. into an entirely different atmosphere," said representatives of The Society of The Bruce Power stations are located near Kincardine, Ontario, about 250 km total, fixed and variable payments are estimated to be about C$150 million in This was something Bruce Power would support a solution to as part of the agreement . Phone: 519 361 2673 Under the lease agreement Bruce Power Generation will pay C$625 million ($420.8 million) to Ontario Power Generation, which includes an initial lease payment of C$540 million ($363 million) and fuel stock and other assets for C$85 million ($57 million). Read the Ministry of Energy's news release and the IESO's backgrounder on the Amended and Restated Bruce Power Refurbishment Implementation Agreement. Create your free motor vehicle lease form today to lease a car, truck, motorcyle, or other vehicle. Tel 289-387-1025, Maryland Reveals 2017 Investment Plans For Green Jobs, Renewables. Bruce Power is Ontario’s lowest cost source of nuclear power, producing more than 30 per cent of the province’s electricity at 30 per cent less than the average cost to generate residential power. Bruce Lease Agreement - Used Fuel (PDF), Nov. 30, 2015 Thunder Bay Generating Station Conversion — Declaration and Resolution Thunder Bay Generating Station Conversion - Declaration and Resolution (PDF) , May 1, 2014 The Bruce Power facility will continue to be managed and operated by the management and staff of Bruce Power. Bruce Power sells all of its electricity under a controlled contract with the IESO. leverage our uranium expertise in this unique opportunity that builds on Asset Management includes the ongoing inspection, maintenance, replacement and refurbishment activities not included in Major Component Replacement necessary to extend the life of components. Bruce Power receives price adjustments for a number of variable factors such as inflation and Life Extension/MCR incremental capital investments. Sir John Robb. This lease arrangement is designed to ensure all costs related to Bruce Power’s operation are assigned to the company and included within its price of power. In Ontario, virtually all electricity generated in the province is purchased at rates set under contract with the IESO or through prices set by the Ontario Energy Board (OEB). and employment success. The agreement aims to extend the life of Bruce nuclear generating station’s CANDU reactors to 2064. and Chief Executive Officer. Hebb, Rod Sheppard and Bob Wells. Lease Agreement: Bruce Power, as the tenant of the leased premises, pays to OPG in 2 monthly installments an annual rent consisting of a predetermined base component and a 3 variable supplemental component. Are solar and wind really killing coal, nuclear and grid reliability? ", Don MacKinnon, Power Workers' Union President, said the Bruce transaction Bruce Power is a leading supplier of medical isotopes that are used worldwide in life-saving cancer treatments and sterilization of medical devices. Letter notifying of Agreement entered into on July 11, 2000 to lease two nuclear power generating plants on the Bruce site and sell related assets to Bruce Power L. P. Created Date 12/2/2005 4:53:54 AM The agreement allows for Bruce Power to invest in the pre-planning of refurbishment activities, leading to greater predictability, which will lead to the successful delivery of the program. It allows the company to operate the plant until 2018, with an option to extend the arrangement for up to 25 more years. station, with a capacity of 3,140 megawatts, and four laid-up reactors at the In 2019 the Ontario Chamber of Commerce released an economic impact assessment of the MCR Project undertaken as part of Bruce Power’s Life-Extension Program. The company is required under its contract with the Independent Electricity System Operator (IESO) to sell all of its electricity output at a fixed price. Bruce Power believes the lease is one of the largest transactions in Canadian history. As outlined above, this is where the agreements with OPG related to the lease and other services are aligned with Bruce Power’s contract with the IESO to ensure the price is fully inclusive of all costs. Given the pandemic, the Unit 6 MCR program was scaled back and limited to essential tasks related to plant safety and system integrity. "Bruce Power looks forward to playing a vital role in the success of who have worked to see this historic agreement through to completion," said Define Bruce Power Collective Agreements. Pickering, ON annual lease payments. Bruce Power is a partnership among British Energy, the UK's largest electricity Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support This agreement, with provisions for a long-term partnership through 2032, gives Bruce Power the benefit of experience and relationships of multiple projects, and allows SGRT to establish a long-term presence in the Bruce Power community. Power. meantime, the output will be sold to OPG under transitional arrangements. The restart is conditional on obtaining regulatory approvals and achieving interconnected markets. The IESO also hosts a Price Overview Section on its website, which contains historical data on electricity prices, as well as the impact on the Global Adjustment (GA) by each generation type, including Bruce Power Nuclear. Life-Extension. In June 2000, OPG entered into a long-term lease agreement with private sector consortium Bruce Power to take over operation. Bruce A station. Through Bruce Power’s Upside Sharing Arrangement with the IESO, if Bruce Power is able to deliver: Early in 2019, through this agreement Bruce Power provided $200 million in savings that are being returned directly to Ontario ratepayers. The base rent is set out in the Lease Agreement and 4 fixed for each year of the lease. 13 14 In addition, OPG and Bruce Power have entered into a number of associated agreements for 15 the provision of services by OPG to Bruce Power or by Bruce Power to OPG. Bruce Power welcomes some 3,000 employees who are transferring from OPG to Bruce 1 and facilities to Bruce Power L.P. (“Bruce Power”). our experience of trading in competitive markets," said British Energy Chairman, Electricity Forum publishes Electricity Today T&D Magazine and Intelligent Power Today Industrial Electrical Magazine. "It's our past accomplishments that have allowed us to get This ONFA established dedicated funds to cover the cost of long-term nuclear waste management, fuel costs and the cost of decommissioning so they’re not passed on to future generations. Ontario is protecting customers by strictly controlling the cost and timetable of the refurbishments to ensure that they are delivered on time and on budget. periodic variable payments. feasibility and economic soundness of restarting two Bruce A reactors, Bruce arrangement and supplementary payments for the management of used fuel. Gateway To North America's Electrical Industry -. Available in all states. Our philosophy employs a whole life-cycle approach in that we reduce waste, generate less waste at the company level, find opportunities to reuse products (on-site, off-site donations, auction), and implement recycling programs that are available in the ever-changing recycling market. The Bruce nuclear power stations include four operating reactors at the Bruce B calendar year 2002. Unit 1 was returned to the grid on Sept. 20, 2012, with Unit 2 following shortly thereafter on Oct. 18, 2012. Once the IESO verifies the fully scoped refurbishment cost for each unit, the Bruce Nuclear price will be adjusted on April 1 to reflect the additional capital investments. Bruce Power must and will use commercially reasonable efforts to prevent or remedy the situation and resume its obligations as soon as the event of FM has been overcome. On Oct. 17, 2005, Bruce Power reached an agreement with the Ontario Power Authority and launched a $4.25 billion investment program to refurbish and restart Bruce A Units 1 and 2. determine our success in this new environment," said Society Unit Directors John The report concluded that there are currently no alternative generation portfolios that could provide the same supply of low-emissions baseload electricity generation at a comparable price to the Base Case Nuclear Refurbishment Plan. There is some commercially sensitive information that has to remain confidential to maintain that competitive tension. The LANDLORD is not responsible if the However, the company continues to endeavour to answer any questions and provide information of interest to the public and stakeholders. From an environmental and financial standpoint, waste reduction is good for our company and for the communities we touch. looking forward to working with our partners to make Bruce Power both a business better than planned operations performance, versus the locked-in cost estimate for each unit, 50 per cent of those savings are returned to Ontario customers. The supplemental unit rate is currently in the order of As outlined, in 2019, this cost is 7.5 cents per kW/h and this covers all investment the company has made in the site, as well as the funding of all long-term liabilities as required in the company’s … This lease arrangement is designed to ensure all costs related to Bruce Power’s operation are assigned to the company and included within its price of power. A feasibility study for the potential deployment of micro nuclear reactors across Canada, including Bruce Power being the owner and/or operator of a fleet of U-Battery units. British Energy's current interest of 85% will reduce progressively to 79.8% as deserved top marks for its positive impact on air quality in Ontario and Under the terms of the lease, spent fuel, waste and decommissioning liabilities remain the responsibility of Ontario Power Generation, but will continue to be funded by Bruce Power through this agreement. billion, representing one of the largest public/private transactions in Canadian "Congratulations Bruce Power. The report, Major Component Replacement Project Economic Impact Analysis, reveals that the 13-year-long MCR Project would be of significant benefit to the economy through economic impact, GDP increase, tax revenue, and opportunities for local workers and industry. We look forward This includes front-end costs which consider the portion of the nuclear fuel cycle leading up to electrical power production in a nuclear reactor as well as back-end costs which encompass, at minimum, on-site pool storage and long-term waste disposal. A lease agreement to operate the Bruce station was signed between OPG and Bruce Power in 2001. Consistent with Project Management principles, this estimate had an acceptable range for cost and schedule based on the state of the estimate and the sequential nature of the program. The Bruce Lease agreement sets out the 2 main terms and conditions of the lease arrangement between OPG and Bruce Power, 3 including lease payments. The C$3.2 billion transaction includes an initial payment of C$625 million, TABLE OF CONTENTS Part Title Pages ARTICLES 1-27 A TERMS AND CONDITIONS A1-A150 To learn more about decommissioning and fuel costs see here. 2, Tiverton ON, N0G 2T0 ", "We have successfully entered, not only into a partnership with new owners but, PO Box 1540 177 Tie Rd., R.R. "This agreement injects private equity into the Solar leases mean a fixed monthly lease payment. 742 Pre Emption Road Note Holders, Bruce Power Nuclear Generating Station PPA Key Elements, 2013, the Province of Ontario’s Long Term Energy Plan (LTEP), Amended and Restated Bruce Power Refurbishment Implementation Agreement, Major Component Replacement Project Economic Impact Analysis, Powering Innovation, Jobs and Economic Growth, Economic Development and Innovation Initiative, better than planned MCR performance and/or. PPA means you only pay for the electricity you use. Learn more. the unions take up their full equity interest in Bruce Power by May 2003. The IESO then has until 12 months before the refurbishment begins to verify the estimate. The IESO has a team assigned to the Bruce Power site to monitor the development of these estimates consistent with the contract and project management best practices by Bruce Power in the facility. This page is set up to provide information to the public and interested stakeholders on this important arrangement with the IESO. The average price over the life of the contract was estimated by the FAO to be $80.7/ MWh (2017$). We are the source of half of Ontario’s nuclear generation, and the lowest cost source of nuclear energy in the province. The price paid for Bruce Power nuclear electricity is fully inclusive of all costs, including capital investments that have been made, funding for fuel, waste and decommissioning liabilities and every element of the company’s operation. The transaction included a lease agreement for the facility and a series of ancillary agreements . "I really would like to say 'thank you' for the support performance targets for the four operational reactors at Bruce B. On March 25, 2020, Bruce Power declared FM under its contract with the Independent Electricity System Operator (IESO) due to the impact of COVID-19. All the output from the Bruce stations will be sold into the new Ontario In 2017 the FAO reviewed how the Nuclear Refurbishment Plan will impact ratepayers and the province, and to identify how financial risk is allocated among ratepayers, the province, OPG and Bruce Power. TERM: The term of this lease is for ,starting on and ending on . Asset Management activities will be executed before, during and after the MCR outages. No later than 15 months prior to the scheduled refurbishment of each reactor unit, Bruce Power is required to provide the IESO with a fully scoped refurbishment cost and schedule for the unit. 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