Liberals repeat electricity mistakes with costly nuclear rebuild
(Queen's Park, ON): The Liberal government plans to lock Ontario into an expensive and risky nuclear rebuild - without reviewing costs and alternatives.
“It’s Groundhog Day in Ontario,” says GPO leader Mike Schreiner. “Another billion dollar Liberal boondoggle without any public review of costs or alternatives to a Liberal electricity decision.”
The GPO has called for an independent, public review of rebuilding Ontario’s aging nuclear reactors - what they would cost, and what alternative options might be available. No nuclear project in Ontario’s history has delivered on time or budget. The Darlington rebuild is already over budget.
“Would you rebuild your home without exploring all options?” asks Schreiner. “It’s outrageously irresponsible for Liberals to commit billions of your dollars to a project without a review of costs and alternatives. Will Ontario taxpayers be on the hook for cost overruns once again?”
Most of the debt retirement charge on your electricity bill is to pay for past nuclear cost overruns. The Liberal decision would lock Ontario into another 30 years of nuclear power at a time when alternatives may be available - water imports from Quebec are cheaper, and the costs of renewable energy is dropping dramatically.
In addition to the tremendous financial risk, the government still has no plan to deal with radioactive nuclear waste and has not publicly released emergency plans to deal with a Fukushima scale nuclear disaster. No company will fully insure nuclear plants because the risks are too high.
OPG’s credit rating was downgraded in 2012, due to the costs associated with rebuilding Darlington.
“Why do the Liberals refuse to consider less risky, cheaper alternatives to nuclear power?” asks Schreiner. “What are they trying to hide by not conducting an independent public review of costs and alternatives?”
The GPO is on a mission to bring honesty, integrity and good public policy to Queen’s Park.