meantime, the output will be sold to OPG under transitional arrangements. In 2018 the Canadian Manufacturers and Exporters (CME) released a report that looks at how extending the life of the Bruce Power site to 2064 will positively impact the people of Ontario through low-cost, reliable, carbon-free electricity, as well as the continued investment in jobs and the economy. 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. 742 Pre Emption Road 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. and Chief Executive Officer. Life-Extension. "Bruce Power looks forward to playing a vital role in the success of Trades workers are referred from the appropriate Building Trades Union (BTU) under the Chestnut Park Accord Addendum. By invoking FM, Bruce Power is excused and relieved from performing or complying with its obligations under the contract. 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. To learn more about decommissioning and fuel costs see here. "Congratulations Bruce Power. 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. For more information see here Major Component Replacement Project Economic Impact Analysis. Hazardous (oils, chemicals, lighting lamps and ballasts – some of which are recyclable), Recyclables (glass, cardboard, plastic, paper, metal, wood, batteries and electronics). Read the Ministry of Energy's news release and the IESO's backgrounder on the Amended and Restated Bruce Power Refurbishment Implementation Agreement. nuclear power in Canada. Available in all states. Asset Management includes the ongoing inspection, maintenance, replacement and refurbishment activities not included in Major Component Replacement necessary to extend the life of components. "This transaction represents a major step forward in our North American Bruce Power’s Asset Management Plan for Units 3-8 is an essential part of the continued safe and reliable operation of the site until 2064. Bruce Power manages many different forms of waste, including: Bruce Power manages radioactive waste in partnership with OPG. Asset Management activities will be executed before, during and after the MCR outages. Inquiries can be directed to info@brucepower.com. Refurbishment Agreement. In These 16 agreements include the Amended and Restated Used Fuel Waste and Cobalt-60 Agreement The agreement allows OPG to concentrate 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. 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. Officer of Bruce Power. Ontario Power Generation is an Ontario-based company, whose principal business Power effective today. Bruce Power is now the licensed operator and will lease the Bruce A and Bruce B Fax 905-686-1078 "Based on the principles of Bruce Power is a leading supplier of medical isotopes that are used worldwide in life-saving cancer treatments and sterilization of medical devices. Phone: 519 361 2673 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. 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. looking forward to working with our partners to make Bruce Power both a business In addition to leasing the power plants and related systems, Bruce Power also acquired nuclear fuel and other assets . entered into a long-term lease agreement with the Bruce Power Limited Partnership (Bruce Power)— a private-sector partnership made up of British Energy PLC (79.8%); the Cameco Corporation, a private-sector uranium producer (15%); and the facility’s two primary unions (5.2%)—to take over operation of the Bruce facility. The base rent is set out in the Lease Agreement and 4 fixed for each year of the lease. The Bruce Power facility will continue to be managed and operated by the management and staff of Bruce Power. In 2013, the Province of Ontario’s Long Term Energy Plan (LTEP) established the policy framework for future refurbishments including a requirement to establish realistic off-ramps. Workers' Union (up to 4%) and The Society of Energy Professionals (up to 1.2%). As a private sector company, we enter into commercially competitive arrangements and arrange financing to deliver on our obligations. Power recently announced the launch of a program to restart the two reactors by to working with you to secure exciting and long- term working relationships and Notification of FM must be made within 20 days of determining for the occurrence of a FM event. and enthusiasm we have received from employees, the unions and the local 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. There is also an option to extend the lease for up to a further 25 surrounding jurisdictions. billion, representing one of the largest public/private transactions in Canadian communities," said Dennis Fry, Power Workers' Union Executive Board member and The difference between a solar lease and a solar PPA (Power Purchase Agreement) is explained in this article. The Bruce Power stations are located near Kincardine, Ontario, about 250 km nuclear electricity," said Bernard Michel, Cameco's Chair and Chief Executive commitment to improving nuclear performance at their respective stations means 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). 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. While working under the PWU/Bruce Power Appendix A, BTU members are represented by the PWU as PWU … The FAO provides independent financial analysis to the provincial legislature. 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. There is some commercially sensitive information that has to remain confidential to maintain that competitive tension. "Today's transaction is positive news for employees, the community, the Define Bruce Power Collective Agreements. Robin Jeffrey, Chairman Designate of British Energy plc and Chairman of Bruce company focused on low-cost power generation and wholesale energy sales while For more information about nuclear waste specifically related to the MCR program please see here. Electricity Forum publishes Electricity Today T&D Magazine and Intelligent Power Today Industrial Electrical Magazine. 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. stations until 2018. The initial lease term was for 18 years plus history. The Electricity Forum (In Canada) 4 5 In addition, OPG and Bruce Power have entered into a number of associated agreements … the production of more clean-air electricity. 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. Additionally, through Bruce Power’s site lease with OPG, the company will continue to fund decommissioning and waste management costs. into an entirely different atmosphere," said representatives of The Society of 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. The C$3.2 billion transaction includes an initial payment of C$625 million, Bruce Power takes great pride in ensuring that it is delivering Ontario customers low-cost, reliable, GHG-emissions free power. electricity market, scheduled to open to competition by May 2002. 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. For certainty and off-ramp purposes, the contract contains and Bruce Power agreed, to a cost and schedule estimate for each refurbishment project. interconnected markets. 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. Bruce Power has always taken an active role for many years to reduce all forms of waste. 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. of Energy Professionals underscores the confidence we all share in the future of total, fixed and variable payments are estimated to be about C$150 million in Are solar and wind really killing coal, nuclear and grid reliability? 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 … 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 Hebb, Rod Sheppard and Bob Wells. 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. 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. 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). From an environmental and financial standpoint, waste reduction is good for our company and for the communities we touch. Sir John Robb. 2. the unions take up their full equity interest in Bruce Power by May 2003. The report – a joint effort between the Canadian Manufacturers & Exporters, the Provincial Building and Construction Trades Council of Ontario, and Bruce Power – shows that 22,000 Ontario jobs will be created and sustained directly and indirectly through the Bruce Power Life-Extension Program every year, while $4 billion in domestic economic benefit will be realized through the direct and indirect spending on operational equipment, supplies, materials and labour income annually, For more information see here – Powering Innovation, Jobs and Economic Growth. 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. 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. The FAO estimates that the Plan will result in nuclear generation supplying a significant proportion of Ontario electricity demand from 2016 to 2064 at an average price of $80.7/MWh in 2017 dollars. 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. before various closing adjustments, paid in three installments, as well as Power. Urenco, AMEC NSS Limited and Bruce Power finalised the partnership agreement, which outlines: Cooperation in the process of design review and licensing. A lease agreement to operate the Bruce station was signed between OPG and Bruce Power in 2001. The restart is conditional on obtaining regulatory approvals and achieving We comply with all waste regulations and requirements of the relevant federal authorities. operating in a safe, open and environmentally responsible manner. PO Box 1540 177 Tie Rd., R.R. Used fuel from Bruce Power’s operations is owned by OPG, and as part of the lease agreement with OPG, Bruce Power pays a per-megawatt fee to … The LANDLORD is not responsible if the Following a condition assessment that confirmed the technical In this capacity the IESO enters into contracts for electricity output with various supply sources across the province. This was something Bruce Power would support a solution to as part of the agreement . The Bruce nuclear power stations include four operating reactors at the Bruce B "We are pleased to Agreement is dated as of the 3rd day of December, 2015 between Bruce Power L.P. (the “ Generator ”), a limited partnership created under the laws of the Province of Ontario and as represented by its general partner, Bruce Power Inc., and the Independent Electricity System 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. In 2017, the Financial Accountability Office (FAO) undertook a review of the contract at the request of the Ontario Legislature. 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). 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. The change in operator resulted in an increased power plant output. 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. and employment success. 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. Like MCR costs, the costs of asset management activities are recovered through the contracted price of power. "I really would like to say 'thank you' for the support In May 2001, Bruce Power began operations. PPA means you only pay for the electricity you use. Create your free motor vehicle lease form today to lease a car, truck, motorcyle, or other vehicle. 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. annual lease payments. northwest of Toronto. We look forward 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. We publish electrical technical handbooks and associated digital magazine advertising supplements. Bruce A station. Pickering, ON Solar leases mean a fixed monthly lease payment. agreements and will safeguard existing pensions and other benefits. 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. Toll Free: 1 866 748 4787 TIVERTON, ON -- Ontario Power Generation (OPG) and Bruce Power today announced the successful financial close of the transaction related to Bruce Power's lease of the Bruce nuclear power stations from OPG. 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. Bruce Power receives price adjustments for a number of variable factors such as inflation and Life Extension/MCR incremental capital investments. Solar PPA and leases are generally better for people with credit challenges or cannot take advantage of the solar investment tax credit (ITC). Bruce Power is now the licensed operator and will lease the Bruce A … 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. Unlike natural gas prices, which are very sensitive to market changes, nuclear fuel costs are predictable and stable. 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. 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. Bruce Power’s fuel costs reflected in the amended agreement are set through a long-term procurement strategy and represent approximately 12 per cent of the 2016 Bruce Nuclear price. 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 this case, FM includes epidemics and pandemics. performance targets for the four operational reactors at Bruce B. TABLE OF CONTENTS Part Title Pages ARTICLES 1-27 A TERMS AND CONDITIONS A1-A150 The current price paid for electricity from Bruce Power, as of April 1, 2020, is $78.55/ MWh. 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. 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. ", "The successful conclusion of this transaction is a tribute to the many people Learn more. ", Don MacKinnon, Power Workers' Union President, said the Bruce transaction In June 2000, OPG entered into a long-term lease agreement with private sector consortium Bruce Power to take over operation. L1W3V4 2003. All the output from the Bruce stations will be sold into the new Ontario Under the contract, subsequent MCRs are expected to improve on cost and schedule by building on lessons learned and experience. Bruce Power sells all of its electricity under a controlled contract with the IESO. strategy, enabling us to deploy both our existing nuclear operating skills and "It's our past accomplishments that have allowed us to get 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. 12 and Bruce Power, including lease payments. LEASE AGREEMENT This Lease is made on BETWEEN (LANDLORD) whose address is AND (TENANT) The word "TENANT" refers to each Tenant named above. electricity consumer and the nuclear industry," said Ron Osborne, OPG President 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. 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. 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. The lease is for a to where we are today and it will be our future actions and behaviours that will The agreement aims to extend the life of Bruce nuclear generating station’s CANDU reactors to 2064. 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 two Bruce Bruce Power is responsible for all capital costs related to the MCR program and the risk of executing the project from a cost and schedule perspective once it receives approval to proceed. Our Life-Extension Program, including the Major Component Replacement (MCR) Project, will provide clean, reliable, low-cost electricity to 2064 and beyond. The lease will run until 2018 with an option to extend for a further 25 years. means the labour agreements entered into with each of the PWU, Canadian Union of Public Employees – C.L.C. As part of the positive relationship with the unions at ", "We have successfully entered, not only into a partnership with new owners but, This is inclusive of a base price of $70.95/ MWh and a pass through for front-end and back-end fuel costs of $7.60/ MWh. Financial Accountability Office – Nuclear Refurbishment Report. It allows the company to operate the plant until 2018, with an option to extend the arrangement for up to 25 more years. 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. "This event marks the beginning of a new era for our employees and the local Cameco's long-term strategy to grow profitably in the nuclear industry.". OPG's goal is to be a premier North American energy generator, Cameco Corporation (15%), the world's largest uranium fuel supplier However, the company continues to endeavour to answer any questions and provide information of interest to the public and stakeholders. Bruce facilities and represents a major step towards opening the Ontario 14456 and the two main unions representing employees on the Bruce site, the Power 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. Officer and a member of the Bruce Power Board of Directors. The agreement adheres to the 2013 Long-Term Energy Plan refurbishment principles and ensures that operating and refurbishment execution risks reside with Bruce Power. The total value of the transaction is more than $3.2 The agreement made was for a lease period of 18 years, with the option to renew for another 25 years. 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. Given the pandemic, the Unit 6 MCR program was scaled back and limited to essential tasks related to plant safety and system integrity. calendar year 2002. years. 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. Gateway To North America's Electrical Industry -. communities.". PWU nominee to the Bruce Power Board of Directors. electricity marketplace to competition. The Bruce Power facility will continue to be managed and operated by the management and staff of Bruce Power. 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