Toronto, September 29, 2022 – Ontario’s manufacturers welcome the announcement today by the Ontario government to safely continue operating the Pickering Nuclear Generating Station, ensuring clean and stable energy for several more decades and good jobs for manufacturers.
Nuclear energy provides a safe, stable baseline which Ontarians can rely upon, especially as the province positions itself as a leader in the production of electric vehicles, green steel, and critical minerals.
Importantly, for Ontario manufacturers, refurbishments generate significant economic benefits, such as good jobs, for small and medium manufacturing firms, which are part of the local nuclear supply chain. However, the refurbishment must be balanced by a strategy to lower electricity rates, which are again on the rise.
Estimates are the refurbishment could create more than 1,000 manufacturing jobs during the construction phase of the project.
“We cannot afford nuclear refurbishment to allow Global Adjustment charges to balloon again. Neighbouring jurisdictions, including Michigan and Quebec, have established low industrial rates to attract investment,” said Dennis Darby, President and CEO of Canadian Manufacturers & Exporters (CME). ” As the provincial government considers an Advanced Manufacturing Strategy, Ontario must take action to remain competitive.”
- Ontario’s manufacturing sector employs 776,200 Ontarians
- The sector’s 36,200 manufacturing firms also directly generate almost 11 per cent of the province’s GDP and over three-quarters of its merchandise exports