Bruce Power welcomes a report from Ontario's Financial Accountability Office which says the nuclear refurbishment plan will provide low-cost low emissions electricity, but not without financial risk.
Bruce Power says because their company is private, ratepayers are protected from that financial risk.
Temporary Financial Accountability Officer J. David Wake released an assessment of the plan on Tuesday.
The province's long-term energy plan requires the refurbishment of ten reactors at the Bruce and Darlington Nuclear Stations, and extending the life of six reactors at Pickering.
The risks of the plan would include refurbishment cost overruns, higher than anticipated operating costs, lower power demand, and the potential for a lower cost low emissions alternative generation option to emerge.
However, Bruce Power will meet all investment requirements for the program and will assume all of the risks of delivering the projects at the Bruce site on time and on budget
Bruce Power is the only Ontario Nuclear operator that also has the innovative ability to provide flexible output when requested due to demand.
The FAO estimates that nuclear generation will supply a significant proportion of electricity through 2064 at a cost of $80.70 per megawatt.
The province's refurbishment plan will require a $25-billion capital investment, with price projections showing the cost being spread over a long time period.