CRED-NB is part of a national network of groups publishing the new SMRs Information Task Force bulletins. The second one addresses the question: How much public funding will new nuclear reactors require?
Nuclear power is heavily subsidized by federal taxpayers as well as those in Ontario and New Brunswick. Much of the money spent on designing, building and operating new reactors will be direct public funding. Of course, consumers will eventually pay all the costs through their electricity bills or taxes.
Federal subsidies for new reactors have topped $1 billion. Indeed, a Canada Infrastructure Bank “low-interest” loan of $970 million is approved for Ontario Power Generation to work on a U.S. designed reactor (the BWRX-300) for the Darlington site. The loan is for the costs of project design, site preparation, procurement of long lead-time equipment, utility connections, implementation of a digital strategy, and related project management. Such costs ought to be paid by the vendor before construction begins. Subsidies will simply be folded into electricity rates and taxes paid by consumers.
Read the rest of the bulletin HERE.