Organization of Canadian Nuclear Industries (OCNI) Statement on the Government of Ontario’s Fall Economic Statement 

The Organization of Canadian Nuclear Industries (OCNI) warmly welcomes the release of the Government of Ontario’s Fall Economic Statement (FES), which highlights the nuclear supply chain as a central engine of economic growth, clean electricity, and high-value job creation across the province. 

Featured in a dedicated section titled “Positioning Ontario as a Global Leader in Nuclear Energy”, the FES reinforces Ontario’s long-term commitment to expanding nuclear generation while highlighting the industry’s track record of delivering major refurbishment projects safely, ahead of schedule, and under budget. Across all planned expansion and life-extension projects, Ontario’s nuclear strategy is projected to create 150,000 job opportunities and contribute over $800 billion to Canada’s economy. 

Historic Indigenous Partnership & SMR Advancement 

OCNI celebrates the landmark $700 million equity investment from the Williams Treaties First Nations in the Darlington New Nuclear Project (DNNP). This investment marks the first time First Nations have become full equity partners in a Canadian nuclear project. 

Supported by a $1 billion provincial investment through the Building Ontario Fund (BOF), construction of Canada’s first Small Modular Reactor (SMR) at Darlington achieved a major milestone in April with the installation of the 2.1-million-pound Basemat module. The four-reactor SMR project will generate up to 18,000 Canadian jobs during construction, sustain approximately 3,800 ongoing jobs, and contribute $38.5 billion to Canada’s GDP over 65 years. 

Refurbishment Execution & Domestic Supply Chain Value 

Ontario’s nuclear operators and supply chain partners continue to set international benchmarks for project delivery: 

• The Darlington Refurbishment was completed $150 million under budget and nearly five months ahead of schedule. 

• The Bruce Power Unit 3 reactor replacement was completed seven months ahead of schedule, saving Ontario ratepayers $150 million. 

• Refurbishment of Pickering Nuclear Generating Station officially commenced and is planned to extend the station’s operating life by up to 38 years. The project will create 30,500 construction jobs, support 7,500 jobs over its lifespan, and contribute $41.6 billion to Canada’s GDP. More than 90 per cent of project spending will stay in Ontario and Canada. 

Paving the Way for Large-Scale Nuclear Generation 

The FES confirms crucial progress on early-stage planning for new, large-scale baseload power: 

• Early-stage planning continues for large-scale nuclear generation at OPG’s Wesleyville site in Port Hope. The project is expected to support 10,500 jobs across Ontario (including 1,700 new jobs in Port Hope) and contribute $235 billion to Ontario’s GDP over its lifespan. 

• The province directed the Independent Electricity System Operator (IESO) to enter into a cost-sharing and recovery agreement with Bruce Power to enable critical development activities. Bruce C is projected to add $238 billion to Canada’s GDP while creating 18,900 construction jobs and 6,700 operational jobs. 

Updated Revenue Outlook 

The Fall Economic Statement’s revenue outlook notes that Ontario expects to earn $610 million more than previously forecasted from government-owned businesses, primarily driven by higher projected earnings from Ontario Power Generation’s (OPG) nuclear investment funds. 

OCNI and its member companies remain committed partners alongside the Government of Ontario and our world class nuclear supply chain to deliver these major projects safely, on time, and on budget.