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Bruce Power’s Annual Review and Energy Report shines light on investment in powering Ontario’s future

Press Release

Bruce Power unveiled its 2023 Annual Review and Energy Report in an event at the Toronto Board of Trade, highlighting a rewarding year and its path toward a clean energy future for the people of Ontario.

The company’s annual review details the year’s progress on its Life-Extension Program and Major Component Replacement (MCR) Project, and its growing production of medical isotopes as Bruce Power continues to help achieve climate change goals and cement Canada’s place as a leader in nuclear medicine.

“This is an exciting time for the nuclear industry in Canada and around the world,” said Mike Rencheck, Bruce Power’s President and Chief Executive Officer. “I’m proud to share our Annual Report to give you an overview of the work we’re completing today that will help lead to a safe, clean and reliable electricity grid to power Ontario’s future and to supply medical isotopes to the global health-care community.

In 2023, Bruce Power brought its renewed Unit 6 back online safely, with high quality, ahead of schedule and on budget after a successful MCR outage to provide clean and reliable power for the people of Ontario for decades to come. The company also began its Unit 3 MCR outage, leveraging lessons learned and strong performance in Unit 6. Unit 7 set its continuous operation record of over 520 days and continues the run into the new year.

The company continued to use its reactors not only as a source of clean energy, but a provider of much-needed medical isotopes. Bruce Power harvested the largest historical shipment of cobalt-60, used to sterilize billions of single-use medical devices and in targeted cancer treatment, and was able to increase its capacity to produce cancer-fighting lutetium-177 through innovations to its Isotope Production System.

In December at COP28 in Dubai, Canada was one of more than 20 countries to sign a new Ministerial Declaration to triple nuclear energy by 2050. The declaration is recognition of the nuclear industry’s importance in achieving global net-zero targets by 2050. Bruce Power, in coordination with the Ministerial Declaration, joined 119 other nuclear industry signatories active in 140 countries in signing a Net Zero Nuclear Industry Pledge to help achieve this lofty goal.

In July of 2023, the Ontario government recognized the province’s nuclear advantage with the release of its Powering Ontario’s Growth plan, which included support for pre-development work to study the feasibility of the option for a new nuclear build on the Bruce Power site.

About Bruce Power

Bruce Power is an electricity company based in Bruce County, Saugeen Ojibway Nation Territory, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable nuclear power to families and businesses across the province and cancer-fighting medical isotopes around the world. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Formed in 2001, Bruce Power is a Canadian-owned partnership of TC Energy, OMERS, the Power Workers’ Union and The Society of United Professionals. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram, TikTok and YouTube.

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