The Holt government is moving fast on nuclear power. Despite previous plans to wait until 2027 to evaluate new energy options, New Brunswick is jumping on board with a federal push for more nuclear generation. According to a recent report from CBC News, Energy Minister René Legacy confirmed the technology will definitely be part of the province’s future.

Expanding Point Lepreau

The federal government wants 10 new nuclear power plants operating or under construction by 2040. They want at least one built outside Ontario by 2035. If you live in Saint John, this development happens right in your backyard. The path forward points directly to the Point Lepreau Nuclear Generating Station.

“The easiest path to get new nuclear in Canada outside of Ontario by 2035 is going through Point Lepreau,” Legacy said.

He expects neighboring utilities in Quebec, the Maritimes, and New England to buy the electricity generated by a new plant.

N.B. Power Warns About Costs

While politicians push forward, N.B. Power urges caution. The utility carries a massive debt of nearly six billion dollars. Past construction and refurbishment projects at Point Lepreau contributed heavily to that total.

N.B. Power CEO Lori Clark stated the utility focuses on keeping rates low for customers. The upcoming Integrated Resource Plan will analyze nuclear power, but it will not feature as the primary option.

“Nuclear will be in the IRP, but not necessarily as the least cost option for New Brunswickers,” Clark said.

She added that moving forward with nuclear requires a direct policy decision from the government.

Ottawa Promises Financial Help

To ease the financial burden on your monthly power bill, the federal government plans to step in. Federal Natural Resources Minister Tim Hodgson promised financial tools to lower the cost of a new reactor. These tools include investment tax credits, affordable loans from the Canada Infrastructure Bank, and loan guarantees for First Nations investors.

“I promise that we will do whatever we can as a federal government to help New Brunswick make the right choices for the people of New Brunswick,” Hodgson said.

Still, clean energy advocates like the Pembina Institute warn that chasing nuclear expansion must not drive up everyday energy bills.

Frequently Asked Questions

Where will the new nuclear plant be built?
Officials point to the existing Point Lepreau Nuclear Generating Station outside Saint John as the most likely location for a new reactor.

Will a new nuclear plant increase my power bill?
N.B. Power expressed concerns about the high costs of nuclear energy. However, the federal government plans to offer tax credits and affordable loans to help keep ratepayer costs down.

When will the new reactor be built?
The federal strategy aims to have at least one new nuclear plant operating or under construction outside of Ontario by 2035.