Expanding nuclear power generation across Canada could help drive prosperity, competitiveness, and emissions reductions for decades to come. 

Provinces must commit to deeply electrifying their economies and take a coordinated approach to deployment in order to build the case for new nuclear projects, according to a new research paper by Clean Prosperity. Canadians will only support new projects if they don’t lead to an increase in electricity prices. 

“New nuclear reactors can make unique contributions to Canada’s long-term energy security and climate goals. If the price is right, they are also a valuable hedge against constraints provinces may face as demand for electricity increases,” said Brendan Frank, Clean Prosperity’s director of policy and strategy and author of the new paper, Nuclear Nation Building. 

“New nuclear reactors can make unique contributions to Canada’s long-term energy security and climate goals. If the price is right, they are also a valuable hedge against constraints provinces may face as demand for electricity increases.” 

Brendan Frank, report author and director of policy and strategy, Clean Prosperity

Modelling by Clean Prosperity and Navius Research shows how Canada could more than triple the capacity of its nuclear fleet between 2035 and 2050. That’s the equivalent of building one large nuclear reactor every year.

To successfully build new nuclear power generation at that scale, federal and provincial governments need to get three things right:

1. Electrify everything. Accelerated electrification can unlock billions worth of investment, savings for consumers and taxpayers, and economic growth. New nuclear power is a much better fit if provinces go big on electrification. 
   
   Provincial regulators should prioritize deep electrification. Provincial governments should strengthen carbon markets to level the playing field for low-carbon electricity. 
   
   The federal government should pass the Clean Electricity Investment Tax Credit as soon as possible to support new electricity generation projects, including nuclear reactors. 


2. Use fleet-based planning. The best way to reduce the costs of new nuclear power plants is by committing to standardized reactor designs. 
   
   Provinces and the federal government should coordinate fleet-based approaches to reactor design for large, small, and micro reactors. 
   
   New reactors should be built on existing and pre-licensed nuclear sites to shorten timelines and capture economies of scale.


3. Be transparent about costs. Ontario should publish detailed cost data on the Darlington BWRX-300 project. Financial transparency across projects will help develop learning curves and cost reductions. 
   
   The province should prepare off-ramps from the BWRX-300 project if cost reductions do not occur over time.

New polling by Léger shows that a majority of Canadians are open to nuclear power, but the majority are unwilling to support new projects if they lead to an increase in electricity prices. That makes upfront capital support and steep cost declines essential.

“New nuclear power can be part of Canada’s low-carbon growth story, but only if governments create the right conditions,” said Frank. “If they get it right, nuclear expansion can be a driver of Canadian prosperity for generations.”

Read the report:

^{Photo credit: Tuu Sitthikorn}