Prime Minister Carney is giving two billion dollars of taxpayers’ money to a “nation-building” project that already has three strikes against it.
Touted as the western world’s first small modular nuclear reactor, to be built in Ontario, the BWRX is an American design, requiring enriched uranium fuel that must be purchased from a non-Canadian supplier, and is too expensive to be sold abroad. Three strikes.
BWRX is a Boiling Water Reactor, version 10. Globally, there are more boiling water reactors shut down than operating. The three that melted down in Japan in 2011 were precursors of BWRX.
The only Canadian-designed boiling water reactor, Gentilly-1 in Quebec, was a technical and economic fiasco. G-1 ran for only 183 days over six years and will soon be dismantled at great expense.
The first BWRX, to be built on the Darlington site, will be the most expensive electrical power plant in the world. Ontario Power Generation anticipates spending $7.7 billion for 300 megawatts of power. That’s $25,700 per kilowatt installed – four times the cost of renewable energy.
The only other nuclear plants in North America to get a construction licence in the last 45 years were four large reactors, two in South Carolina and two in Georgia. The South Carolina reactors were never finished, as Westinghouse went bankrupt over the $9 billion loss from that dead-end project.
The two reactors in Georgia were finished, at the staggering cost of $16,500 US per kilowatt – that’s $23,500 Canadian per kilowatt. The Georgia project has been identified as the costliest electrical capacity ever built – but the BWRX cost is higher.
OPG says enriched fuel may be acquired from the USA or France. But both countries, unable to meet their own demand, are still buying enriched uranium from Russia. With BWRX, will Canada also become a Russian client?