The McGuinty government is assuring taxpayers the two billion dollar cost overrun for the refurbishment of two reactors at Bruce Power will come out of the company’s pocket.
As we told you last week, Bruce Power President and CEO Duncan Hawthorne confirmed the project will cost 4.5 billion dollars, which is more than the original 2.75 million dollar estimate.
He added that’s been known for quite some time.
But it has raised questions of who is paying for that overrun.
Energy Minister Brad Duguid is reaffirming the cost will be paid by Bruce Power, and not passed down to taxpayers through energy costs.
Duguid says the contract signed with the Tiverton-based company means it will pay the bulk of cost overruns.
While the Progressive Conservatives support nuclear power, leader Tim Hudak isn’t convinced when Duguid says Bruce Power will eat their losses.
The New Democrats’ energy critic Peter Tabuns says nuclear projects always come in over budget and behind schedule, and want the Liberal government to consider more green energy alternatives.
