CTV Toronto - Bruce Power got millions to not produce electricity - CTV News
The people of Ontario paid Bruce Power nearly $60 million in 2009 to not generate electricity for the province, CTV Toronto has learned.
A deal between the nuclear generator, a private company, and the Ontario Power Authority (OPA) sets out a guarantee for a certain amount of power to be purchased -- even if it's not needed. The technical term is called surplus baseload generation. The agency agreed to pay Bruce $48.33 for each megawatt hour of electricity that was not needed.
In 2009, demand for electricity was down in Ontario, largely as a result of the recession. This meant Bruce's nuclear reactors weren't operating at full capacity.
As a result, the OPA paid Bruce power $57.5 million for about 1.2 terawatt hours of electricity that was not produced. A terawatt is a million megawatts.
Wednesday, September 22, 2010
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