The federal government released its Powering Canada’s Future (PCF) clean energy strategy document today, and there were a lot of positives for the Society.
The social and political license required to achieve necessary reductions in carbon emissions is dependent on our ability to provide highly reliable electricity that is affordable for residential, industrial and commercial ratepayers. The Society of United Professionals is pleased to see that the Government’s Clean Electricity Strategy recognizes the fact that new investments in nuclear energy play an essential role in our ability to satisfy that triple bottom line of sustainability, affordability and reliability.
The Clean Electricity Strategy is an important document detailing how the federal government can address the crisis of climate change, while also creating significant economic opportunity through the electrification of our economy, and the decarbonization of our energy grid. While acknowledging the unique characteristics of each jurisdiction’s electricity grids, the CES lays out a path forward for the federal government to invest in the modernization of our grids, through local distribution infrastructure, transmission capacity, and zero-emitting power generation like renewables and nuclear.
The CES makes it clear that the federal government is committed to decarbonizing our electricity grid through the expansion of zero-emission nuclear energy. From previously announced actions like including nuclear power in the green-bond framework, to its commitment at COP28 to triple nuclear power generation by 2050, as well as new commitments like streamlining the assessment process for brownfield nuclear projects. Combined with commitments found in the Fall Economic Statement, like finalizing the requirements for provincial crown corps to access the Clean Electricity investment tax credit (ITC), and providing a $500 million backstop to help ensure that Canadian utilities are positioned to keep our nuclear supply chain free from Russian influence, it is clear that the government is committed to strategic enabling mechanisms to allow us to continue to transition toward an energy future for Canadians that is clean, reliable, and affordable.
The Society is also glad to see the Government’s recognition of the huge impact uniquely made-in-Canada CANDU reactors have on economic activity, energy self-sufficiency and fuel security, and the accelerating growth of high-quality union jobs throughout CANDU’s overwhelmingly domestic supply chain.
Members can read more on the government's website: https://www.canada.ca/en/environment-climate-change/news/2024/12/powering-canadas-future-securing-jobs-investments-and-savings-by-building-more-affordable-and-reliable-clean-electricity.html
