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4. Invest in Small Modular Reactors (SMRs) to create jobs in the nuclear energy industry and provide
additional sources of low carbon electricity and heat.
Nuclear energy in Canada provides 60% of Ontario's electricity supply. The nuclear industry employs thousands of highly educated and
skilled people. As new large, centralized nuclear projects are not being built, there is a growing acknowledgement of the need for
smarter, simpler, and cheaper nuclear energy. SMRs, defined by the International Atomic Energy Agency (IAEA) as nuclear reactors that
generate under 300 megawatts of electricity, are being developed around the world for that purpose.
The Canadian government, together with several provincial governments (Ontario, Alberta, Saskatchewan, New Brunswick) has formed
a Small Modular Reactor Roadmap Steering Committee. Canada has long been a leader in developing new nuclear technology and SMR
technology has the potential to provide emission free and affordable energy for a low-carbon future. SMRs require lower capital
investment and so can potentially compete with other low-cost forms of electricity generation. Due to their efficient, safe, and modular
design, SMRs present a real solution for remote energy needs which are currently provided by combustion of oil and gas.
SMR development in Ontario and Canada will create well-paying jobs. Design, manufacturing, servicing, and management of SMRs (along
with the associated supply chain) represents a huge potential future industry that Ontario's scientific, manufacturing and engineering
communities are ideally positioned to create, as well as export to other markets. The estimated total global export potential of SMRs is
approximately $150 billion per year for 2030 to 2040.
There are still some challenges to address with SMRs. The World Nuclear Association has identified licensing costs and waste
management concerns as issues to overcome for favourable economics of this technology. The Canadian Nuclear Safety Commission
has also noted that more research is required before licensing this technology as reliable and safe.
The Government of Canada should continue developing a long-term comprehensive energy strategy in partnership with other provinces,
that includes the development of SMRs.
This strategy should address:
a. The limited supply of economically recoverable Uranium 235 needed to power SMRs.
b. Security and safety concerns.
c. Concerns regarding the disposal of long-lived used fuel and other nuclear waste.
d. Lack of public knowledge regarding SMRs.
e. The need for Indigenous engagement in advance of specific project proposals.
f. The unique challenges faced by northern communities due to access and remoteness.
16
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