Westinghouse report claims $28B benefit from deployment of AP1000 reactors
A report prepared by PricewaterhouseCoopers for Westinghouse Electric Company estimates that the economic impact of deploying four of its AP1000 nuclear reactors could be as much as $28.7 billion.
The study found that the manufacturing, engineering and construction phase of the units could also generate more than 125,000 person-years of employment. Once operational, the units would create an additional $8.1 billion in GDP and support more than 12,000 jobs annually.
“Our globally deployed AP1000 reactor fleet is a licensed and proven technology that provides exceptional availability and economics across the world,” said David Durham, President of Westinghouse Energy Systems. “This report highlights that our technology and company – with strategic investments, a growing employee base and Canadian ownership – is well suited to meet Canada’s energy needs for generations to come.”
The report also finds that the reactors can offer significant environmental benefits. One unit can power over 750,000 homes annually. A four-unit facility can power at least three million homes – the equivalent of removing 6 million cars from the road.
The project also would further develop human capital through cutting-edge nuclear technology and leadership trainings, and partnerships with local, higher education institutions.
Westinghouse says one of its AP1000 reactors is already operational with another near completion at the Vogtle Electric Generating Plant in Georgia. Four other units are currently operating in China with another four under construction, and two more planned.
The technology is under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom and the United States.
Canada currently has a fleet of 19 commercial nuclear power plants that provide about 14% of its electricity generation. Major projects have begun to extend the lifetime of reactors at the Bruce, Darlington and Pickering stations, all in Ontario.
The provincial government has committed to builfing three new small modular reactors to help meet rising electricity demand. It is currently working with Ontario Power Generation to start planning and licensing the reactors at the Darlington nuclear site.