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Bruce and Cameco partner for long-term nuclear fuel supply

Tuesday, 4 April 2023

The extension of the long-term exclusive nuclear fuel supply arrangements between Bruce Power and Cameco for an additional 10 years through to 2040 secures decades of nuclear energy supply. The announcement comes as refurbishment work to ensure the long-term operation of the Bruce plant reached a milestone ahead of schedule.

Bruce and Cameco partner for long-term nuclear fuel supply — Bruce Power has marked the defuelling milestone in the refurbishment of Bruce unit 3. The supply of Canadian-sourced fuel for Bruce's plants is now secured until 2040 (Image: Bruce Power)

The new deal extends exclusive fuel supply arrangements announced in 2017 and includes provisions for Cameco to supply 100% of Bruce Power’s uranium, conversion services and fuel fabrication requirements. The extension represents an estimated CAD2.8 billion (USD2.1 billion) in additional business between the companies from 2031 to 2040, Cameco said. The volumes covered by the new arrangements were included in the long-term contracting volumes disclosed by the company in February.

"These arrangements signify a long-term commitment to fuelling a clean-air Ontario along with the stability of hundreds of high-value jobs in Saskatchewan and Ontario," Cameco President and CEO Tim Gitzel said. The extension "shows the importance of securing Canada's energy needs through Canadian partnerships" against a background increasing global geopolitical uncertainty and the subsequent instability in the global energy market, he added.

Bruce Power President and CEO Mike Rencheck described Cameco as an "important" partner. The new arrangements "signal long-term stability from Canadian-made energy, enabling us to continue to supply carbon-free electricity to one in three homes, businesses and hospitals in Ontario and medical isotopes used in cancer treatments around the world," he said.

Defuelling complete at Bruce 3

The announcement of the fuel agreement between Bruce Power and Cameco was made the day after defuelling was completed at the second unit to undergo refurbishment at the Bruce nuclear power plant.

Removal of the 5748 fuel bundles from the core of Bruce 3 was completed 31 days quicker than at Bruce 6 - the first of the units at the Ontario site to undergo the Major Component Replacement (MCR) process as part of a programme to extend the operational lives of Bruce units 3-8 to 2064. Process improvements and lessons learned from similar work at Bruce 6 enabled innovations that enhanced performance efficiencies, the company said.

Preparations are now under way for bulkhead installation and the primary heat transport system 'drain and dry', before major component disassembly begins at unit 3. Meanwhile, Bruce 6 - which began its MCR in January 2020 - is expected to return to service later this year.