Savings with every kilowatt
For every kilowatt of emissions-free electricity generated by Bruce Power, the people and business owners of Ontario are paying less for power than they would with almost any other source of energy.
We provide families and businesses with 30% of their electricity at 30% less than the cost to generate residential power. Bruce Power will receive 7.5 cents per kilowatt hour (kWh) of electricity in 2019, which, according to the Independent Electricity System Operator (IESO), is three cents /kWh less than was originally projected.
That’s also five cents less than the average price of residential power in the province in 2018 (12.6 cents/kWh), and significantly less than most other sources of electricity in 2018 when solar received 51 cents/kWh, natural gas received 18.8 c/kWh, wind was 15.9 c/kWh, and hydro received 6.2 c/kWh. Source: Ontario Energy Board annual report.
In addition to generating electricity at this low cost, Bruce Power announced $200 million in efficiency payments to further reduce system costs between 2019 and 2021, through efficiencies and enhanced output. This is the only IESO contract, out of approximately 35,000 in the province, which is returning savings and efficiencies of this magnitude.
That’s powering more for less.
While there are many components that make up an electricity bill, including distribution and transmission charges, if you received 100% of your electricity from Bruce Power, this portion of your bill would be at least 30% less.
Bruce Power sells all of its electricity under a controlled contract with the IESO. As outlined, in 2019, this cost is 7.5 cents per kW/h and this covers all investment the company has made in the site, as well as the funding of all long-term liabilities as required in the company’s lease with Ontario Power Generation (OPG).
Bruce Power also makes available about 2,400 megawatts of flexible generation to accommodate intermittent sources like wind and solar in the market, and to meet changing demand. Bruce Power is the only nuclear operator in Ontario to offer this feature, which alleviates pressure on the IESO during times of lower demand for electricity.