Sector needs greater certainty as it aims to continue ‘first mover’ status
Canada should modernise its regulatory system by establishing binding and predictable timelines for regulatory processes and implement changes required to facilitate private capital investment in new nuclear projects in a bid to continue its role as “first mover” in the deployment of new nuclear technologies, a report has said.
The report, by the Canadian Association of Small Modular Reactors (CASMR), says Canada can lead the way if policies are adopted to lead the worldwide nuclear buildup.
It outlines actions Canada can take now to secure leadership in next-generation nuclear deployment.
“For the nuclear sector to truly power Canada’s economic growth, both figuratively and literally, it needs greater certainty,” the report says.
“Regulatory certainty, political certainty, and financing certainty are key. These are real barriers to the growth of the nuclear industry in Canada, but they are not insurmountable.
“If Canada can get these pieces right and can use its world leading expertise and experience to seize the moment, it can export its lessons, technologies, and materials to the rest of the world for decades to come.”
Policies that are needed at both federal and provincial level include supporting the reactor designs that will dominate global deployment, boosting supply chains and manufacturing centres, and making sure Canada has control over enriched-fuel and fabrication capacity.
Time For Canada To Decide
The report says global nuclear markets are consolidating around a small number of standard reactor designs, supply chains and fuel-cycle arrangements. “Decisions taken in the coming months and years will determine which countries shape these standards and which countries deploy technologies that are available,” it says.
It adds: “Canada has been, and can continue to be, a first mover in this space, setting designs and hosting supply chains. We are at a crucial crossroads and Canada must decide if it intends to continue its historic position in the nuclear industry.”
The report points to the significant nuclear build-out occurring in Ontario, which began with Candu refurbishments at Darlington and Pickering and is being extended with plans for four GE Vernova BWRX-300 small modular reactors (SMRs) at Darlington and new large-scale units.
The rest of Canada is following Ontario’s lead and becoming increasingly interested in nuclear. Saskatchewan, New Brunswick, Alberta, and Ontario all signed a joint strategic plan outlining a path forward on SMRs.
The report says: “Nuclear power is one of the few assets that simultaneously anchors industrial growth, supports export diversification, and creates long-term employment in engineering, fabrication, operations, and research.”
