OSPE - COVID-19 Economic Recovery Recommendations - Provincial Government - 23

5. 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.
Ontario has signed a Memorandum of Understanding with several different provinces committing to collaborate on the development of SMRs.
SMR development in Ontario 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 Ontario should continue to include the development of SMRs as part of a long-term comprehensive energy strategy in
partnership with other provinces and the federal government.
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.

OSPE - COVID-19 Economic Recovery Recommendations - Provincial Government

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