This analysis is based on detailed operational and capital expenses provided by Ontario Power Generation (OPG). These included number of employees and employee salaries, primary contractors (with locations of businesses), goods and services required for the operation of the Pickering Nuclear Generating Station, and ongoing capital expenditures.
Nuclear energy provides just under 60% of Ontario’s electricity needs. The nuclear industry is comprised of 180 companies and employs about 60,000 people every year.
Pickering Station supplies enough power for 1.5 million homes each day, and represents 14% of Ontario’s electricity.
Continued operation of the Pickering Station over the next eight years is expected to contribute on average per year:
- $1.54 billion to Ontario’s GDP;
- Across all industry sectors, $788 million in gross operating surplus. Top 5 sectors impacted are utilities, finance, construction, professional/scientific/technical, and manufacturing;
- 7,590 full-time equivalent (FTE) jobs per year across the entire economy, representing an average annual $748 million in wages. Over 30% of non-utility jobs are for individuals with below median income, largely induced effects through retail and food trades; and
- $290 million in government taxation revenues ($155 million in federal and $135 million in provincial)
If Pickering Station were to stop operating, the energy generation replacement would increase electricity costs in Ontario. As a result, households in the region could see on average a 0.2% to 0.8% decrease in housing affordability.