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1 OEA Energy Leaders Roundtable: Nuclear Power Panel P. Charlebois Chief Nuclear Officer February 10, 2006 Toronto, Ontario.

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Presentation on theme: "1 OEA Energy Leaders Roundtable: Nuclear Power Panel P. Charlebois Chief Nuclear Officer February 10, 2006 Toronto, Ontario."— Presentation transcript:

1 1 OEA Energy Leaders Roundtable: Nuclear Power Panel P. Charlebois Chief Nuclear Officer February 10, 2006 Toronto, Ontario

2 2 OPGs mandate is to cost effectively produce electricity, while operating in a safe, open and environmentally responsible manner optimize hydroelectric production and expand or develop hydroelectric capacity independently or through partnerships operate in accordance with the highest standards of corporate governance, social responsibility and corporate citizenship operate nuclear stations cost effectively while prudently investing to improve their reliability, predictability and performance Mandate and Strategic Objectives

3 3 Accomplishments Nuclear 2004 vs 2005 Results Result Area Year over Year Trend Production (TWh) 4245 Forced Loss Rate 7.6%5.4% OM&A Costs (Actuals vs. Budget) ~6% below budget~4% below budget Safety Good Regulatory Relationships Positive

4 4 Public Safety OPGs nuclear stations emit only a very small fraction of the radiation that the average Ontario resident receives each year from natural sources such as the sun, radon in the soil, etc PickeringDarlingtonAverage annual exposure from natural sources such as the sun Microsieverts 1, Q2 2005

5 5 Employee Safety: Accident Severity Rate OPG nuclear employees have a lower accident severity rate than workers in the electricity industry Days lost per 200,000 hours worked Good PAPBDCEA Top Quartile ( average) 2005* PA = Pickering A PB = Pickering B D = Darlington *Based on new CEA requirements, 2005 ASR was calculated using calendar days lost versus shifts lost used in previous years.

6 6 Decommissioning / Waste Management The net present value of OPGs liability for nuclear waste has been calculated to be $8.5 billion – to decommission the stations and to permanently store all nuclear wastes OPG has currently set aside $7.3 billion into a segregated fund towards this liability Total Liability Amount in Segregated Funds Billions $

7 7 Waste Management Proposals Deep Geological Repository (DGR) proposal Nuclear Waste Management Organization Report

8 8 Nuclear Electricity Production OPGs nuclear production has been increasing over the past three years – partly from the addition of newly refurbished Pickering A Units 1 and 4, and partly from the increased production from Darlington and Pickering B TWh

9 9 Nuclear Production Efficiency The Unit Capability Factors of the Darlington and Pickering B stations have increased over the past three years In 2004 and 2005 Darlington was the best performing multi-unit nuclear station in Canada Four of the top 10 CANDU units worldwide are OPG units Unit Capability Factor (%) Pickering B Darlington 2005

10 10 Nuclear Cost Performance Darlington is one of the lowest cost electricity producers of any nuclear station in North America, well into the top quartile compared to all nuclear stations in North America OPGs nuclear stations produce electricity for a regulated price of 4.95 cents per kilowatt hour The market price for electricity generation in Ontario for 2005 averaged 7.2 cents per kilowatt hour

11 11 Pickering A, Unit 1 Return to Service: Sound Project Execution

12 12 Pickering A, Units 2 and 3 Decision : A Sound Business Decision Refurbishing Units 2 & 3 was technically feasible… …but commercially unjustified due to higher financial risk Units 2 & 3 were in poorer condition than Units 1 & 4 Decision not to refurbish these units allows OPG to focus on continued performance improvement of its 10 operating units Pickering A (foreground)

13 13 Whats on the Horizon: Life Extension Life-extension decision on Pickering B by end of decade Planning process underway to determine scope and timing Business case must be approved by OPG Board and Ontario government Sustained performance and reliability key to positive outcomes Darlington Pickering B (foreground)

14 14 Whats On the Horizon: New Nuclear OPG will demonstrate its proficiency and capability in nuclear by continuing to enhance the performance and cost effectiveness of its existing operations

15 15 Whats On the Horizon: Priorities Continue to improve performance in all aspects of operations Continue to benchmark nuclear performance against the best Complete placing Pickering Units 2 & 3 in safe-storage state Meet our commitments Focus on: –performance excellence; –commercial success; –openness; accountability and transparency. Earn: –credibility and the confidence of our shareholder; –the trust of our host communities; –the pride and respect of our employees.

16 16 OEA Energy Leaders Roundtable: Nuclear Power Panel P. Charlebois Chief Nuclear Officer February 10, 2006 Toronto, Ontario


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