19:15:11 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Aecon Group Inc
Symbol ARE
Shares Issued 61,535,737
Close 2023-02-23 C$ 10.51
Market Cap C$ 646,740,596
Recent Sedar Documents

Globe/CP say SNC, others told Ontario mulling more nuke

2023-02-24 08:08 ET - In the News

See In the News (C-SNC) SNC-Lavalin Group Inc

The Globe and Mail reports in its Friday edition that Ontario is exploring the possibility of building new, large-scale nuclear plants in order to meet increasing demand for electricity and phase out natural-gas generation. A Canadian Press dispatch to The Globe says that a report late 2022 by the Independent Electricity System Operator (IESO) found that the province could fully eliminate natural gas from the electricity system by 2050, starting with a moratorium in 2027, but it will require $400-billion in capital spending and more generation, including new, large-scale nuclear plants. Decarbonizing the grid, in addition to new nuclear, will require more conservation efforts, more renewable energy sources and more energy storage, the report concluded. The IESO said work should start now to assess the reliability of new and relatively untested technologies and fuels to replace natural gas, and to set up large, new generation sources such as nuclear plants and hydroelectric facilities. The province has not committed to a natural-gas moratorium or phase-out, or to building new nuclear facilities other than its small modular reactor plans, but it is now consulting on the prospect. A consultation period ends May 14.

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