As Ontario's population grows and electrification accelerates, demand for electricity is rising. The province's Independent Electricity System Operator forecasts electricity demand could rise by 65 per cent by 2050. As part of the province's broader plan to deliver affordable, secure and reliable power to meet this growing demand, OPG has been tasked with refurbishing and expanding our clean generating fleet.
Maintaining and building nuclear and hydroelectric
To meet this moment, OPG is investing in the very backbone of Ontario's electricity system: our nuclear and hydro stations. For more than 30 years, the Darlington and Pickering nuclear stations have delivered reliable, low-carbon power. The ongoing refurbishment of Darlington - which is proceeding ahead of schedule and under budget - as well as the life-extension of Pickering, and the development of new small modular reactors, will ensure nuclear energy continues to serve Ontarians for generations to come.
The same is true for OPG's hydroelectric fleet. Many of these stations - now averaging 90 years in age - have been powering communities for nearly a century. Refurbishing and upgrading them will secure decades more clean and low-cost energy. These are long-term investments in infrastructure that must continue functioning safely and reliably for decades to come.
These investments will also support significant job creation and economic activity in Ontario, including OPG's 11,000 employees and tens of thousands of additional jobs in construction, trades, engineering and local supply chains.
Affordability and accountability
OPG's 2027-2031 rate application proposes a moderate, measured adjustment to the OPG portion of residential electricity bills. For a typical household using 750 kWh of electricity per month, this would mean their average monthly bill would increase by about $3.50 each year over the five-year period of the application. These changes would be effective starting in January 2027, pending OEB approval.
OPG is uniquely positioned to undertake this scale of work, and uniquely accountable, as the only generator in the province whose investments are subjected to the full oversight of the province's independent energy regulator, the Ontario Energy Board (OEB).
Simply put: maintaining Ontario's clean, reliable, and secure electricity system requires investing today so it will be there tomorrow. And our proposed investments help make that possible - and ensure Ontario remains a leader in affordable, dependable, and clean energy for the decades ahead.
What does this rate application support:
- Maintaining operations at existing stations - Ongoing investments to operate and maintain the Darlington and Pickering Nuclear Generating Stations as well as OPG's 54 regulated hydroelectric generating stations. This ensures the continued safe, reliable, and efficient production of electricity for Ontarians, supporting system reliability and energy security.
- Darlington New Nuclear Project (DNNP) - Construction of a new small modular reactor (SMR) at the Darlington site - the first of its kind in the G7 - currently on schedule to begin commercial operation in 2030. This project will add significant new, low-carbon generation capacity to meet Ontario's energy needs.
- This project, once fully completed, would produce enough power for 1.2 million homes.
- Support 18,000 Canadian jobs during construction and sustaining an estimated 3,700 highly skilled jobs for the next 65 years.
- Add $38.5 billion to Canada's GDP over the next 65 years.
- 80 per cent of project spending goes to Ontario companies.
- Pickering Refurbishment Project (PRP) - Refurbishment of Pickering Nuclear Generating Station, starting with Unit 5, extending the life of this critical facility and supporting the continued supply of reliable, low-carbon electricity.
- This project, once fully completed, would produce enough power for more than 2.2 million homes.
- Expected to increase Canada's GDP by $41.6 Billion.
- The project is expected to create approximately 30,500 jobs during refurbishment, while sustaining 6,700 jobs throughout the station's operation.
- Investments in regulated hydroelectric fleet - Sustaining and upgrading OPG's hydroelectric facilities, which have an average age of 90 years. These investments will ensure continued safe, reliable, and efficient operation of one of Ontario's most important sources of renewable energy.
- Good jobs for Ontarians - OPG directly employs more than 11,000 skilled professionals in communities across Ontario, providing stable jobs that support families and local economies. In addition, our investments generate tens of thousands of additional jobs in construction, skilled trades, engineering, and the broader supply chain.
