A $2 billion deal has been inked between Saskatoon’s Cameco Corporation and Bruce Power of Ontario. The long-term arrangement is an exclusive fuel supply deal for an additional ten years with Cameco providing reactor components for all six of Bruce Power’s Major Component Replacement projects starting this year.

The agreement gives Cameco business certainty while delivering about $200 million in ratepayer’s savings for Bruce’s customers by making the deal while market conditions are favourable for the company.

As founding members of the Nuclear Innovation Institute, both Bruce Power and Cameco have also announced the launch of the NII Centre for Next Generation Nuclear Technologies to identify post-COVID economic, environmental and health care opportunities.

Premier Scott Moe says this partnership symbolizes how much stronger we are when provinces and companies work together. Saskatchewan’s Premier notes that he and other Premiers talk about Canada being an energy superpower. He says, ” The nuclear industry shouldn’t be overlooked for their role that they play in Canada becoming that superpower and continuing to be that energy superpower right across the board.”