In the recent Fall Economic Statement, the federal government established a Clean Technology Investment Tax Credit, a refundable credit for up to 30% of the capital cost of qualifying equipment, including certain electricity generation projects. While small modular reactors (SMRs) are eligible under the initiative, large-scale CANDU reactors are not.
This is a major oversight. Canadian technology CANDU reactors presently supply 15% of Canada’s total electricity with clean, emissions-free nuclear power. The construction of new CANDUs and/or the refurbishment of existing units are major, long-term investments that could greatly benefit from such a clean energy incentive like this tax credit. To render them ineligible puts Canada’s current nuclear power sector at a competitive disadvantage relative to other low-carbon technologies. Utilities with CANDU reactors also happen to be significant customers for Saskatchewan uranium and Cameco’s nuclear fuel products.
A petition has been started seeking to attract public support.
Click here to sign the petition
Please note that it is open until January 17, 2023.
