The shovels aren't even in the ground yet, but according to a story in today's Toronto Star Premier Dalton McGuinty is acknowledging that the cost of his multi-billion dollar nuclear plan is skyrocketing.
Says the Premier: "It's really hard to nail down precise costs today given ... we don't know what's going to happen to so many of the costs of so many of the inputs."
Even a few months ago, however, we were being assured by nuclear advocates that the cost over-runs of the past would not happen again.
Recent experience in Europe shows that Ontario is headed down a slippery slope.The cost of building Areva's EPR reactor, which is one of the three designs being considered for Ontario, has almost doubled from 2.5 billion Euros when first proposed 2002 to 4.7 billion Euros today. And you can bet that more delays and cost overruns will occur before the project is completed.
Premier McGuinty's nuclear plan will cost Ontarians billions and will drain money from the renewable energy sources we need to stop climate change and keep the lights on.