Thank you for the opportunity to appear before this committee.

Electricity is fundamental to the well-being of Canada and Canadians, and the role it plays in our lives and our economy is set to grow dramatically over the coming years and decades. Ensuring the reliability and sustainability of the grid through this growth in demand is of paramount importance. However, the strength and reliability of the grid are tied directly to the strength and reliability of the electricity that gives it power. For approximately 15% of the nation's electricity grid and 60% of the grid here in Ontario, that strength is nuclear.

I am here today on behalf of the Canadian nuclear industry, representing over 80,000 Canadians employed in exploring and mining uranium, generating electricity, advancing nuclear medicine and promoting Canada's leadership worldwide in science and technological innovation.

Canada's nuclear technologies, which include large conventional reactors like the CANDU—one of our country's proudest technological achievements and exports—and newer small modular reactors, or SMRs, will play an increasingly important role in ensuring a reliable and affordable power supply, as increasing electrification puts pressure on both large and small grids, including in remote communities. Looking into the future, industry studies suggest that the electrification of the Canadian economy by 2050, while meeting net-zero emissions goals, will require at a very minimum an additional 100 gigawatts of clean baseload electricity generation. That does not include the significant amount of renewables that need to be brought on to help this transition.

Provincial and territorial governments are actively considering how a suite of technologies could be allocated to meet this massive demand load. Nuclear is increasingly being considered as the best solution. Following the memorandum of understanding between the provinces of Ontario, New Brunswick, Saskatchewan and Alberta, SMR projects in each province have established a critical first-mover advantage, opening opportunities to develop a pan-Canadian new nuclear technology supply chain.

Current, large CANDU nuclear electricity generating plants in Ontario and New Brunswick have been demonstrating for generations how important nuclear energy is in meeting the energy needs of industry and of Canadians. Canada's largest infrastructure project, a $26-billion refurbishment initiative undertaken by Ontario Power Generation and Bruce Power, is on time and on budget. Our nuclear fleet is the envy of many countries around the world that are struggling to find a path to net zero. As a tier 1 nuclear nation with a proven record with its CANDU reactors, Canada has the experience, knowledge and resources to develop new nuclear technologies such as SMRs, and indeed we are doing so.

In addition to accelerating the clean energy transition, SMR development in Canada addresses needs beyond electricity. SMRs can be used to create non-emitting fuels like hydrogen for transportation, industry and export.

The Government of Canada has shown clear support for the Canadian nuclear industry through a range of policy and financial commitments. However, for Canada to succeed in its ambitious decarbonization and electrification goals, much more needs to be done. Moving forward, in order to ensure a strong nuclear energy sector, the Canadian Nuclear Association recommends the following key points to build on the success to date and meet climate and energy security goals that will facilitate regional, provincial and local grid stability.

First, on regulatory alignment, we recommend that the government continue to develop an efficient regulatory regime in Canada that recognizes the need for a significant acceleration of the development and deployment of clean energy infrastructure, including nuclear, large and small.

Second, on the nuclear supply chain, we recommend taking a continental approach, recognizing that working with the United States is to our mutual benefit. This includes key issues such as uranium and nuclear fuel access, especially for SMR development.

Finally, regarding financing, we recommend continued investment in both large and small reactor technologies. We recommend that the investment tax credit, ITC, design for nuclear technologies and supply chains be undertaken in a timely fashion to match efforts undertaken by the United States, and that Bill C-59 include an SMR definition to ensure the timely deployment of technologies.

Members of the committee, we are a country built on our abundant natural resources and skilled, passionate workforce. Our path to success in the energy transition rests not outside our borders but here at home with the sectors we are proud to call our own.

Thank you.