In downtown Edmonton this week, a conference is shifting the spotlight from Alberta’s predominant oil and gas sector to another energy source – Nuclear power. May Wong, a senior vice-president of Capital Power, sees immense potential in Alberta for small modular reactors (SMRs), which could revolutionize the industry. SMRs, being smaller and more efficient than traditional nuclear reactors, can be produced in factories, offering cost-effective and safer energy solutions, particularly for less densely populated areas.
While nuclear power is already established in New Brunswick and Ontario, the latter heavily relies on it for over half of its electricity needs. Ontario plans to enhance its nuclear capacity through SMRs, identified as a critical part of the nation’s major infrastructure projects. The growing interest in nuclear energy has now extended to Alberta. Premier Danielle Smith, previously hesitant about renewables like wind and solar, has shown a newfound openness to nuclear energy, citing its favorable attributes.
The resurgence of interest in nuclear power is attributed to the rising global demand for electricity, driven by factors like increasing populations and the surge in AI data center establishments. Energy Alberta and other companies are eyeing nuclear projects for long-term energy stability. Despite the initial high costs, the long-term benefits of nuclear power are becoming more appealing, especially with the evolving energy landscape and technological advancements.
While challenges remain, such as public opinion, waste management, and economic viability, industry experts believe that the timing is ideal for nuclear power expansion in Alberta. The province’s deregulated electricity market offers opportunities for private operators to invest in and compete in the energy sector. As stakeholders continue to evaluate the feasibility and implications of nuclear power, the possibility of nuclear reactors becoming a prominent energy source in Alberta is on the horizon.
