Oh, it was his brother.
Evidence of meeting #18 for Finance in the 40th Parliament, 3rd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was aecl.
A recording is available from Parliament.
Evidence of meeting #18 for Finance in the 40th Parliament, 3rd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was aecl.
A recording is available from Parliament.
6 p.m.
Advisory Vice-President, Corporate Affairs and Desjardins Group Management, Desjardins Group
He was a stenographer in the House of Commons.
6 p.m.
Conservative
Mike Wallace Conservative Burlington, ON
Oh, really? That's very nice.
I have a question for you, Ms. Redies. You had a couple of issues, but in general, the credit union movement outside of Quebec, in the rest of Canada, is supportive of what we're doing here, and you have some concerns about access to your membership. Is that basically what it is?
6 p.m.
President and Chief Executive Officer, Coast Capital Savings Credit Union, Credit Union Central of Canada
That's correct.
6 p.m.
Conservative
Mike Wallace Conservative Burlington, ON
Have you expressed that as an organization to date, or are you still working through that process you were talking about, which would be part of your commentary that will come in the future?
6 p.m.
President and Chief Executive Officer, Coast Capital Savings Credit Union, Credit Union Central of Canada
We have tabled our concerns with the Ministry of Finance, and again, we think we can continue to work through this. As long as it's addressed in the near future, I think it will help us encourage a greater take-up.
6 p.m.
Conservative
Mike Wallace Conservative Burlington, ON
Okay. I appreciate that.
I'll now go to the nuclear group.
I have to tell you this, and I have to be frank with my colleagues. I actually worked at the Bruce nuclear station as a summer student for three years. My father worked there at the heavy water plant. My brother-in-law works at Bruce nuclear. My sister works at Bruce nuclear. Let's just say I'm pro-nuclear.
I was there when Douglas Point was decommissioned. It was exciting for students to be in there mopping up water, but I wasn't sure what it was.
The question I have for you is really twofold.
One, we've basically heard this from everybody, other than the engineering group, which we completely understand. Michael was in my office talking to me about the issues. In general, there's a view that the sale either in part or in whole is something that might be needed. That came directly from the AECL and from the supplier group.
This is a question about timing. We put this in Bill C-9 to be able to move on it. What would happen to our nuclear industry if we continued to drag our feet and not make a decision on this? Is the world getting ahead of us on this?
I'll ask Hugh to answer. Perhaps Mr. Hughes, from Laker, can then also answer from the supplier side, if he wishes.
6:05 p.m.
President and Chief Executive Officer, Atomic Energy of Canada Limited
Thank you for the question.
Without question, the world is moving on nuclear at a very fast pace. When we look at the global marketplace and the nature and range of opportunities that exist out there, they will certainly not wait for us to get our house in order to make their decisions. We need to be in a position where we can take the CANDU brand and market it globally and work with our supply chain partners to present compelling propositions to that market.
At the same time, of course, we need to make sure it is the right outcome and the right decision. I don't think we want to be hasty. Certainly, to the extent we can move quickly through this process, I think it's going to be in the best interests of all of us.
May 11th, 2010 / 6:05 p.m.
Christopher Hughes As an Individual
I would certainly agree with what Hugh has to say.
First of all, I'm speaking as a private businessman here. It's not in consultation with AECL or with OCI, even though we are members.
I would say, frankly, the longer it takes to conclude this privatization, the lower the value of AECL.
There are opportunities out there in the world for reactor orders. They are on hold, in particular, in Argentina and in China. Both of those countries are quite frankly having second thoughts due to the uncertainty, in their view. After all, they are the customers. The sooner this is sorted out, the better it will be.
I think one thing you'll find is that successful reactor suppliers all have one thing in common: their home countries, governments, utilities, reactor vendors, and the industry all work together on a common front.
Neil mentioned the Koreans. It's a classic example. They do it beautifully. France also does the same thing.
We need to do the same if we're going to be successful out there in the world.
6:05 p.m.
Conservative
Mike Wallace Conservative Burlington, ON
For my education and for those around the table, how many CANDU reactors are actually operating in Canada?
Perhaps Hugh can answer that question.
6:05 p.m.
President and Chief Executive Officer, Atomic Energy of Canada Limited
The number depends on how you keep score, to be honest. There are eight reactors at Bruce, of which six are operating at this point in time.
6:05 p.m.
President and Chief Executive Officer, Atomic Energy of Canada Limited
They're all CANDU reactors.
There is a CANDU reactor at Point Lepreau in New Brunswick, which is currently under refurbishment. There's a CANDU reactor at Gentilly-2 in Quebec, which is operating today but will be refurbished within a year. There are four at Darlington. There were eight reactors originally built at Pickering, but there are now six that are operating.
6:05 p.m.
Conservative
Mike Wallace Conservative Burlington, ON
Okay.
The marketplace is changing slightly. Some of your competitors are building bigger reactors that are more powerful. I know that on paper we have the ability to build one. That's my understanding. It's on paper. No one's actually built one.
Is there still a marketplace for the smaller-powered CANDU reactor?
6:05 p.m.
President and Chief Executive Officer, Atomic Energy of Canada Limited
We indeed believe there is a market for both of the basic designs that we have designed.
For the CANDU 6, the smaller unit is in fact uniquely positioned in terms of having a size range and a natural uranium fuel cycle that makes it suitable for mid-market countries and smaller grids.
We believe the new ACR-1000, our Generation III+ reactor, is indeed fully feature-competitive and price-competitive with the best reactor designs in the world.
6:05 p.m.
Conservative
6:05 p.m.
NDP
Thomas Mulcair NDP Outremont, QC
Thank you, Mr. Chairman.
My first question is for Mr. Thibault.
I listened to the answer you gave Mr. Paillé earlier concerning consultation and your answer to Mr. Wallace concerning your support for the principle of the part of Bill C-9 concerning the cooperatives. I just want to make sure I clearly understood.
From what I understood, you're suggesting that we not be able to use the French term “caisse populaire” in the case of a federal institution. Is that in fact your position?
6:10 p.m.
Advisory Vice-President, Corporate Affairs and Desjardins Group Management, Desjardins Group
No, not necessarily. The term “coopérative de crédit” has been selected. If we establish a level-two institution, we're asking that it be a commercial bank such as what exists now, before the amendments are even introduced in the context of Bill C-9, and that the term “federal credit union” be used to describe that institution to the extent it would be 100% held by the caisses populaires or credit unions.
6:10 p.m.
NDP
Thomas Mulcair NDP Outremont, QC
You tend, not without reason, to use the English term credit union, when you describe the situation specific to the rest of Canada. However, I've previously worked in Manitoba, in particular, where there is an act concerning the caisses populaires which, in English, is called the Credit Union Act. In Manitoba, a credit union is a caisse populaire. If in Manitoba, a credit union, that is a caisse populaire, decided to follow the model proposed here, would it become a federally regulated caisse populaire?
6:10 p.m.
Advisory Vice-President, Corporate Affairs and Desjardins Group Management, Desjardins Group
Absolutely.
6:10 p.m.
NDP
Thomas Mulcair NDP Outremont, QC
If I correctly understand what you're saying, the fact that caisses populaires are governed by the federal government causes no problems for the Mouvement Desjardins.
6:10 p.m.
Advisory Vice-President, Corporate Affairs and Desjardins Group Management, Desjardins Group
That causes no problem. We don't object to the principle at all. Moreover, as you so well said, the expression “caisse populaire” is already being used elsewhere than in Quebec, whether it be in Acadia, Manitoba or other places. The Caisses Desjardins have no pre-emptive right to reserve the name “caisse populaire”, on the contrary. Bill C-9 could indeed make it so that a credit union migrates toward the federal jurisdiction and becomes established in Quebec. Whatever the case may be, Desjardins has never wanted to protect its territory in order to oppose this kind of bill, on the contrary.
