Thank you. I'd be happy to.
One of the ways people look at affordability is through levelized costs. I'll give you a cost comparison from the Lazard study that was done in 2023.
Solar photovoltaic dollars per megawatt hour range from $24 to $96. Wind ranges from $24 to $75. Nuclear ranges from $141 to $221. A natural gas combined cycle starts at $39 a megawatt hour and goes to $101. Electricity is a portfolio approach. When you want to deliver clean, reliable, affordable power, you need a mix.
We're going to need everything. We have talked about it. In my introductory remarks, I talked about how much electricity growth we're going to see. It is a mix. The most affordable sources of new electricity supply in the world today are wind and solar, and batteries are dropping in cost very impressively. They've dropped to 10% of what they were 10 years ago, and it's getting better.
Going forward, what we need for building reliable electricity grids all across Canada is diverse supply mixes that are complementary. One of the areas where I think we get into some problems is baseload power. What we need is flexible generation. We can get really affordable renewables on the system, and we can supplement that with energy storage. We need flexibility in our resources so that they can ramp up and meet demands when we need to meet them. I think the way we talk about it is, honestly, a little bit backwards.
I'm happy to answer more questions on this.