Thank you very much. What a pleasure and honour it is to be here today. Thank you, Madam Chair.
Good afternoon, members of the committee. It's a privilege to appear before you today on behalf of the Canadian Nuclear Association.
For over 60 years, the Canadian Nuclear Association has been the voice of Canada's nuclear industry. We represent 200 Canadian members from across the full nuclear value chain, and two of our key members are here today with me.
Energy and electricity are no longer just questions about infrastructure. They are central to our economic competitiveness, our energy security and our social cohesion. The jobs, investments and innovations that flow from this sector will shape the kind of country we are building.
The nuclear sector supports approximately 89,000 jobs directly and indirectly across the country. It contributes more than $22 billion to our GDP every year. Canada is building the first SMR. It has refurbished its large reactors in Ontario—$26 billion—on time and on budget, and is a world leader in uranium and nuclear fuel production, based in Saskatchewan. We supply half of the world's cobalt-60. We're a global leader in nuclear medicine. When we talk about energy, we're talking about all of that.
I want to share something that was said about Canada recently that speaks directly to the work of this committee: Canada is a trusted partner—not just a resource supplier, but a trusted partner. That is exactly what Canada's nuclear sector represents domestically but also on the world stage. Decades of safe operations, world-class regulations and responsible stewardship have made Canada a partner of choice for countries building their nuclear futures, from the United Kingdom, France, Poland and Romania to emerging nuclear nations across Asia. That trust is earned and must continue to be earned.
Here's the most important point for this committee: Our ability to deliver for the world depends entirely on what we build at home, and what we need to build at home is significant. From Ontario and New Brunswick, where nuclear has powered communities for decades, to Alberta and Saskatchewan, which are actively pursuing nuclear energy as part of their long-term energy strategies, there's now a rare national consensus around the role of nuclear energy. That is something this committee needs to take note of.
A study commissioned by the CNA projects that Canada will need up to 150 gigawatts of additional electricity generation capacity by 2050. That is doubling or tripling what we produce today. This demand is being driven by industrial electrification, population growth, the rise of artificial intelligence data centres and the full transition to a net-zero economy. To meet the demand, Canada will need every clean energy source available. No single technology can do this alone: The scale of it requires more hydro, solar, wind and nuclear—all have a role to play. The question is not which technology wins. The question is how we quickly we can deploy these technologies.
Nuclear is among the most economically advantageous technologies to meet that need. Our analysis shows that the life-adjusted capital costs for nuclear over a 40- to 60-year horizon could be less than half those of firmed-up renewable alternatives. Total system costs for ratepayers could be up to 60% lower. Investment tax credits for nuclear could pay back 95¢ on the dollar within 20 years, compared to 50¢ for other technologies.
However, nuclear cannot meet this challenge without the right enabling conditions, and that is what brings us here today.
On investment, we welcome the government's decision to implement the clean technology investment tax credit retroactively for small and advanced nuclear projects. That was the right call, and it gives project proponents the confidence we need to move forward. We are now asking the government to deliver that certainty for large nuclear facilities through the clean electricity investment tax credit, and to extend the eligibility to the broader nuclear supply chain and uranium mining.
On regulation, we're asking the government to exempt nuclear projects from the Impact Assessment Act and to restore the Canadian Nuclear Safety Commission as the sole federal regulator. The CNSC is a world-class agency with strong foundations to build on. Its regulatory framework needs to be modernized to keep in mind the scale of projects required to keep up with the electricity demand. The current framework adds three to five years to project timelines. That is not a minor inefficiency; it's a strategic liability.
Our workforce study is unambiguous: Labour availability will determine whether Canada's nuclear ambitions are delivered on time and at scale. Workforce shortages are expected to begin at about 2030, with 20% to 30% of the current nuclear workforce reaching retirement age around that year. We're asking that the federal government work with the provinces to attract talent, support apprenticeship programs, expand participation for indigenous communities and under-represented groups, and align our training systems with the scale of what's needed.
The scale of Canada's energy challenge is not a crisis. It's an opportunity. Canada has the technology, resources, expertise and partnerships to lead. If we get the enabling conditions right, Canada will be positioned to meet not only our own growing demand but also the growing demand of partners around the world that look to us for exactly this type of expertise. Leadership is not static. It is earned through the decisions we need to make now on investments, regulations and workforce, and on our long-term commitment to deliver.
The Canadian Nuclear Association looks forward to supporting this committee's work.
I welcome your questions.