Mr. Speaker, I appreciate the intervention from the hon. member reminding me of the rule. The explanation I would offer is that I was only notified a few moments ago that this debate was on and I rushed to the House without going to my office. I can assure the House that I will do better the next time.
The discussion on the bill must include two considerations which are, at least in my opinion, of some importance. I would have liked to have put them on the record at second reading but hearings of the standing committee on Bill C-5, the endangered species legislation, prevented me from doing so.
One consideration is the fact that nuclear energy corporations, wherever they may be, have followed practices which, from an accounting procedure, leave much to be desired. They do not calculate in their balance sheet and appropriately report the cost of decommissioning a plant. As is the case with a number of nuclear plants in Canada, which are now reaching a certain age, it becomes evident that the cost of decommissioning a nuclear plant, which is very high, ought to be included in the calculation of the operation of that particular corporation and also included in the cost of the electricity generated and used by the consumer. It is a hidden cost that ought to be brought to the surface and included in the charge for that particular service.
As the auditor general has repeatedly insisted in a number of reports, the most recent one, if I remember correctly, in 1997, if they were to be included the price of electricity, of course, would be more realistically close to what it should be, namely, it would be higher. There is nothing wrong with that. The cost of energy is an important factor and ought to be one that could and should lead us to more careful consumption and to higher and better levels of conservation, particularly in relation to what we are attempting to do at the present time, namely, to meet our commitments through the Kyoto agreement in the reduction of greenhouse gas emissions. Obviously if the cost of electricity is a realistic one, we would be more careful in the consumption of it and therefore the emissions would accordingly be reduced by a certain percentage.
That is the first point that needs to be stressed and I am addressing Ontario Power Generation, Hydro-Québec and New Brunswick Power Corporation. All these have been identified by the auditor general in his report. Over the last 50 years they have ignored the cost of nuclear waste disposal, as well as the decommissioning of the plants.
This brings me to my second point which is of interest to our electors and to many members of the House who come from a region where nuclear waste is being disposed or stored. The cost of this storage also needs to be accounted for. Here again we see a pattern identified by the auditor general of not taking into account the cost of this particular disposition of nuclear waste discharge or the nuclear waste that the particular plant is producing.
We must find ways of disciplining these corporations in a way that they will set aside for the decommissioning of nuclear plants the amount that is required, which means anticipating the cost and including it in the calculation of the product, namely the electricity that they make available to the consumer. If this is not done we would in a way disguise the true cost of nuclear power generation to the consumer. The cost of nuclear energy production should be paid through the electricity rates charged to the consumers from the building of the plant to its operation, its maintenance, the disposal of the nuclear waste and finally, as the fifth step in the evolution, the decommissioning of the nuclear plant. If every nuclear energy corporation were to internalize these costs, the price per kilowatt hour of nuclear power would be higher than it is currently. This would yield significantly different public policy choices with regard to the generation of electricity. Now it is kept artificially low because these costs are hidden from the consumer.
As a society, we continue to think that nuclear power generation is cheap but this is only because the true costs are not reflected in the electricity rates. As legislators and policy advisers, we continue--