bruce power limited partnership is a canadian business partnership composed of several corporations .

it exists ( as of 2015 ) as a partnership between transcanada corporation ( 31.6 % ) , bpc generation infrastructure trust ( 61.4 % ) , power workers union ( 4 % ) and the society of energy professionals ( 1.2 % ) .

it is the licensed operator of the bruce nuclear generating station , located on the shores of lake huron , roughly 250 kilometres northwest of toronto , between the towns of kincardine and saugeen shores .

this is the largest operating nuclear plant in the world by output ( kashiwazaki is currently closed in japan ) .

bruce power operates eight nuclear reactors on lake huron where it leases the bruce site from ontario power generation .

with those eight units in operation , the facility supplies 6,300 megawatts of electricity to ontario 's power grid , equivalent to nearly 30 per cent of the electricity use in the province .

bruce power became the world 's largest operating nuclear facility in 2012 , when units 1 and 2 returned to operation after a multibillion-dollar refurbishment project .

this achievement returned the site to full operating capacity for the first time in 17 years .

according to the company , " bruce power set a site record for production in 2015 , generating 30 per cent of ontario ’s electricity at 30 per cent less than the average residential price of power .

bruce power

the organization saw bruce power’s security team join forces with the fire and emergency services teams to form bruce power emergency and protective services . about 10 % of bruce power’s workforce lies within this organization .
bruce power , a nuclear power company and source of medical radioisotopes , and it . . .
bruce power has pulled the plug on an ambitious plan to construct two new nuclear power stations in ontario .
visit bruce power this summer ! bruce power offers free summer bus tours . located in the municipality of kincardine . 2 . 5 hour drive from toronto .
bruce power announced monday it will no longer go ahead with a controversial nuclear power plant proposed for peace river , alta .
bruce power started operating the generating station in may 2001 . the change in operator resulted in an increased power plant output .
if you have questions about employment at bruce power , please email hrhelpdesk @ urltoken .
bruce power was formed in 2001 as a canadian company and it leases the bruce site from ontario power generation . it is the licensee for the plant . over 90 % of bruce employees hold equity in the company .
bruce power has received confirmation from the ontario power authority ( opa ) that a force majeure ( fm ) claim under the bruce power refurbishment implementation agreement ( bpria ) , related to unit 2 , has been accepted .
privately owned bruce power will invest $ 13 billion to refurbish the world’s largest nuclear station .
throughout our existence at bruce power we ' ve looked at a number of potential business development opportunities ,
bruce power president and ceo duncan hawthorne said in a news release .
unit 1 at bruce power’s bruce a generating station set a new post - refurbishment record run today as it reached 151 days of consecutive operation .
bruce power has estimated that restarting units 1 and 2 at the bruce a station will boost bruce power ' s output to more than 6 , 200 mw - or about 25 % of ontario ' s electricity needs on a typical day .
1 ) the bruce power nuclear response team won the top prize at the u . s . national swat championships in 2012 , the seventh year in a row . ( bruce power . )
douglas point and bruce a heavy water plant are shut down . unit 6 comes online at bruce b .
over the past decade , bruce power has refurbished all four units at its bruce a station , returning 3 , 000 megawatts of low - cost , reliable electricity to ontario consumers . combined with its bruce b units , bruce power generates 6 , 300 megawatts , providing power to over one in four hospitals , homes schools and businesses in ontario .
bruce power supplies 30 % of ontario’s power , and over 50 % of its nuclear , while becoming the world’s largest operating nuclear facility with the return of units 1 and 2 . bruce power breaks a 1991 site record for site output .
bruce power is canada ' s first private nuclear generator . bruce power’s 2 , 300 - acre site on the shores of lake huron houses the bruce a and b generating stations , which each hold four candu reactors . over the past decade , bruce power has refurbished all four units at its bruce a station , returning 3 , 000 megawatts of low - cost , reliable electricity to ontario consumers . combined with its bruce b units , bruce power generates 6 , 300 megawatts , providing power to over one in four hospitals , homes schools and businesses in ontario . for more information , visit : urltoken
bruce power has contracted with bwxt canada to design and manufacture 32 replacement steam generators for the bruce b plant , for c $ 400 - 500 million .
thanks so much to the iwaasa family for making bruce power a part of your north . . .
bruce power has applied for a 10 - year operating licence renewal with the canadian nuclear safety commission .
bruce power’s 2 , 300 - acre site on the shores of lake huron houses the bruce a and b generating stations , which each hold four candu reactors .
bruce power received about 6 . 4 cents per kilowatt - hour for the electricity it generated from bruce a in 2010 , which is 1 , 500 mw of cost - effective power generation in the province .
privately - run bruce power , on the eastern shore of lake huron , will shoulder any cost overruns—a real risk given ontario’s spotty history with nuclear power .
bruce power will recoup its investment by selling power for 7 . 7 cents per kilowatt hour , which is less than the ontario average rate for electricity .
kelly trice joined bruce power as our executive vice president , projects and field services , in july 2017 .
bruce power signs a protocol agreement with the saugeen ojibway nation , on whose historical lands the site sits .
as part of our operating license , bruce power maintains a robust and multi - faceted emergency response program .
as part of our operating license , bruce power maintains a robust and multi - faceted emergency response program .
bruce power , on the shores of lake huron in ontario , consists of two generating stations : bruce a and bruce b . together they house eight reactors , six of which have been operational for the past several years .
cathy sprague is the executive vice president of human resources at bruce power . her role is to oversee bruce power’s human resources function including labour relations , recruitment , talent management , employee engagement , wellness and total rewards .
bruce power celebrates its 5th anniversary on may 11 when lieutenant governor james bartleman officially opens its new corporate headquarters on the bruce site . bruce b also finishes the year as the top - performing multi - unit nuclear plant in canada .
while bruce power carries out a range of activities to manage the commercial impacts of the unit 2 event , the other operating units at bruce a will continue to receive the contracted price of power from the bruce a facility . the output from bruce a is low - cost , reliable and safe electricity that is essential to meeting ontario’s energy needs .
don mackinnon , president of the power workers’ union , said the bruce announcement is “good news for ontario . ”
bruce power , the world ' s largest operating nuclear facility , has mobile applications on android and ios that feature interactive calculators and information about our site . download through the app store or google play store . bruce power app
bruce power and the government of ontario committed to resuming the operations of bruce a units 1 and 2 in 2005 to meet the growing demand for power . the project was entitled , ‘bruce a refurbishment for life extension and continued operations project’ . refurbishment of both the units began in 2009 .
kevin joined bruce power as the head of finance when the company was formed in 2001 after working with british energy when that entity acquired 80 % of bruce power . in 2005 , he was appointed as vice - president finance and supported the 2005 bruce power refurbishment agreement negotiation team and the related restructuring of bruce power . he has also served as the chief financial officer , acting chief executive officer , and executive vice president , finance and commercial services .
bruce power alberta announced today it has selected the whitemud site approximately 30 km north of peace river as the preferred option for a potential nuclear power plant in alberta .
every year thousands of visitors arrive at the bruce power visitors’ centre to learn more about nuclear energy and electricity generation .
michael w . rencheck was appointed the president and chief executive officer of bruce power starting aug . 15 , 2016 .
for others ,
she said . bruce power also looks for candidates with post - secondary education and life experiences .
peevers aid bruce a units 1 , 2 and 4 and the four bruce b units continue to provide electricity to the ontario grid .
bruce , which accounts for 30 per cent of ontario’s power generation , is slated to be in operation until the 2060s .
the interactive bruce power ipad app teaches users about nuclear energy , ontario ' s supply mix and how they use electricity .
the bruce power visitors’ centre is an interactive , fun way for your family to learn about ontario’s most important energy provider .
the new democrats want the ontario energy board to review the agreement with bruce to make sure the power is actually needed .
bruce power assumes operational control of the site and confirms plans to restart units 3 and 4 . terrorist attacks in the u . s . prompt the formation of a full - time , rapid - response , armed security force at bruce power .
in a first for ontario , bruce power will assume all financial risk of cost overruns from the overhaul of six of bruce’s eight reactors . cost overruns are the norm on candu reactor projects .
units 3 and 4 of bruce a had been laid up early in 1998 , and were returned to service in january 2004 and october 2003 , respectively as an early priority of bruce power .
bruce power said it has notified the canadian nuclear safety commission and the canadian environmental assessment agency that it will withdraw its site licence applications and suspend its environmental assessments in bruce county and nanticoke .
bruce power is also expanding its pre - arranged bus tour program to be year - round . if your service club , social organization or municipal group would like to visit bruce power , email bnpdvisitorcentre @ urltoken or call 519 - 361 - 7777 .
have a question about employment at bruce power ? email us . please note : we are unable to accept applications via email .
transmission lines run from the bruce nuclear power plant on lake huron to milton , ont . bruce power says it can complete final safety checks on a unit at the plant that has been out of service since 1995 . ( colin perkel / canadian press )
five of the six competitors are also homegrown , bruce power talent , he added , while only one has a military background .
“throughout our existence at bruce power we’ve looked at a number of potential business development opportunities , ” said duncan hawthorne , bruce power’s president and chief executive officer . “we’ve decided the new nuclear option in alberta is not something our company will be progressing further . ”
bruce power’s executive team is responsible for over 4 , 000 employees who work to provide ontario with over 30 % of its electricity .
3 ) bruce power boasts a team of 400 highly trained emergency personnel , and state of the art firefighting equipment and technology . the company also has portable backup generators and after fukushima , the company invested in specific post - fukushima training . ( bruce power . )
bruce power , in partnership with the grey bruce health unit and regional municipalities , made potassium iodide ( ki ) tablets available to all residents , schools and businesses within a 50 kilometre radius of bruce power in 2015 . those within a 10 km radius received the tablets , while those further from the facility received coupons and information on ki .
the story of the bruce power site begins in the 1960s when douglas point , canada’s first commerical reactor , was built and placed into service . learn more about nuclear energy’s rich history on the bruce site .
young girls from the port elgin area had the lucky opportunity to spend some one - on - one time with a member of bruce power ' s nuclear response team ( nrt ) during a session of girls science club at the bruce power visitor centre sept . 16 .
a lease agreement to operate the bruce station was signed between opg and bruce power in 2001 . the agreement made was for a lease period of 18 years , with the option to renew for another 25 years .
no public money will go into the bruce refurbishment , but the company will earn a premium for the power it sells to the system .
we welcome you to view the current employment opportunities at bruce power . to apply for any of these opportunities , submit your application online .
if you’re interested in becoming a new supplier for bruce power , please click here to learn about our new supplier pre - qualification portal .
bruce power ' s a and b sites are visible on the shores of lake huron , about 20 minutes north of kincardine , ont .
regulators have cleared unit 2 of the bruce a nuclear power plant in ontario to restart after a nearly two - decade - long slumber .
a multi - billion dollar agreement is reached between bruce power and the ontario power authority paves the way for the refurbishment of units 1 and 2 , which were shut down in 1997 and 1995 respectively .
when units 1 and 2 return to service in 2012 , bruce power , canada’s only private nuclear power generating station , will operate the largest nuclear facility in the world , its eight units producing a quarter of ontario’s electricity and half of the nuclear power in ontario .
bruce a and bruce b of the power plant incorporate four candu reactors , the components of which are housed in a heavy - walled pressure vessel . the reactor comprises fissionable and moderating materials that control the reaction rate .
following discussions with the opa during this process , bruce power has also made a number of operational adjustments for 2012 . bruce power is executing an expanded outage investment program on unit 4 , in support of extending the life of the unit to the end of decade , at a cost to bruce power of $ 120 million . the work program will involve 800 temporary workers at peak and will be completed in the fourth quarter .
“if it costs us more — $ 7 billion or $ 70 billion — bruce power will bear the cost of that , ” said hawthorne .
our updated agreement with bruce power secures 6 , 300 megawatts of emission - free , low - cost electricity supply ,
he said .
bruce power is a partnership among cameco corp . , transcanada corp . , borealis infrastructure ( a trust established by the ontario municipal employees retirement system ) , the power workers’ union and the society of united professionals .
since late - 2007 , when bruce power acquired energy alberta , the company has become known in alberta and peace country , developing and evaluating the possibility of building a new nuclear facility to power alberta’s growing economy .
as alberta oil senior editor jeff lewis reported nearly two years ago , bruce power’s peace country nukes proposal was dogged from the start by fierce local opposition , industrial indifference and the staggering price tag nuclear power carries .
the contract is part of bruce power ' s refurbishment and restart of units 1 and 2 at the bruce a station located near tiverton , ontario . work on the project begins immediately and will take approximately 3½ years to complete .
other partners in the bruce power partnership include borealis infrastructure , which is wholly owned by the ontario municipal employees retirement system , uranium miner cameco corp . , the power workers ' union and the society of energy professionals .
decisions on the four bruce b reactors were pending , though in july 2009 bruce power announced that it would focus on refurbishing these rather than building new plants at bruce , the expected cost being about half that of new plants . early in 2010 the company completed work to uprate the four units from 90 % to 93 % of original design capacity by modifying the fuel loading . from 2001 to 2015 bruce power spent about c $ 10 billion on the whole plant .
in october 2012 , bruce power was one of many participants in an emo exercise called huron challenge – trillium resolve . many members of our staff worked tirelessly in preparation for this exercise , which gave us the tools to be better prepared for any external hazards that bruce power may face in the future .
the decision to refurbish the units followed a 2005 agreement by bruce power and the government of ontario to refurbish the two 750 mwe candu reactors as a faster option than building new ones in the face of impending power shortages .
ontario’s electricity market opens to competition . transcanada corp . and bpc generation infrastructure trust ( omers ) join cameco , the power workers’ union and the society of energy professionals in the bruce power partnership , while british energy withdraws .
bruce power l . p . po box 1540 177 tie rd . , r . r . 2 , tiverton , ontario n0g 2t0 contact us | map
bruce power , in partnership with the saugeen valley conservation authority , is pleased to offer a wide variety of environmental and conservation awareness programs to area schools .
if the refurbishments come in under budget , bruce power , which is owned in part by transcanada corp . , would get a share of the savings .
bruce power has decided it will no longer advance the option for a new nuclear plant in alberta that has been under consideration by the company since 2007 .
bruce power will continue to work with its investors and the ontario power authority on the feasibility of securing 6 , 300 megawatts ( mw ) from the bruce site following the successful restart of units 1 and 2 in 2012 , which will inject another 1 , 500 mw of baseload generation into the ontario market .
bruce power is paid for all electricity from bruce a on the basis of a 6 . 3 cents / kwh current reference price capped for 25 years ( cf 6 . 765 ¢ / kwh average ontario spot price in 2005 , and 4 . 5 ¢ / kwh floor price for bruce b – units 5 - 8 ) . the difference between the actual capital expenditure and $ 4 . 25 billion ( apart from unit 4 refurbishment ) is shared between the government and the investors . one of the partners in bruce power , cameco ( 31 . 6 % ) , said before commencement that while it strongly applauded the project it did not meet cameco ' s investment criteria , so it received a $ 200 million payout of its interest in bruce a . the other partners set up bruce a limited partnership ( balp ) to sublease bruce a from bruce power and to pay for the project .
following this detailed site analysis and pending a favourable panel report , bruce power alberta could be in a position to launch a formal environmental assessment ( ea ) in 2010 . a successful ea would be a key piece of the decision - making process for bruce power alberta as it considers new nuclear generation for alberta .
during his work at bruce power , john has been the executive vice president , strategic initiatives , and vice president of the bruce a restart project . he also holds a masters’ degree in business administration , with distinction , from the haskayne school of business and is a mechanical engineering technologist and a fourth class power engineer .
the ontario power authority ( opa ) and bruce power continue to work together to secure an important source of cost - effective and emission - free electricity for ontario ratepayers through the long - term supply of 6 , 300 mw from the bruce power site . this critical component of ontario’s supply mix is one of the key features in the ministry of energy’s november 2010 long - term energy plan .
once the work is complete , bruce power will be the world ' s largest nuclear facility , generating more than 6 , 200 megawatts or about 25 per cent of ontario ' s power . it currently produces 4 , 700 megawatts .
bruce power will continue to provide approximately one - third of its output ( 2 , 400 mw ) as flexible generation , allowing the province to permanently balance system needs in its post - coal environment . this is a feature that only the bruce power units can provide , and has been used frequently by the ieso since 2009 .
bruce power crews handled a spillage of radioactive water at the site ' s unit 3 reactor , but said there is no impact as a result of the incident .
about 15 % of canada ' s electricity comes from nuclear power , with 19 reactors mostly in ontario providing 13 . 5 gwe of power capacity .
in august 2006 , bruce power applied for a licence to prepare its 9 . 3 km 2 bruce site for construction of up to four new reactors as bruce c . the canadian nuclear safety commission ( cnsc ) accepted the company ' s project description for 4 , 000 mwe in january 2007 . bruce power submitted an environmental impact statement in september 2008 , showing that up to four new reactors at bruce c would have no significant environmental effect . the new units were envisaged as coming on line beginning in 2015 . six different reactor types were under consideration . however , in july 2009 , the company announced that it would withdraw its site licence application and suspend its environmental assessment for bruce c , and focus on refurbishment of bruce a and b ( a major task – see above ) .
in october 2008 , bruce power announced it would conduct an environmental assessment for two new nuclear units in the haldimand - norfolk region of southern ontario . the region was home to opg ' s 4 , 096 mwe nanticoke generating station , the largest coal - fired power plant in north america . although both the haldimand and norfolk councils supported the bruce power proposal , as well as 80 % of residents , according to an ipsos - reid poll , the ontario government did not support it . in july 2009 , bruce power withdrew its site licence application and suspended its environmental assessment . 4
before visiting bruce power in the winter , please check the local weather . we are located in an area that receives a lot of snow and driving can be hazardous .
a project of this magnitude has never been done before on a candu reactor and that cannot be overlooked ,
said bruce power ceo duncan hawthorne in a release .
when we committed to additional investments in bruce a , we said the restart project was an attractive , long - term growth opportunity for transcanada . with this milestone being reached , we move further toward realizing the sustainable earnings we expect bruce power to generate .
unit 2 at bruce a is shut down and place in layup by the former ontario hydro .
unit 1 at bruce a is shut down and placed in layup by the former ontario hydro .
len joined bruce power in 2008 and was most recently the vice president of nuclear maintenance services . len was appointed as executive vice president and chief nuclear officer in august 2012 .
bruce power will spend $ 13 billion to refurbish six of the eight nuclear reactors at its generating station near kincardine , ont . , and assume all risks for cost overruns .
bruce power said friday it can complete final safety checks and prepare to synchronize the reactor , which has been out of service since 1995 , to ontario ' s electrical grid .
e . when the government selected darlington for new nuclear capacity , it affirmed the importance of privately - run bruce power and the need for it to contribute 6300 mwe of nuclear capacity , and maintaining this level of capacity beyond the present planned operating lifetime of bruce b . a decision on refurbishing bruce b ( 3290 mwe ) is pending but highly probable , now that the alternative proposal to build four new reactors there as bruce c has been shelved . [ back ]
of ontario’s power from its eight - unit facility along the lake huron shoreline .
nonetheless , nuclear power kind of sits in the background of alberta’s energy debate .
later , in 1999 , ontario hydro was divided into five divisions , including ontario power generation ( opg ) , which operates all power generating stations in canada .
the power plant refurbishment is expected to cost $ 5 . 25bn .
prior to his role at bruce power , kevin was responsible for setting up the reporting and governance structure for british energy in north america . during this time he also served on the due diligence and transition team focusing on the transaction between bruce power and ontario power generation . kevin has also worked at bdo’s toronto office where he was responsible for managing various operational and financial client groups that consisted of both owner - managed businesses and public companies .
the western waste management facility stores all the low - and intermediate - level nuclear waste from the operation of opg ' s 20 nuclear reactors , including those leased to bruce power .
through an agreement with the province of ontario , bruce power will extend the life of six nuclear units over the next 20 years , investing billions of private dollars into the site .
the power generated by bpgs is transmitted to major load centres and local areas . the transmission system comprises five lines of various ranges to connect bruce area with rest of the ontario .
building on a strong track record of ‘safety first , ’ bruce power has formed an integrated emergency response organization , bringing all of its emergency response capabilities under a single command structure .
nuclear response team - security salaries at bruce power can range from $ 95 , 152 - $ 103 , 030 . this estimate is based upon 1 bruce power nuclear response team - security salary report ( s ) provided by employees or estimated based upon statistical methods . see all nuclear response team - security salaries to learn how this stacks up in the market .
housed on a 2 , 300 - acre site , the power plant comprises two generating stations , namely bruce a and bruce b . all reactors of bruce a were temporarily laid off between 1995 and 1998 to concentrate on other resources of ontario hydro , while bruce b reactors remained in service . the third and fourth units of bruce a resumed service in january 2004 and october 2003 respectively . units 1 and 2 are yet to restart and are currently under construction . units 1 and 2 are expected to re - enter commercial operation in third quarter and first quarter of 2012 respectively .
toronto , ontario – january 10 , 2006 : aecon group inc . ( tsx : are ) announced today that a joint venture in which its industrial division is a 50 % partner has secured a $ 204 million contract at bruce power ' s ' bruce a ' generating station .
units 5 , 7 and 8 at bruce b remain online to help restore power to the grid after a massive blackout leaves large parts of ontario and the northeastern u . s . without power . unit 4 is returned to service for the first time since 1998 .
prior to joining the bruce power , len held senior leadership roles including plant manager , site engineering director and operations manager . len was previously licensed as a senior reactor operator at a pressurized water reactor and performed in the control room supervisor and shift manager roles . len also spent 14 years with florida progress corporation and came to bruce power from xcel energy in minnesota .
but cost overruns — which are the norm on candu reactor projects — would be bruce’s problem alone .
plans are announced for four nuclear reactors at bruce a , as well as a heavy water plant .
construction begins on the bruce learning centre ( called the western nuclear training centre at the time ) .
in december , 2015 , bruce power and the independent electricity system operators ( ieso ) announced an amended , long - term agreement to secure 6 , 300 megawatts of electricity from the bruce power site , through a multi - year investment program . bruce power will begin main component replacement on units 3 - 8 in 2020 , starting in unit 6 . this will generate between 1 , 500 and 2 , 500 jobs on site annually – and 18 , 000 across ontario directly and indirectly – while injecting up to $ 4 billion annually into ontario’s economy .
bruce power recently disclosed that the refurbishment of units 1 and 2 are approximately 85 % complete and will return to commercial operation in 2012 . the contract was amended to reflect this timeline .
davidson , personally , sees a few potential problems for nuclear power in the province .
congratulations to everyone involved over the years to stop the nuclear power plant in alberta .
bruce power is a partnership among transcanada corp . , omers infrastructure management inc . ( a trust established by the ontario municipal employees retirement system ) , the power workers’ union and the society of energy professionals . over 90 % of employees also own a part of the company .
“all of the risk , basically , of operations and what the impact might be are on bruce — we pay for the power that we receive and not anything else , ” he said .
in addition to refurbishment of units 1 and 2 , bruce power is investing approximately $ 300 million in 2011 and 2012 to add 10 more years of reactor life to units 3 and 4 , which will continue to supply 1 , 500 megawatts ( mw ) of baseload electricity until 2021 , when the units are due for refurbishment under the existing contract between the opa and bruce power .
nuclear response team ( nrt ) officer paula turner visited with local girls on friday , sept . 16 when another girls science club was held at the bruce power visitor centre . turner shared information about her job and answered questions from the attentive and eager crowd . bruce power engineer louise jack lead the club session on friday morning , by helping the girls discover the science behind csi .
bruce a and heavy water plant construction begins , while a proposal for a bulk steam system is proposed .
bruce power , canada’s first private nuclear generator , signed a letter of intent to buy certain assets of energy alberta corporation in 2010 , but in 2011 , the development was halted . file photo .
a . the four pickering a reactors were laid up in 1997 . pickering a4 was restarted in 2003 and pickering a1 in 2005 . there are no plans to bring pickering a2 and a3 back into service and these two units are not listed in the table . bruce a2 was taken out of service in 1995 , a1 followed in 1997 , and bruce a3 and a4 in 1998 . bruce a3 and a4 were restarted in 2004 and 2003 , respectively . bruce a1 and a2 were restarted in 2012 . bruce b8 achieved a 3 % uprate to about 822 mwe in march 2010 , the last of the bruce b units to do so through re - ordering the fuel bundles since 2004 . the bruce a units had been done prior to 2001 . [ back ]
units 1 and 2 returned to service in 2012 after an extensive refurbishment project as part of the renewal of bruce a that began with the return of units 3 and 4 in 2003 . the units have performed admirably since their refurbishment and bruce power set a site record for production in 2015 , generating 30 per cent of ontario’s electricity at 30 per cent less than the average residential price of power .
our power plants have highly - trained , internationally recognized professional security teams . need proof ?
hydro consumers shouldn ' t be concerned about the four - year delay , because bruce power found
innovative ways
to extend the life of its nuclear reactors , said president and ceo duncan hawthorne .
the refurbishment contract with bruce power continues to provide good value . a july 2009 contract amendment protects ratepayers from cost overruns – ratepayer exposure is capped at $ 3 . 4 billion . this remains unchanged .
for example , if the government decides that it doesn’t need to refurbish all six bruce reactors , it can opt out of some work—say , if a sluggish economy or new technology means that ontario’s electricity demand isn’t as high as projected . but bruce power would be compensated , in that case , with higher prices .
bruce power generating station ( bpgs ) is the first private nuclear power plant in toronto , ontario , canada . it is the largest nuclear power generating plant in north america and the second largest in the world , the first one being japan - based kashiwazaki - kariwa . owned by ontario hydro , bpgs is located on the shores of lake huron , 250km north - west of toronto .
the federal nuclear regulator , the canadian nuclear safety commission ( cnsc ) said in an e - mail it was informed of the incident by bruce power , in accordance with its licence conditions , of a failure of the primary heat transport pump seals on a pump in unit 3 at the bruce a nuclear generating station .
bruce power said early in the day on aug . 2 , 2017 , with unit 3 in a planned shutdown , crews encountered an issue with a pump as they aligned the unit for an inspection program .
plant operator bruce power received permission from the canadian nuclear safety commission in mid - march to restart bruce a unit 2 following the completion of refurbishment work on the 750 mwe candu , which has been idle for almost 20 years . however , during recent preparations to synchronize the unit to the electrical grid , an unspecified incident occurred which caused
some damage
to the electrical generator on the non - nuclear side of bruce ' s operations . the generator had been replaced as part of the refurbishment project by siemens canada . bruce power noted that the electrical protection system
worked as designed and the approach to connect to the grid was stopped .
the network has the capacity to transmit around 5 , 000mw of power from the generating station .
bruce power is excited to introduce a new service for those who are not able to make it to the site in person . the visitors’ centre now offers online presentations using the lync application . educators can connect to our meetings via computer or tablet . with an audio device enabled , students are invited to join in the dialogue and ask any questions they may have regarding nuclear power . this service is ideal for those who are located far from bruce power and are not able to orchestrate a trip to the visitors’ centre .
when turner asked if all the girls were going to get jobs at bruce power they replied with their dream careers , which included professional swimmer , veterinarian , interior designer , lawyer , financial planner and fashion designer .
a proposal to build four reactors at bruce b is approved by the ontario government . construction begins the following year .
bruce power operates two nuclear stations it leases from the ontario government at the port elgin site . in a statement , the company said it will focus on refurbishing reactors at these stations rather than embarking on new construction .
the alberta government also opened the door to considering the nuclear option , under some conditions , following a public consultation process throughout the province . after extensive analysis and environmental studies , bruce power also identified an ideal site .
many of the other teams are full - time competitors , while bruce power’s members are a cross - section of the nuclear response team , and were returned to their regular around - the - clock duties upon returning .
while bruce power’s focus continues to be on delivering safe and reliable electricity , the company has strived to be an industry leader in safety and emergency preparedness ; over the years , developing industry - leading emergency response capabilities .
in 2010 , nuclear power accounted for 55 % of ontario’s power supply . the long - term energy plan calls for nuclear to be about 50 % over the 20 - year of the plan .
bruce power is canada’s first private nuclear generator , providing 30 % of ontario’s power . our eight units provide over 4 , 000 full - time , direct jobs to highly skilled employees , and thousands more indirectly . we inject billions of dollars into ontario’s economy annually , while producing safe energy that produces zero carbon emissions .
units 1 and 2 at the four - unit bruce a plant started up in 1977 , but unit 2 was shut down in 1995 because a steam generator suffered corrosion after a lead shielding blanket used during maintenance was mistakenly left inside . in the late 1990s then - owner ontario hydro decided to lay up all four units at the plant to concentrate resources on other reactors in its fleet , and unit 1 was taken out of service in december 1997 with units 3 and 4 following in 1998 . the four units at sister power station bruce b continued to operate . bruce power took over the operations of both bruce plants from ontario hydro in 2001 and restarted units 3 and 4 by early 2004 . bruce a units 3 and 4 are likely to undergo refurbishments once units 1 and 2 are back in operation .
transcanada said it expects its share of the capital cost of the bruce refurbishment to be $ 2 . 4 - billion .
next , nuclear power requires constant vigilance and risk management for its waste and safety on - site .
bruce power will continue to be responsible for all project costs over $ 3 . 4 billion as agreed to in june 2009 , while also assuming responsibility for the lost revenue associated with the unit 2 fm event . repairs to the non - nuclear system on unit 2 are expected to be complete and unit 2 generating electricity in the fourth quarter of this year . bruce power will also continue to assume all cost and schedule impact related to the event .
transcanada corporation , which owns 49 % of bruce a and 32 % of bruce b , said that the incident
will likely mean unit 2 will not be synchronized to the ontario electrical grid as previously stated in the second quarter of 2012 .
it states that there is potential for nuclear power in alberta but , ultimately , “the government of alberta has decided to maintain its existing policy where power generation options are proposed by the private sector in the province , and any nuclear power proposal would be considered on a case - by - case basis . ”
for all residents , schools and businesses within a 50 km radius to bruce power , distribution pick - up points have been made available for you to pick up tablets should you choose . visit urltoken for pick - up locations .
the plant’s construction and installation work was completed by ontario hydro by 1987 . the first two units of bruce a started operating in 1977 and the next two units followed in 1978 and 1979 respectively . all bruce b reactors started operating during 1984 - 1987 .
the long - awaited return to service of the refurbished unit 2 of the bruce a nuclear power plant in ontario , canada , has been delayed due to damage in an electrical generator on the non - nuclear side of the plant .
housed on 2 , 300 - acre site , the nuclear power plant comprises two generating stations .
unexpectedly for a source of power that’s frequently touted as carbon - free , the greenhouse gas emissions from ontario’s electricity sector are going to increase as a result of the refurbishment process—but not from the nuclear power itself .
while bruce power has limited ability to adjust its production to follow the province’s electricity demand , natural gas plants can be turned on and off more easily than nuclear reactors and provide power at peak times . the glut of natural gas from the u . s . has also made natural gas more attractive for all - day , or “baseload” generation .
for the seventh consecutive year , bruce power’s nuclear response team’s competition team has claimed top spot at the security protection officer team competition ( spotc ) , held at the savannah river site ( srs ) in south carolina in late - april .
kelly also served as the president of the company’s power division , which constructed large - scale power plants , and as president of their project services group , the proxy company responsible for the mixed oxide fuel fabrication program .
the decision will have no impact on the company ' s interest in building nuclear power stations in alberta and saskatchewan . both provinces are expected to issue policy statements on nuclear power this year , according to the company .
bruce power president and ceo duncan hawthorne stressed “we are 100 per cent accountable for over - budget or late — no ambiguity . ”
work on unit 1 of bruce a is still underway , and operations on that reactor should restart during the third quarter of 2012 .
bruce units 3 , 4 , 6 and 7 place in the top 10 reactors in the world for the previous year’s excellent performance .
following initial inspections , bruce power said ,
it is clear repairs will need to be made to this electrical generator .
the company said that siemens canada would help assess the situation and then complete the repairs
as soon as possible .
bruce power noted ,
although the unit 2 reactor is ready to operate , the repair to this non - nuclear system will have an impact on when unit 2 will be able to deliver electricity to the grid .
it added ,
this delay will not have an impact on ontario ' s electricity system reliability due in part to the strong performance of bruce power ' s operating fleet , nor is it expected to materially change the cost of the restart project .
the visitors’ centre is an ideal field trip destination for elementary , secondary and post - secondary school groups and educators . presentations are tailored around ontario’s school curriculum . bruce power outlines its operations and provides an introduction to the candu nuclear system . a presentation that summarizes the science behind electricity and different forms of energy production in ontario can also be arranged . for those who may be interested in joining the bruce power team in the future , we are also happy to offer information on careers .
sometimes things are so obvious they don’t warrant an announcement . so you have to wonder why bruce power’s felt it needed to issue a press release today stating that it is no longer going ahead with plans to build a 4 , 000 megawatt nuclear power plant in northern alberta . everybody in alberta assumed the project was dead . was the company looking for closure ?
the government says the deal with bruce will save the average household using 800 kilowatt hours a month of electricity about $ 66 a year .
murray elston , bruce power ' s vice - president of corporate affairs , rejected mr . stensil ' s assertion , saying
it really is the fact that right now the capacity of our system to generate is well beyond what our demand is .
bruce power and the ontario government have signed an agreement that will keep the company’s nuclear plant running at least until 2064 . the price tag ? according to everyone involved , $ 13 billion from private capital and none from the ontario taxpayer or hydro customer .
len has more than 30 years of nuclear power operations experience with roles in operations , engineering , projects and maintenance .
but , over the years , nuclear power has been touted as a viable source of clean energy for the world .
“the empirical record of nuclear power safety doesn’t really match the degree of public concern . if you look at the history of coal - fired power plants and coal mining , there are much higher levels of health and environmental concerns . ”
two of the five lines are 500kv and transmit power to the major load centres , milton station and longwood station . the remaining three double - circuit 230kv lines supply power to stations in the kitchener , orangeville and owen sound areas .
aecon is currently working on a previously announced $ 17 million project at bruce a involving modifications to the station ' s secondary irradiated fuel bay .
facing an impending power shortage , the provincial government ' s ontario power authority in october 2005 agreed with bruce power to refurbish its oldest bruce a reactors , each with 769 mwe capacity ( see appendix 1 : ontario energy policy ) . unit 2 had been laid up in 1995 due to a maintenance accident in which lead contaminated the core . unit 1 was laid up along with the four pickering a units at the end of 1997 , to allow operational focus on newer plants . their operational lifetimes were extended by 25 years . refurbishment of units 1 & 2 followed units 3 & 4 being returned to service by 2004 and was completed in 2012 .
effective at the end of december 2013 , cameco sold its 31 . 6 % interest in bruce power lp ( effectively bruce b ) to borealis infrastructure , one of its partners , for c $ 450 million . borealis is a division of the ontario municipal employees retirement system ( omers ) , doubling its share to 63 . 2 % . transcanada corporation , the power workers ' union and the society of energy professionals are other equity holders , and transcanada is acquiring some of omers’ holding so that each have 48 . 5 % .
in the wake of the tsunami and nuclear incident at the nuclear facility in fukushima , japan , in 2011 , bruce power added a number of enhancements to our site to both comply with new regulatory requirements , and to ensure that we continue becoming safer and stronger .
bruce power’s team claimed first place in eight of nine events , receiving 990 . 5 of a possible 1 , 000 points . the spotc is a competition for the u . s . - based department of energy ( doe ) security forces , but is also open to us military and police swat , as well as canadian and u . k . teams , which compete in the non - doe category . bruce power was represented by officers jordan macdougall , mike mcfarlane , rob bosman , sam mcculloch , kyle roulston and jeff steven .
in 2003 , the canadian nuclear safety commission ( cnsc ) approved the environmental assessment ( ea ) for the restart of bruce a units 3 & 4 . as part of their decision , the cnsc required that a follow - up monitoring program be implemented and that the first nations be involved in the development and implementation of the program . the ea follow - up monitoring program activities involve : 1 . studying the effects of the thermal plume on spawning habitat ; and 2 . discrimination of whitefish populations in the waters adjacent to bruce power . sampling activities include impingement and entrainment monitoring of whitefish at the bruce a facility . in 2006 , the cnsc formally accepted the results and conclusions of the units 3 & 4 follow - up monitoring . saugeen ojibway biologists continue to take an active role in bruce power ' s ongoing envirionmental monitoring program .
bruce’s guarantee of 7 . 7 cents per kilowatt hour of electricity is lower than the ontario average , but it’s higher than what they’ve charged in the past . furthermore , while the government insists bruce is on the hook for cost overruns , the cost of electricity could go up for other reasons .
for $ 13 billion of private capital , ontario will get 6 , 300 megawatts of nuclear power capacity for 50 years .
proposals have also been made for a third reactor in new brunswick , mainly for the purpose of exporting power to new england .


nerdwallet is an american personal finance website that helps people make and manage financial decisions by comparing various products available from various banks and insurance companies .

founded in 2009 , the company by 2016 had a valuation of $ 550 million and projected revenue of about $ 100 million .

nerdwallet

nerdwallet ' s founder & ceo , tim chen , currently has an approval rating of 73 % . nerdwallet ' s primary competitors are
owler has collected 14 screenshots of nerdwallet ' s website since may 2014 . the latest nerdwallet website design screenshot was captured in sep 2017 .
hal bundrick is a staff writer at nerdwallet , a personal finance website . email : hal @ nerdwallet . com . twitter : @ halmbundrick
bev o’shea is a staff writer at nerdwallet , a personal finance website . email : boshea @ nerdwallet . com . twitter : @ beverlyoshea .
nerdwallet compare , inc . is paid an advertising fee by lenders for the goods , facilities , and services provided by nerdwallet compare , inc .
since nerdwallet was founded in 2009 , it has participated in 3 rounds of funding . in total nerdwallet has raised $ 105 . 0m . nerdwallet ' s last funding round was on oct 2015 for a total of $ 5 . 0m
nerdwallet posted a video
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on youtube
nerdwallet is a financial platform that provides information and services on personal finance , travel , education and shopping . nerdwallet ' s headquarters is in san francisco , california . nerdwallet has a revenue of $ 5 . 8m , and 337 employees . nerdwallet has received a total of $ 105m in funding . nerdwallet ' s main competitors are credit , money under 30 and totallymoney . as of june 2018 , nerdwallet has 124 . 8k fans on facebook and 51 . 4k followers on twitter .
nerdwallet currently has 51 , 360 followers on twitter . as of july 2013 nerdwallet had 7 , 434 followers . that ' s a 590 percent increase in 4 years
nerdwallet currently has 124 , 817 fans on facebook . as of january 2014 nerdwallet had 8 , 587 fans . that ' s a 1353 percent increase in 4 years
and employs more than 400 nerds . nerdwallet was ranked no . 76 on the 2016 technology fast 500 award list . for more information , visit nerdwallet . com .
nerdwallet is a financial platform that provides information and services on personal finance , travel , education and shopping . nerdwallet was founded in 2009 . nerdwallet ' s headquarters is located in san francisco , california , usa 94103 . it has raised . . .
millions of people use nerdwallet to improve their finances for the things they want most .
claire tsosie is a staff writer at nerdwallet , a personal finance website . email :
mpower financing announced today a partnership with personal finance resource nerdwallet , granting it . . .
nerdwallet compare , inc . nmls id # 1617539 | nmls consumer access | licenses and disclosures
those who know a thing or two about finance have some great things to say about nerdwallet .
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nerdwallet ' s tailored advice , content and tools ensure you ' re getting more from your money .
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you are not required to purchase additional products or services from nerdwallet compare , inc . or from any person or entity suggested or recommended by nerdwallet compare , inc . however , nerdwallet compare , inc . reserves the right to approve the entity selected by you , which approval may not be unreasonably withheld .
millions of people use nerdwallet to stretch their dollar , track their progress and get more from their money .
using this product until i saw their piece of shit ad played over and over again on hulu . nerdwallet
philip reed is a staff writer at nerdwallet , a personal finance website . email : preed @ urltoken .
in this series , nerdwallet interviews people who have triumphed over debt using a combination of comm . . .
nerdwallet compare , inc . does not accept any fees from the consumer , including third - party fees .
sreekar jasthi is a data analyst at nerdwallet , a personal finance website . email : sreekar @ urltoken .
these accounts and institutions represent the best of their respective categories , but nerdwallet knows that everyone has a unique financial situation . consumers can easily identify the best products for their specific needs by using nerdwallet ' s free checking account comparison tool and savings account comparison tool . detailed nerdwallet reviews of each product can be found online .
totallymoney is nerdwallet ' s # 3 rival . totallymoney is a private company that was founded in 2009 in london , england . totallymoney operates in the mortgage finance industry . compared to nerdwallet , totallymoney has 327 more employees .
nerdwallet posted a video
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on youtube
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nerdwallet compare , inc . provides mortgage information at no cost to you . nerdwallet compare , inc . will not charge or seek fees of any kind from you . nerdwallet compare , inc . receives fees from lenders and may be paid by the lender based on services , goods or facilities performed or provided by us to the lender .
bbva compass ' high marks in all categories give the bank good
consumer potential ,
according to nerdwallet .
“we make an honest to goodness effort to list every credit card , ” said tim chen , nerdwallet’s founder . by
ellen is a personal finance writer at nerdwallet . she has been a writer and editor at bloomberg and time inc .
greg is a personal finance writer at nerdwallet . he previously worked at the chicago tribune and wrote two money books .
the first step to a successful home buying experience is being prepared , says tim manni , a nerdwallet mortgage expert .
nerdwallet became profitable as a consumer resource that matched credit card customers with banks , which pay the company fees for successful sign - ups . so nerdwallet hopscotched over some typical startup fundraising milestones before it finally took money from venture capital firms .
nerdwallet has employees and is the first highest among it ' s top 10 competitors . the top 10 competitors average 91 .
credit is seen as one of nerdwallet ' s top competitors . credit ' s headquarters is in san francisco , california , and was founded in 1995 . credit competes in the systems software industry . credit generates 881 % of nerdwallet ' s revenue .
tailored advice . expert content . helpful tools . nerdwallet makes it easy to know you ' re getting more from your money .
while nerdwallet’s big fundraising round may help attract talent , chen says that wasn’t the main reason for lining up so much capital .
claire is a personal finance writer at nerdwallet . her work has been featured by forbes , usa today and the associated press .
texas texas sml mortgage company license # 1617539 ; nerdwallet compare , inc . , 805 country club drive , heath , texas 75032
nerdwallet compare , inc . is not acting as your agent in connection with obtaining a residential mortgage loan . while nerdwallet compare , inc . will seek to assist you in meeting your financial needs , we cannot guarantee the lowest or best terms in the market .
money under 30 is one of nerdwallet ' s top rivals . money under 30 was founded in 2006 , and its headquarters is in san francisco , california . money under 30 competes in the mortgage finance field . money under 30 has 330 more employees than nerdwallet .
( the paypers ) nerdwallet has announced a new skill for amazon alexa , amzn , which is now live in alexa . . .
san francisco , dec . 11 , 2017 / prnewswire / - - according to nerdwallet ' s 2017 american household credit . . .
san francisco , aug . 23 , 2016 / prnewswire / - - according to nerdwallet ' s second annual consumer credit . . .
erin el issa is a staff writer covering personal finance for nerdwallet . follow her on twitter : @ erin _ el _ issa .
nerdwallet offers consumers clarity for all of life ' s financial decisions . whether it ' s regarding credit cards , insurance , loans or investing , people lack the clear , unbiased information they need to make the best choice . with nerdwallet , consumers have free access to user - friendly tools and advice that save time and money , and give them the freedom to do more . nerdwallet is based in
cit bank ' s premier high yield savings account has been included in nerdwallet ' s list of the best savings accounts of 2018 .
yes ! you can sign in to nerdwallet at any time to see your free credit score , your free credit report information and more .
nerdwallet ' s revenue is the third highest among it ' s top 10 competitors . the top 10 competitors average $ 1 . 4m .
travel & tourism industry release : tustin , calif . , jan . 17 , 2018 / prnewswire / - nerdwallet has named . . .
san francisco , oct . 17 , 2017 / prnewswire / - - nerdwallet , the company 100 million people rely on every . . .
san francisco , april 5 , 2016 / prnewswire / - - according to nerdwallet ' s 2016 travel credit card study , . . .
nerdwallet compare , inc . does not charge you a fee for services . the use of nerdwallet compare , inc . ’s computerized loan comparison services are not required to obtain a residential mortgage loan . the full range of loans available may not be listed on nerdwallet compare , inc . ’s lead generation system , and different terms and conditions , including lower rates , may be made available from others not listed in the system .
san francisco , sept . 26 , 2017 / prnewswire / - - nerdwallet , the go - to personal finance resource , today . . .
, consumer segments executive director for bbva compass .
the recognition from nerdwallet validates all of our efforts to better meet their diverse needs .
nerdwallet compare , inc . provides mortgage services at no cost to you . nerdwallet compare , inc . will not charge or seek fees of any kind from you . this agreement remains in effect only as long as you seek to use the services offered by nerdwallet compare , inc . ; you may discontinue this relationship at any time , without notice , at no cost or penalty to you . this agreement does not create an exclusive relationship .
san francisco , jan . 9 , 2017 / prnewswire / - - nerdwallet , the go - to personal finance resource , today an . . .
nerdwallet’s free credit score gives you access to your vantagescore 3 . 0 from transunion , which is updated weekly . it also offers free credit report information .
we talked to nerdwallet® about how credit affects many different aspects of the homebuying process - from approval to interest rates—and why your credit score should never be ignored .
in an effort to monitor your credit progress , you may have signed up with one or more free credit score services , such as the one from nerdwallet .
, head of the banking vertical at nerdwallet .
due to the complicated structures of banking products , consumers too often make financial decision in the dark . nerdwallet focuses on providing clear , unbiased information that highlights the best banking products and institutions available , helping consumers make more informed decisions that align with their banking needs .
nerdwallet partners with transunion® to provide your vantagescore® 3 . 0 , based on information in your transunion® credit report . your score and credit report information is updated weekly .
a lot of people are too scared to get their credit score—but you have to know what is hurting you . nerdwallet makes it really simple for people to learn their credit score . without going to a site like nerdwallet and then seeing what’s in your report or black mark on your credit , it can be an ugly surprise .
to take a place among such rivals , nerdwallet is building a bigger product team to expand the website’s features and broaden its information resources , which include backgrounder papers and consumer - focused articles . to augment this content , nerdwallet is hiring journalists from major media outlets including the new york times , bloomberg , cnn , abc news , and the san francisco chronicle . chen says the nerdwallet staff of roughly 200 will increase to about 300 by the end of the year , and continue to grow after that .
millions of people use nerdwallet to lower their bills , shake off debt , score the best credit cards and so much more . ready to get more from your money ?
millions of people are already using nerdwallet to stretch their dollar , earn rewards and so much more . interested in joining us ? visit urltoken to see our open positions .
when you continue to the nerdwallet© articles * in this section , and when you link to any of the websites in the articles , you will be leaving the hickam fcu website .
/ - - bbva compass was recently named a top regional bank in the midwest , southeast and pacific u . s . by nerdwallet , a comparison site for consumer banking services .
financial struggles among african - americans are real — and so are the solutions . nerdwallet explains the obstacles that black consumers often face and what they can do to overcome them and thrive .
nerdwallet compare , inc . does not make mortgage loans or commitments ; nerdwallet compare , inc . cannot guarantee acceptance into any particular loan program by any lender or specific loan terms or conditions . you may be required by the lender to pay an application fee to cover costs of an appraisal , credit report , or other items . the lender determines the amount of the fee .
from bikes to beach vacations , the nerdwallet app can now help you save for anything you want . create a savings goal and we’ll crunch the numbers to help you get there even faster .
at nerdwallet , we adhere to strict standards of editorial integrity to help you make decisions with confidence . some of the products we feature are from our partners . here’s how we make money .
nerdwallet was founded in 2009 and is a free service that helps guide consumers through important financial decisions . the site has gained the attention of the financial media , earning recommendations from cnnmoney and the
personal finance startup nerdwallet is announcing a couple of big hires today — dan yoo ( pictured ) is joining as chief operating officer , while florence thinh is the company’s new vice president of talent .
nerdwallet ' s team of more than 80 writers and editors includes seasoned journalists who have worked at major national news outlets . enjoy a wealth of information to help you make smart , informed decisions .
nerdwallet uses 128 - bit encryption to keep your information safe . we never sell your information and you ' ll only be contacted by a lender if you click on a pre - qualified offer .
cit bank ' s high yield savings was named one of the best savings accounts of 2016 for its combination of high rate , zero monthly fees or minimums , and low initial deposit by nerdwallet .
tim chen wants to make nerdwallet the go - to site for every single consumer finance question - - because he learned the hard way how it feels when you don ' t have all the answers .
the views , information , or opinions expressed in this q & a ; are solely those of nerdwallet , inc . and do not necessarily represent those of pennymac loan services , llc and its employees .
methodology nerdwallet ' s banking team selects products and institutions based on overall consumer value . to determine the 2017 winners , nerdwallet reviewed nearly 70 financial institutions : the largest u . s . banks based on factors including assets , debit card volume and internet search traffic ; the nation ' s largest credit unions with broad - based membership requirements ; and other notable and / or emerging players in the industry .
nerdwallet compare , inc . will not act as your lender or credit provider . nerdwallet compare , inc . provides your loan request to our lenders and our lenders will contact you with their conditional loan offers . while we seek to help you meet your financial needs , we do not distribute the products of all lenders or investors in the market and cannot guarantee the lowest price or best terms available in the market .
nerdwallet is a free tool to find you the best credit cards , cd rates , savings , checking accounts , scholarships , healthcare and airlines . start here to maximize your rewards or minimize your interest rates .
nerdwallet compare does not take mortgage applications , originate , service , or make credit decisions in connection with loans , nor does it issue commitments or lock - in agreements . nerdwallet compare , inc . will forward the information you provide to participating lenders . the lender will then conduct a preliminary review to determine your loan qualifications based on its guidelines and will contact you regarding its loan products and offers . nerdwallet compare , inc . does not distribute the products of all lenders in the market and does not guarantee that the loan terms or rates offered and made available by lenders are the best terms or lowest rates available in the market .
for much of last year , she focused on launching a service for employers . the subscription - based program , which nerdwallet piloted with about 10 businesses , would have helped their employees manage the health care enrollment process .
nerdwallet compare , inc . is subject to the regulations and oversight of the division of financial regulation of the department of consumer business services . consumers’ inquiries or complaints may be made by calling 866 - 814 - 9710 .
this agreement remains in effect only as long as you seek to use the services offered by nerdwallet compare , inc . you may discontinue this relationship at any time , without notice , at no cost or penalty to you .
this marks the second time bbva compass has been acknowledged by nerdwallet . the bank ' s clearconnect checking account and mobile banking app received positive reviews in the site ' s inaugural consumer banking index in the fall of 2013 .
please see nerdwallet’s terms of use for additional information . pursuant to the terms of use , by using this website and services , the disclosures and consent required under certain state laws are deemed to be provided , received , and agreed to .
perhaps most dramatically , chen radically changed the company ' s organizational structure . instead of silos , he fashioned a matrix , which contains a more horizontal - - and more complicated - - reporting structure that requires near - constant communication among nerdwallet ' s leaders . while that eased the company ' s old growing pains , it ' s created some new ones . just ask nerdwallet executive christina lamontagne :
sometimes the management team feels that we ' re in our own way .
and like any precocious adolescent , nerdwallet has weathered some fierce aches along with its success .
it ' s constant growing pains , but it ' s different growing pains ,
says jake gibson , chen ' s childhood friend and co - founder .
- bug fixes and performance improvements we would rather not interrupt your experience , so if you ' re enjoying the app please take a moment to rate it and leave a review . ^ _ ^ feedback is always welcome at support @ nerdwallet . com .
that’s why it’s so critical to understand the loan process , research your options and take the time to get prepared . in this q & a ; , we asked nerdwallet to further clarify how and why a good credit score is so important for prospective homebuyers .
nerdwallet compare , inc . does not originate mortgage loans or commitments . nerdwallet compare , inc . does not guarantee acceptance into any particular loan program by any participating lender , or promise any specific loan terms or conditions . if you apply for a loan request with our participating lenders , you may receive from such lenders a loan estimate of the credit report fee , property appraisal fee , or any other third - party fees required in connection with your loan . the documentation you receive will include the terms and conditions for obtaining a refund for said fees .
frequent united flyers will enjoy the extra rewards and perks with the [ nw : card _ name 3049 ] . because it doesn’t charge foreign transaction fees , this card is also a good choice to use abroad . » for other options : see nerdwallet ' s best airline credit cards
borrowers who are making more than the minimum payment , or paying their credit card off every month , will be more likely to get an ' approved ' recommendation , or more likely to be able to get a loan , than they would today ,
armstrong tells nerdwallet .
by summer 2013 , about four years into nerdwallet ' s existence as more than a collection of spreadsheets on chen ' s laptop , he says he became increasingly aware that his
hire smart people ; let them figure it out
philosophy meant a fifth of his small company wasn ' t playing well with others . he ' d instituted a very traditional management style : businesses organized by silos , with each silo leader responsible for his or her team ' s success . that structure soon led to some winner - take - all tactics among nerdwallet ' s different units .
the top 10 competitors in nerdwallet ' s competitive set are credit , money under 30 , totallymoney , minted , cignifi , opportunity financial , green bay banking rates , quizzle , spring banking rates and mint software . together they have raised over 122 . 4m between their estimated 489 employees .
nerdwallet compare , inc . does not take loan or mortgage applications or make credit decisions . rather , we display rates from lenders that are licensed or otherwise authorized to work in vermont . we forward your information to a lender you wish to contact so that they may contact you directly .
founded in 2009 , nerdwallet has a team of “nerds” who help consumers choose between financial products in areas like banking , credit cards , insurance , and mortgages . the company has not taken on any outside funding , and with continued profitability , it says it has no plans to do so .
that service attracted unexpectedly strong interest from
some of the largest companies in the world ,
including silicon valley tech giants , says lamontagne . yet by early december , as this article was going to press , nerdwallet had abandoned the pilot to focus more on its direct - to - consumer products .
this is a loan solicitation only . nerdwallet compare , inc . is not a lender . information received will be shared with one or more third parties in connection with your loan inquiry . the lender may not be subject to all vermont lending laws . the lender may be subject to federal lending laws .
almost 169 , 000 complaints were filed in 2015 with the consumer financial protection bureau , the government agency that enforces federal consumer financial laws . nerdwallet’s examination of the complaints found that debt collection companies gave u . s . consumers the biggest headache . the second most common complaint had to do with mortgage companies .
nerdwallet’s star ratings for mortgage lenders are awarded based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage . the six key areas we evaluated include the loan types and loan products offered , online capabilities , online mortgage rate information , customer service and the number of complaints filed with the consumer financial protection bureau as a percentage of loans issued . we also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders . to ensure consistency , our ratings are reviewed by multiple people on the nerdwallet mortgages team .
hickam federal credit union is proud to provide financial education topics that will help you make informed decisions when it comes to managing your finances and protecting your personal identity . most of the financial education articles presented in this section are provided as a courtesy by nerdwallet© and is intended as information that is objective and straightforward .
type one of those questions into google , and you ' ll likely find a nerdwallet article written by one of its 70 staff writers . or go directly to the site and find lists of nerdwallet ' s favorite travel credit cards , or recommendations of no - fee checking accounts , or rough quotes for car insurance by zip code . you can submit almost any other question about your finances , and await a response from nerdwallet ' s network of advisers . chen ' s on a quest to anticipate every single one of those questions - - and to have a clear , unbiased , logical answer for you .
it ' s just a waste ,
he says ,
when people don ' t find the right answer - - and no one is benefiting . not the person who ' s fumbling around , not really any financial institution . everyone loses , and it ' s stupid , and the internet should have fixed this a long time ago .
founded as a credit card marketing website , nerdwallet aims to become the information clearinghouse for everything financial - - a more curated
yelp for finances ,
as employees and analysts put it . the firm ' s credibility rests largely on the same exhaustive trial - and - error process that landed chen his new home . that attention to every detail , and careful consideration of every possible decision , seems rooted in chen ' s deep - seated anxiety about making the wrong choice . it also reflects a terrifying early failure - - a layoff that cost nerdwallet a fifth of its employees . now , chen ' s even more determined to never underthink anything ever again .
chen says nerdwallet saves time and simplifies choices by asking users for a few key bits of information , such as their home state and the type of card they want . for example , some visitors are looking for the lowest interest rate , while others want the best deals on rewards such as airline miles or cash back on purchases .
nerdwallet ' s approach certainly fits a post - financial crisis world facing demands , particularly from millennials , for financial transparency . the company ' s appeal rests on its yelp - like breadth of information , and its efforts to shine a light into some dark and cluttered corners of the money universe . mercator advisory group analyst alex johnson praises its
spectacular transparency ,
and consultant jo ann barefoot , a former deputy comptroller of the currency , says nerdwallet is
out in front on the whole issue of evaluating and rating and creating access to feedback on financial companies , which is a massive trend .
indeed , nerdwallet claims it can be
a source of truth
for pretty much any financial question , with
financial
defined broadly : what sort of earthquake insurance should you get if you live in california ? what ' s the best sort of online loan if you want to open a second location of your business ? which credit card stands the best chance of yielding free seats to maui ?
nerdwallet’s credit cards team selects the best cards in each category based on overall consumer value . factors in our evaluation include fees , promotional and ongoing aprs , and sign - up bonuses ; for rewards cards , we consider earning and redemption rates , redemption options and redemption difficulty . a single card is eligible to be chosen in multiple categories .
indeed , with its
newsroom
of staff writers around the country , nerdwallet is as much content creator as financial company . the company ' s journalistic endeavors are also the secret behind its fast growth - - it can flood google with a lot of professionally written news articles instead of buying seo or paid marketing . it means that when you type in what ' s the best cash - back credit card ? search results will likely produce nerdwallet citations first . and by hiring journalists to write stuff that many high - profile news companies would and indeed do publish ( usa today and time inc . ' s urltoken among them ) , nerdwallet boosted its visibility and its credibility .
most consumers want to know that they can trust somebody who is not beholden to one financial institution ,
says yoo .
they ' re worried that they don ' t know the right answers and they ' re going to make a mistake . we want them to have the confidence that they ' re making a good solid decision .
nerdwallet : i think it all starts with the fact that people don’t do the proper research on it . or they don’t have the proper understanding of what has happened , or how it affects them . maybe it’s a behavior they have that they don’t know is affecting their score . part of the solution goes back to the old way of managing credit .
- link your financial accounts to know where your money is going and see your transactions and account balances in one place . - bug fixes and other improvements . we ' d rather not interrupt your experience , so if you ' re enjoying the app please take a moment to rate it and leave a review . ^ _ ^ feedback is always welcome at support @ nerdwallet . com .
we want to hear from you and encourage a lively discussion among our users . please help us keep our site clean and safe by following our posting guidelines , and avoid disclosing personal or sensitive information such as bank account or phone numbers . any comments posted under nerdwallet ' s official account are not reviewed or endorsed by representatives of financial institutions affiliated with the reviewed products , unless explicitly stated otherwise .
funneling consumers to the cards that suit them best is also valuable to the banks , chen says , because banks only make money if the card is actually used frequently . otherwise , the bank is just paying costs to administer the account , he says . nerdwallet gets a fee when a customer applies successfully for a card , and its banking partners send feedback when the matchmaking process misses the mark , chen says .
it ' s hard not to root for what nerdwallet could do here , if it can actually do it : while you might not need yet another way to pick a credit card , you absolutely do need help figuring out which health care plan to pick , how much you might spend on top of that , and whether you ' ve been overcharged on one of those ridiculous
explanation of benefits
missives .
because of those factors , there’s no single “best” rewards card for everybody . best might be a simple , flat - rate cash - back card , a premium travel card laden with benefits , or something in between . if you’re having trouble deciding on a type of rewards card , give special consideration to cash back . a nerdwallet study has shown cash - back credit cards are better for most people than travel cards .
she had a first - hand view of that last year , as the company developed , and then dropped , a health care project despite widespread customer interest . a former health care consultant and venture capitalist , lamontagne joined the company in 2013 as its
entrepreneur in residence ,
in charge of what could be nerdwallet ' s most promising business : solving the complexities of health insurance , for both employers and their employees .
for banking products today . in its second year , the nerdwallet best - of awards program recognizes industry - leading options for consumers across a variety of financial products , including the best checking accounts , savings accounts , money market accounts and credit unions . as part of providing consumers with clear and objective recommendations for all their financial decisions , the nerds evaluated dozens of banking products and credit unions to identify the best of the year .
where nerdwallet is trying to set itself apart is in the presentation , breadth , and transparency of the bank products it shills . while the company accepts money from big banks , it still points out the less attractive features of some of their products . not all the time - - on its website , many credit cards only have
pro
analysis , with no
cons
listed - - but it ' s made more than a token stab at providing independent information along with the sales links . and johnson argues that this devotion to objectivity and transparency actually makes it more valuable to the banks that pay its bills .
nerdwallet stands out ,
he says .
it ' s very nice , very clear ; some of their competitors are busier . it helps them attract users , which is ultimately what any bank is going to care about .
less usual are the office ' s soviet - size signs , exhorting employees to
relentless self - improvement
and to prioritize
consumer company team self .
assembling for the monday - morning all - staff meetings means having to pass nerdwallet ' s
fail wall ,
spotted by cheerfully bright post - it notes marking mistakes serious and trivial , professional and personal . (
forgot anniversary .
i did not secure a profitable exit for my last group of investors .
my first year out of college , i made $ 10 , 000 .
i have overly aggressive timelines , because i am impatient .
) chen has at least four up there . it ' s a daily reminder of the many challenges facing nerdwallet ' s mission to be all things financial to all people . or as chen repeats ,
we just keep iterating .
and bankrate , while still dominant , has had its struggles , ranging from a creaky website design to an accounting scandal that cost $ 15 million to settle with the sec last year . that ' s left nerdwallet room to position itself as an honest broker for cards and other products , including checking accounts , insurance , mortgages , and online loans . the company gets paid on a percentage basis for some of those products , like the loans .
* nerdwallet© strives to keep its information accurate and up to date . this information may be different than what you see when you visit a financial institution , service provider , or specific product’s site . all financial products , shopping products and services are presented without warranty . when evaluating offers , please review the financial institution’s terms and conditions . pre - qualified offers are not binding . if you find discrepancies with your credit score or information from your credit report , please contact transunion® directly . additionally , the nerdwallet© site may be compensated through third party advertisers . however , the results of their comparison tools , blog content and editorial reviews are based on objective analysis . for more information , please see their advertising disclosure . any advice for tax planning purposes may be subject to different state and federal laws depending on an individual ' s tax situation . please consult your tax advisor for tax planning advice .
yoo was previously vice president of business operations and business analytics at linkedin . he replaces nerdwallet co - founder jake gibson , who is shifting to an advisory role at the company . apparently gibson and his wife just had twins , so he plans to spend more time with his family — he told me that it was “largely serendipity” he and his co - founder tim chen ( the company’s ceo ) connected with yoo when they were looking for advisors .
in each region , nerdwallet ranked bbva compass among its top 20 financial institutions for the site ' s spring 2014 consumer banking index . the bank , along with 300 of the nation ' s largest banks and credit unions , was evaluated on consumer products and services that consumers identified as key considerations when choosing a financial institution : free checking ; high - yield savings ; free online bill pay ; customer service ; and branch , mobile and atm access .
the interest rates quoted by lenders are subject to change unless and until an interest rate lock - in agreement has been made between you and the lender . the terms and conditions of lock - in agreements , including whether the lock - in fee may be refunded , if any , will be set by the lender . nerdwallet compare , inc . does not offer interest rate lock - in agreements and does not guarantee any interest rate quoted by a lender .
“we didn’t really need that much , ” chen says . but chen wanted maneuvering room to execute on an ambitious plan—to become the go - to site for information about 45 major financial decisions families typically make , such as selecting among mortgage loans , credit cards , college savings accounts , retirement investments , and the increasingly complex options for medical insurance . nerdwallet drew close to 30 million consumers to the site in 2014 , and aims to maintain its rapid growth rate .
counting its cash reserves , nerdwallet now has more than $ 100 million on hand as it tries to establish a dominant position in a field now crowded with competitors jostling to provide personal finance advice and services . they include big players such as bankrate ( nyse : rate ) and san francisco - based credit karma , as well as a host of specialty startups such as newport beach , ca - based acorns , which is trying to get millennials hooked on investing .
chen says nerdwallet’s website design is skewed somewhat to attract millennials . as the site appears today , it seems tailored for the consumer who has a specific question in mind , rather than a desire to start by studying up on financial products in detail . clicking on the link for credit cards , for example , leads straight to an interactive table where visitors can compare rankings for nearly 1 , 700 cards . “apply” buttons take users straight to the banks’ application forms .
with more than 1 , 200 cards on the market , “we chose to narrow it down rather than inundating” users , said mr . holland said . “we think people tend to feel more comfortable because we have limited their choices . ” still , he said the site was planning to test offering information about a wider variety of cards . he also said that nerdwallet did not appear to offer card options for consumers with bad credit , a niche for credit . com .
nerdwallet strives to keep its information accurate and up to date . this information may be different than what you see when you visit a financial institution , service provider or specific product’s site . all financial products , shopping products and services are presented without warranty . when evaluating offers , please review the financial institution’s terms and conditions . pre - qualified offers are not binding . if you find discrepancies with your credit score or information from your credit report , please contact transunion® directly .
i ' ve been browsing so many money management apps for the past couple of days now . the one from my bank is awesome , but i wanted something that helped me see the steps i ' m taking to address my debt . nerdwallet fit a lot of the user interface and usability i was looking for . yay ! the downside is that it doesn ' t recognize my retirement program , transamerica , or my bank , a credit union . given how popular and visible nerdwallet is , i was surprised at the fact that they couldn ' t find / recognize my accounts . even some of the smaller budget apps found my bank and retirement program . the only different is the interface . if it ' s not one , it ' s the other . . . so yeah i ' m kinda bummed . i ' ll keep it in the meantime . i emailed support , so i ' ll make an update if they get back to me .
it ' s early october , and chen and his girlfriend are in the latter stages of buying a single - family house in corona heights . as he started this ordinary but complex task , he wanted to really understand the range of financing available to him - - so he asked three different lenders to prequalify him for a mortgage . it ' s what chen ' s company , nerdwallet , does : review the strengths and weaknesses of financial products for three million monthly web visitors .
the latest home buyer reality report from nerdwallet reveals that 39 % of denied mortgage applicants pointed to poor credit history and low scores as the reason for being turned down , and more than 50 % cited high debt - to - income ratios . in other words , as a consumer you might be carrying too much debt . while it’s impossible to avoid some debts such as bills , credit cards , or student loans , there are steps you can take to remain in good standing .
nerdwallet compare , inc . will not collect any fees from you in connection with your loan request . all fees will be collected by and are payable to the lender . if the lender is licensed under the washington broker practices act , any fees paid by you for third - party services ( such as a credit report or appraisal ) may be held in a trust account , and any such moneys remaining after the payment to third - party service providers will be refunded to you .
most of the free credit score reports offered on various websites , including the free report from nerdwallet , are vantagescore 3 . these offer a good way to monitor your credit in general . some places , including experian , offer free fico 8 scores . that is the score that ' s most often used by lenders . however , the actual score your lender uses may be different . ficos are tweaked for different industries and have different generations , kind of like operating systems on a computer .
it ' s hard not to wonder if some of these conversations might be more comfortable with a more natural communicator at the top - - or at least someone who hasn ' t written that his goal as a ceo is to
make myself obsolete .
but chen , whose employees regularly dub him the
conscience
of his company , plans to stay for the duration . yoo claims that he could have sold nerdwallet and been
generationally wealthy
; instead , chen ' s trying to finish closing on one house , while contemplating a responsible financial future with his girlfriend . his wealth as majority owner of nerdwallet might be mostly on paper right now , but he confides , as his personal success becomes more real ,
i ' m really afraid that my kids are gonna turn out to be some really fucked - up people . i want the company to do well . but at the same time , there is absolutely no upside of becoming filthy , stinking famous or well off .
so how does nerdwallet try to help you find the right card ? it asks users to enter a few descriptors ( think whether you work and whether you pay your bills in full every month ) and then uses mathematical formulas to determine recommended card rankings . at that point , the number of cards in the results is generally much lower than 400 . the results do contain sponsored cards , though mr . chen said the site had no bias toward them . the site plans to expand into mortgages next .
while nerdwallet is benefiting from widespread distrust of the old financial establishment , chen ' s motivations are simpler and broader : he absolutely loathes not having the right answers .
there are so many things i ' ve done the stupid way ,
he says ,
just brute forcing my way through , and then i turn and look and ask , ' why in the world didn ' t someone tell me not to do that ? ' i just want to help people break out of that .
that ' s a charge chen readily cops to .
i ' m not the greatest communicator naturally ,
he says .
the strategy part [ of running the business ] is actually the super easy trivial part . it ' s the organizational communication that ' s super hard .
it ' s a strange admission for a ceo whose company mission statement includes
healthy relationships , hard conversations ,
but it ' s characteristically nerdwallet : transparent , glaringly self - critical , not always comfortable .
nerdwallet compare , inc . ( “we” or “us” ) is a delaware corporation with its principal place of business located at 875 stevenson street , 5th floor , san francisco , california 94103 . we provide information and tools related to loans and mortgages , and are currently accessible online at urltoken and urltoken / mortgages , and through our mobile app ( the “sites” ) . home loan data , rates , and fees may be provided by third - party data providers including , but not limited to , mortech® , a registered trademark of zillow® .
“we wanted the confidence to attack the product problem , ” chen says . the company now has the option to run less profitably for a while , or to make an acquisition that would round out its services , he says . under terms of the financing round , nerdwallet has a valuation estimated by some observers at $ 500 million . chen says that estimate isn’t exact , but it’s “in the ballpark . ” the series a round was led by institutional venture partners , and was joined by rre ventures , iglobe partners , and angel investors .
during his career disruption , chen was able to delve into a problem facing his sister—she asked for his help to choose a credit card . he was dismayed to find how hard it was to find reliable comparative data . he ferreted out information from 10 major banks , created a credit card spreadsheet , and saw the much - forwarded file spread out beyond his family circle . chen realized its potential as a web app , and in 2009 he founded a company , san francisco - based nerdwallet , with sweat equity and less than $ 1 , 000 .
stumbling up the learning curve is a familiar experience to entrepreneurs of all backgrounds , although many would gladly swap their problems for chen ' s : nerdwallet ' s growth is what occasionally threatens to outstrip his ability to manage it . as koh puts it ,
tim has this great belief : ' yeah , you ' re smart . you ' ll figure it out . you can do anything for a little bit of time . ' but when you have 250 employees , it ' s a lot harder to say , ' hey , smart people , go figure it out . '
still , the marketing side of the credit card business was a lucrative launch pad . banks pay steep finder ' s fees to partners that bring them the best customers , since what those consumers will spend every year far exceeds those fees . according to coo dan yoo , nerdwallet earns anywhere from zero to
hundreds of dollars
for every person who comes to its website , clicks through , applies for a credit card , and is approved . that business still accounts for the vast majority of nerdwallet ' s revenue . about 5 percent of people go from reading to buying a product ; while the clickthrough rate has held steady , overall traffic has tripled in the past three years .
hi , we ' re nerdwallet . and we love helping people get more from their money . that ' s why we make it simple to see your checking , saving , investing and credit card accounts in one place . then we analyze your spending to uncover easy ways for you to save big — without sacrificing what you love . if you have specific goals in mind — such as saving for a car , retiring early or building your credit — we ' ll keep you motivated and get you there faster . not sure if you have the best credit cards or lowest mortgage rate ? no problem . we help with bigger financial decisions , too . our expert reviews and side - by - side comparisons make spotting your best option surprisingly simple .
by december 2013 , chen finally let the ax fall , firing 11 employees - - 20 percent of his work force . it was two days after the holiday party . then he had to tell his remaining staff what had happened . he ' s still visibly uncomfortable addressing groups - -
he ' s not a ' go charge the mountain ! ' leader ,
koh says - - but this meeting was particularly terrible . hands shaking , voice shaking , more pale than gibson had ever seen him , chen got up to tell his employees that a bunch of their colleagues had been let go . his performance didn ' t get high marks :
he ' s just a bad speaker ,
says maggie leung , the ex - cnn journalist who runs nerdwallet ' s newsroom . as gibson recalls , chen tried
to give a reassuring speech about ' this is my fuckup . now it ' s our responsibility to get better at this . ' it was brutal .