The Economic Impact ofa Westinghouse
AP1000 Reactor Projectin Canada

PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada
Photo © Georgia Power Company. All rights reserved.

Notice to Reader

This report has been prepared by PricewaterhouseCoopers LLP (PwC) for the use of Westinghouse and its owners,
Canadian-based companies – Brookfield and Cameco, with the desire to bring state of the art nuclear technology to
Canada.
This report provides an assessment of the economic and broader benefits of Westinghouse’s potential investments in Canada
in association with the deployment of AP1000® technology.
The analysis and observations presented in this document are based on information provided by Westinghouse, as well as
primary and secondary research conducted by PwC.
All dollar values are in 2023 Canadian dollars,1 unless otherwise specified.
Limitations on use of this report are found in Appendix A.
AP1000®, AP300TM Small Modular Reactor (SMR) and eVinciTM are trademarks of Westinghouse Electric Company LLC, itsaffiliates and/or its subsidiaries in the United States of America and may be registered in other countries throughout the world.
All rights reserved. Unauthorized use is strictly prohibited. Other names may be trademarks of their respective owners.
Several images used in the report have been provided by Westinghouse Electric Company LLC and its partners. These areused with permission from Westinghouse Electric Company LLC.
1

Exchange rate used was Bank of Canada’s average annual USD/CAD rate for January-December 2023, equaling to 1.3497.

PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

2Contents

Page
1

Results of Assessment

42

Introduction and Background10

3

Economic Footprint of Westinghouse Activity

14

4

Broader Impacts of Westinghouse Activity

18

AppendicesA

Limitations

28

B

Input-output methodology

29

PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

3

1
Results ofAssessment

This study assesses the economic footprint and broader impacts ofWestinghouse’s AP1000 Project in Canada
Background
In order to meet its net-zero requirements, Canada would benefit fromaugmenting its electricity grid by developing additional carbon-freeenergy sources, helping Canada to meet its demand growth andsustainability goals. In that context, Westinghouse is seeking to installfour AP1000 pressurized water reactor units (PWR) in Ontario (“theAP1000 Project”).
• One AP1000 unit can power over 750,000 homes annually, and afour unit facility can power at least three million homes.
• The AP1000 Project would contribute to the economic footprint of
Canada’s nuclear sector through capital investments and theongoing operation of a new nuclear power project.
• It will also help to support the strong nuclear industry supply chain
across Canada and set the stage to support future investments in
Westinghouse’s advanced technologies such as the AP300 Small
Modular Reactor and eVinci microreactor.
• The AP1000 Project, being a carbon-free source of energy, aligns
with Canada's 2030 emission reduction plan.
Sources: Westinghouse, Environment and Climate Change Canada
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

Scope of analysis
Core areas assessed by PwC

Economic
footprint

Broader
impacts

The jobs, GDP, labour income, and tax revenue
associated with Westinghouse's AP1000 Project
arising from:• Capital expenditures• Ongoing operations
Broader impacts of developing Westinghouse's
AP1000 Project, focusing on its impact on skills,
training and development, support for local industry
clusters, contribution to Canada's climate change
efforts, and its adherence to high safety standards inpower plant operations.

5

The Westinghouse AP1000 Project could support $28.7 billion in GDP
and over 125,000 person-years of employment across Canada during
the installation of approximately 4,800 MW of added nuclear capacity
Total economic footprint of AP1000 Project manufacturing, engineering and installation in Canada, cumulative impact 2025-2040 (undiscounted)

Westinghouse’s AP1000
Project is estimated to support
an economic footprint of $28.7
billion over the 16 year
manufacturing, engineeringand installation phase.
The 126,560 person-years of
employment over this period,on average equates to anannual workforce of 7,910 Full
Time Equivalent (FTE) roles.

GDP Impact ($M)

Jobs (FTE),
person-years

Labour Income ($M)

Tax Revenue ($M)

$28,710

126,560$15,690$7,100GDP ($M)

Employment

Labour Income ($M)

Tax Revenue ($M)

$6,160$2,96030,550$8,120$2,30051,300$14,430$5,32044,720$3,180$7,420$1,630

Economic Footprint Legend

Direct Impact

Indirect Impact

Induced Impact

Source: PwC analysis
Figures may not sum due to rounding
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

6Ongoing operations are estimated to provide almost $8.1 billion in GDP
per annum and 12,000 FTE jobs in Canada
Total economic footprint of the AP1000 Project operations in Canada (average annual impact, undiscounted)
On an annual average basis,
operating the AP1000 Projectis estimated to contributealmost $8.1 billion to GDP in
Canada and approximately
12,000 jobs.
During a minimum operating
period of 60 years of theAP1000 Project, the cumulative
undiscounted economic
footprint is estimated to be$485.3 billion in GDP, 712k
person-years of employment,$103.3 billion in labour income
and $120.6 billion in total taxes
in Canada, when taking into
account direct, indirect, andinduced effects. Extended
operation would increase these
impacts.

GDP Impact ($M)

Jobs (FTE)

Labour Income ($M)

Tax Revenue ($M)

$8,09011,870$1,720$2,010GDP (US$M)

Employment

Labour Income ($M)

Tax Revenue ($M)

$650
2,720

1,600

$310

$290

$1,890$240$410$5,560

Economic Footprint Legend$1,3607,550

Direct Impact$1,130Indirect Impact

Induced Impact

Source: PwC analysis
Figures may not sum due to rounding
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

7The use of the Canadian supply chain to procure inputs for future
AP1000 developments globally could support a further $880 million of
GDP impact in Canada for each unit installed
Spending on Canadian suppliers to build AP1000 units
globally• Investing in the AP1000 Project in Ontario will build up the
Canadian supply chain for this reactor technology. This willbring future value to Canada as the supply chain will becalled upon to support AP1000 developments around theworld.
• Currently, there are five operating AP1000 reactors, ten underprocurement, construction and commissioning and many
more are likely to be developed around the world in the
future.
• Using the Canadian supply chain to support installations
around the world will open up further economic opportunity
for Canada. We estimate that each unit installed globally canprovide $880 million in Canadian GDP due to the use of this
supply chain.

Potential economic footprint of future AP1000 Project
developments globally on the Canadian economy$880 million total GDP

3,900 person-years of employment$480 million total labour income$220 million total taxes

Source: PwC analysis
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

8

Broader benefits of Westinghouse’s AP1000 Project include skill andcluster development, as well as climate, safety and community
engagement
Skills development• Westinghouse’s skills development activity
supports efficient and safe operations andprovides opportunities for employees in
Canada.
• The AP1000 Project will provide cutting-edge
nuclear skills with significant investment
planned to enable training of a Canadian
workforce.
• Westinghouse is building partnerships withlocal educational institutions such asawards to Fleming College and supporting
female STEM students at Ontario Tech.
• High-skilled roles created with plans to aid in
the training of over 1,600 local employees towork at the AP1000 Project once operational.
Many of the roles created will be highly skilled,
including engineers, chemists and nuclear
technicians.

PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

Nuclear cluster development

Climate, safety and community
engagement• Canada’s extensive nuclear cluster andsupply chain would be strengthened by new
investment in the AP1000 Project.

• Westinghouse is committed to safety with halfof the world’s nuclear power stations alreadysafely using its technology.

• Canada's nuclear industry already has asignificant footprint in the economy, supporting
76,000 jobs annually.

• Westinghouse has committed to net-zero GHG
emissions by 2050 and has reduced its Scope
1 emissions by 20% and Scope 2 emissions by
31% from its baseline year of 2019.

• Westinghouse is an important part of thiscluster, with Westinghouse Canada
headquartered in Peterborough, Ontario andover 250 employees in Canada.
• The AP1000 Project would further bolster thiscluster with Westinghouse planning to makelocal procurement a key component of its
investment plans, with the majority of total
capital expenditure expected to be spent in
Canada.

• The planned AP1000 Project in Canada would
provide carbon-free energy to power over three
million homes.
• The AP1000 Project can cut 28 million metrictonnes of CO2 emissions relative to using fossil
fuels, equivalent to removing six million carsfrom the road.
• Westinghouse is a proud member of theCanadian Council for Aboriginal Business’
Progressive Aboriginal Relations (PAR)program.

9

2
Introduction andBackgroundThis report assesses the potential economic and broader impacts ofWestinghouse’s AP1000 Project in Canada
BackgroundWestinghouse is seeking to manufacture and install four AP1000 PWR units in Canada and have commissioned
PricewaterhouseCoopers LLP (PwC) to perform an economic footprint analysis and broader impact assessment.
Westinghouse is one of the world’s leading nuclear energy companies, for example:• Westinghouse has a longstanding legacy, having constructed the first ever commercial PWR in
Shippingport, Pennsylvania, in 1957.

• The AP1000 is the only Generation III+ reactor technology designed, built, and successfully

Impacts assessed by PwCCore areas assessed by PwC

Economic
footprint

deployed. Currently, five units are in commercial operation and an additional ten units are in procurement,
construction and commissioning.

• Westinghouse technology helps power 430 nuclear reactors globally, around 50% of operating nuclear
plants are based on Westinghouse technology.

• Westinghouse employs over 9,500 people across 21 countries, with 6,800 employees located in theAmericas region.

• Westinghouse’s current Canadian operations are headquartered in Peterborough, Ontario, employing
more than 250 experts. The recent acquisition of Westinghouse by Brookfield Renewable Partners andCameco has ensured that the company continues to be 100% Canadian-owned.

• Westinghouse has been expanding its engineering base of operations in Canada in support of new
nuclear projects (AP1000, AP300 and eVinci), including the opening in 2024 of a new engineering hub in
Kitchener, Ontario. Canada is now the 3rd largest engineering center for the Westinghouse AP1000
reactor with expectations of employing 200-400 engineers at this hub to support domestic andinternational units.
Source: Westinghouse
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

Broader
impacts

The jobs, GDP, labour income,and tax revenue associated with
Westinghouse's AP1000 Project
arising from:• Capital expenditures• Ongoing operations
Broader impacts of developing
Westinghouse's AP1000 Project,focusing on its impact on:• Skills training and development• Support for local industry
clusters• Contribution to Canada's
climate change efforts• Adherence to high safety
standards in power plant
operations
11

The AP1000 is Westinghouse’s innovative Pressurized Water
Reactor model
Based on nearly 70 years of research and development, the AP1000 reactor builds and improves upon previously establishedtechnology used in Westinghouse-designed plants since the 1950s.The AP1000 technology offers three distinct advantages whencompared to previous generations of nuclear reactors:
1 Economic competitiveness• The AP1000 reactor operates a global fleet and has achieved Nth-of-a-kind status.
• The technology has a strong licensing pedigree in the U.S., U.K., Europe, and China.
• The technology’s primary goal is simplification, with fewer components and reduced building volume required, thereby saving capitaland operational costs.
• Its modular design accelerates construction and reduces risks by enabling more factory-based work, which offers superior quality
and cost control, with lower labour in on-site construction and development.
2 Enhanced Safety• The AP1000 employs passive safety systems, which can operate even in the absence of operator actions or external power.
• The reactor is designed to exceed the U.S. Nuclear Regulatory Commission's safety and risk criteria by a significant margin.
• Simplified safety systems reduce surveillance needs and reduce the likelihood of forced shutdowns.
3 More efficient Operations and Maintenance• Superior operating performance – availability and capacity factors are in excess of 92%.
• Dramatically reduced start-up test programs from ten months to five months or less.
• Industry performance records set for first cycle refuelling outages (28 days) second cycle (19 days).
• Plants used for both baseload and load-follow modes with ramp rates of one MW/second.

*Safety grade.
Compared with previous generation of nuclear power
plants producing the same energy output• Lower operating and maintenance requirements lead to smaller maintenance staff needs, saving costs.

Compared to generating electricity from the combustion of fossil fuels, a single AP1000 reactor unit is capable of reducing CO 2 emissions by sevenmillion metric tons annually. The four unit AP1000 Project would result in a reduction of 28 million metric tons of CO 2 emissions, comparable to theenvironmental impact of removing seven million passenger vehicles from the road.
Source: Westinghouse
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

12Our approach to assessing the impact of Westinghouse’s AP1000
Project involved a five step process1

Understanding and assessment of
the current situation in Canada

Conducted background research on the nuclear power landscape in Ontario,
Canada.

Collecting data from
Westinghouse

Collected quantitative and qualitative data on expenditures related to the proposed
investment and broader impacts of the AP1000 Project.

Collecting data fromsecondary sources

Collected industry benchmarks and other relevant secondary data.

Economic footprint analysis

Used PwC’s Input-output model to estimate the impact of spending associated with
the AP1000 Project on jobs, GDP, labour income, and tax revenue.1

Assessment of broader
economic impacts

Assessed and contextualized the broader impacts of Westinghouse’s AP1000
Project in Canada.

The model employs the Supply Use Tables from Statistics Canada for its calculations.

PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

133
Economic Footprint ofWestinghouse Activity

Our approach assesses the direct, indirect and induced economic
footprint of manufacturing, engineering and installation and ongoing
operations of the proposed AP1000 Project
The economic footprint of Westinghouse’s AP1000 Project is assessed in two stages:
1. Manufacturing, engineering and installation

1

Expected to provide tens of billions of dollars ofinvestment in Canada
Manufacturing, engineering and installation period
expected to span 16 years

2. Ongoing AP1000 Project operations
Over 1,600 direct jobs sustained over the period

2

Carbon-free energy provided for over three million homes
Operational lifespan of the plant: minimum of 60 years

The planned spending on the AP1000 Project would generate economic impact through the following channels:• Direct impacts result from companies’ spending on suppliers and employees.
• Indirect impacts arise from the activities of the firms providing inputs to a company’s suppliers (in other words, the suppliers of its suppliers).
• Induced impacts are the result of consumer spending by employees of the businesses stimulated by direct and indirect expenditures.
• The total economic impact is equal to the sum of the direct, indirect, and induced economic impacts.
These calculations were developed through PwC’s economic modelling. These values represent gross calculations of the economic footprint of the AP1000 Project.

PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

15

The Westinghouse AP1000 Project could create a GDP impact of over
$28.7 billion in Canada through manufacturing, engineering andinstallation
Cumulative economic footprint of manufacturing, engineering and installation phase in Canada, 2025-2040, undiscounted, $ millions
DirectIndirectInduced

Total

GDP

$14,430$8,120$6,160$28,710

Employment (FTE), person-years

51,30044,72030,550126,560

Labour income$7,420$5,320$2,960$15,690

Federal taxes$3,480

Provincial taxes$2,780

Municipal taxes$850

Total taxes$3,180$1,630$2,300$7,100

The table presents cumulative
economic footprint calculations overthe 16 year manufacturing,
engineering and installation period.
Cumulatively, we estimate that theAP1000 Project would contribute$28.7 billion to GDP, 126.6k
person-years of employment, $15.7
billion in labour income and $7.1
billion in total taxes in Canada,
when taking into account direct,
indirect, and induced effects.
Annually, on average, this equates
to $1,790 million in GDP, 7,910
jobs, $980 million in labour income
and $440 million in total taxes overthe 16 year manufacturing andinstallation period.

Source: PwC analysis
Due to rounding, total impact value may not equal the sum of direct, indirect and induced footprints
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

16… and an $8.1 billion annual GDP impact in Canada once operational

Average annual economic footprint of AP1000 Project operations in Canada, undiscounted, $ millions
DirectIndirectInduced

Total

GDP

$5,560$1,890$650$8,090

Employment (FTE)

1,600

7,550

2,720

11,870Labour income$290$1,130$310$1,720Federal taxes$890

Provincial taxes$720

Municipal taxes$400

Total taxes$1,360Source: PwC analysis
Due to rounding, total impact value may not equal the sum of direct, indirect and induced footprints
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

$410

$240

$2,010

The table depicts the averageannual impact of the AP1000
Project during its operational
phase.
Annually, on average, theeconomic footprint is estimated tobe $8.1 billion in GDP, 11,900 jobs,$1.7 billion in labour income and$2.0 billion in total taxes in
Canada, when taking into accountdirect, indirect, and induced
effects.
Cumulatively, during 60 years ofongoing operations, the economic
footprint is estimated to be $490
billion in GDP, 710k person-yearsof employment, $100 billion inlabour income and $120 billion in
total taxes in Canada.
17

4
Broader Impacts ofWestinghouse Activity

Westinghouse’s AP1000 Project will have broader impacts in Ontario
and across Canada
The impacts of the AP1000 technology deployment go beyond the economic footprintpresented earlier in this report. The following slides highlight how deployment of this program
could contribute to a broader range of impacts including:
1. Skill development: the nuclear industry and its supply chain create high-skilled, well-paidjobs in Canada. A critical part of Westinghouse’s planned investment is in enabling
Canadian training and human capital to make sure Canada has skilled employees who cansafely and efficiently operate the reactor.
2. Nuclear cluster development: there is already an extensive pan-Canadian nuclear supply
chain including uranium mining and refining in the Prairies, manufacturing of specialised
equipment, research, power generation and waste management across a number ofprovinces. As the first grid-scale nuclear build in Canada for 40 years, the Westinghouse
AP1000 Project would boost Canada’s nuclear cluster and allow Canadian suppliers tobenefit from the large number of AP1000 units that are expected to be deployed around theworld.
3. Climate, safety and community engagement: nuclear investments can make a major
contribution to the communities where they are located and to Canada’s net-zerocommitments by providing additional capacity of carbon-free electricity. Westinghouse also
brings a strong track record of safety and adheres to high technical and regulatory
standards.

Sources: Westinghouse and Nuclear Innovation InstitutePwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

19

Westinghouse’s skills development activity supports efficient and safe
operations and provides opportunities for Canadians
Cutting-edge nuclear training

A core part of the strategy whendeveloping the AP1000 Project isinvesting in local human capital toensure the plant has the skilled
personnel needed to operate it.
As shown in the preceding analysis,
the AP1000 Project in Ontario is
expected to create 1,600 direct jobs
to operate the plants.
As the diagram shows,Westinghouse plans to take aproactive stance in helping todevelop the local workforce needed
to operate the plant throughtraining support and partnerships
with local higher education facilities.

• Westinghouse relies on a specialized and highly trained workforce for safe operations
and continued innovation.

• Significant investment in workforce training is planned for the AP1000 Project.
Partnerships with educational institutions• Westinghouse supports initiatives aimed at assisting post-secondary students in their
desired career paths.

Skill development
initiatives
associated with
AP1000 Project• This includes providing awards to first-year students in Welding and Fabrication at
Fleming College and supporting female STEM students at Ontario Tech, among otherinitiatives.
Technical training• Westinghouse supports the owner in the training of their staff to be able to properly
operate and maintain the plant across all levels of the organization, resulting in
upskilled talent, enhanced development capabilities, and improved safety.

• Around 1,600 local employees will be trained to work at the AP1000 Project once
operational.
Leadership training• Westinghouse offers leadership training that includes a self-assessment tool,
team-building exercises, skill enhancement for managers, and coaching for personal
and team development.

• All employees must complete required Nuclear Safety Culture training, with additional
training modules for leaders.
Source: Westinghouse
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

20

Canada has an extensive nuclear cluster and supply chain• Canada’s nuclear cluster already extends beyond the

ELLESMERE
ISLAND

Uranium Mining & Milling
Uranium Processing – Refining, Conversion, and Fuel
Fabrication
Nuclear Power Generation and Nuclear Science & Technology
Waste Management & Long-term Management
Shut down or Decommissioned Sites
Inactive or Decommissioned Uranium Mines and Tailing Sites
VICTORIAISLAND• Canada also possesses research excellence. For 75

Iqaluit

Port Radium

YUKON
Whitehorse

NORTHWESTTERRITORYNUNAVUT

Rayrock
Yellowknife

NEWFOUNDLAND
AND LABRADOR

Beaverlodge
Gunnar, Lorado

Cigar Lake
Key Lake

BRITISHCOLUMBIAALBERTA
Edmonton

General Fusion
Victoria

TRIUMFLABRADOR

McClean Lake
Rabbit Lake
McArthur River*
Mine is in care and maintenance (standby)

Cluff Lake

St. John's
NEWFOUNDLAND

University of
Saskatchewan
Saskatchewan
Research Council

PRINCEEDWARDISLANDQUÉBECONTARIO
QuébecReginaGentiilly-1 & 2Winnipeg

Whiteshell
Laboratories

Fredericton

NEW
BRUNSWICK

Rophton NPDOTTAWA

Elliot Lake Area
Lake
Ontario

Agnew Lake
TorontoWestern Waste
Management Facility
Dougles Point

Chalk River Laboratories
DeloroPort Hope, Port Granby
Darington
Pickeringyears, Canadian Nuclear Laboratories (CNL) has been at
the forefront of innovation in nuclear medicine,radiopharmaceuticals, and low dose radiation research.
CNL’s largest facility is at Chalk River Laboratories, on
the border of Ontario and Quebec, and it has
approximately 50 other sites across Canada.

• The current cluster is estimated to support 76,000 jobs

MANITOBASASKATCHEWAN

operation of reactors. As shown on the map, Canada has
an extensive uranium industry. It is the second-largest
uranium producer in the world (as of 2019), with 13% of
the world’s uranium mined and milled in northern
Saskatchewan. As well as supplying domestic reactors,
this industry is a major export success, with 75% ofCanada's uranium exported, with the US being the largest
customer.

NOVASCOTIA
Halifax

Point Lepreau

across Canada.
• Nuclear energy significantly benefits local communities.
For instance, in the tri-county region encompassing
Bruce, Grey, and Huron counties, the number of suppliers
serving the nuclear energy sector rose from 13 in 2016 to
60 in 2022, spreading across 15 communities within theregion.

Sources: Westinghouse, NRCan, World Nuclear Association, Canadian Nuclear
Association, MZConsulting Inc
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

21

The AP1000 Project could open up new opportunities for Canadian
suppliers
Westinghouse plans to make local procurement a key component of its
investment strategy, with the majority of total capital spending on the
AP1000 Project expected to be spent in Canada.
Key local suppliers will likely operate in:

Illustration of nuclear value chain

Nuclear research

Plant
decommissioning
and wastemanagement

Raw materials
and component
inputsNuclear plantdesign andsupplyNuclearoperations

Uranium mining, refining,
conversion and enrichment

Plant development, manufacturing
and construction

Electricity generation

Engineering services andconstruction

Component manufacturing (e.g.
reactor core, fuel assemblies,
control rods, coolant channels,
turbines, transformers

Engineering, procurement andother services

Services

Radioactive waste management• Construction, engineering and management companies.
Chalk River Nuclear laboratories• Component manufacturing including large structural fabrications,
nuclear steam supply system (NSSS) equipment, mechanical modules,
Laboratories and hospitals
cranes, pumps, valves and electrical equipment.

The manufacturing and installation of the AP1000 Project in Ontario willbuild a strong network of Canadian suppliers for this technology, opening
a range of new opportunities for Canada, for example:
Using Canadian suppliers to support AP1000 installations around theworld.
● Deploying other advanced reactors such as the AP300 SMR and theeVinci microreactor. The AP300 SMR in particular, has many identicalcomponents to the AP1000 technology and shares much of its supply
chain.
●

AP1000 technology would support Ontario’s position as a world leader inmedical isotope research and production.

• Westinghouse already has a significant footprint in Canada, and its staff here would
play a major role in deploying the AP1000 Project.
• Westinghouse Canada is an incorporated Canadian company headquartered inPeterborough, Ontario.
• Westinghouse has offices across Ontario (Peterborough, Toronto, Stratford, Port Elgin,
Deep River, and Ottawa).
• There are over 250 nuclear employees in Canada supporting existing operations anddeveloping new nuclear reactor technology.
• Westinghouse has been expanding its engineering basis of operations in Canada insupport of new plant projects (AP1000 reactors, AP300 SMR and eVinci microreactor),
including the opening in 2024 of a new engineering hub in Kitchener, Ontario. Canada
is now the third largest engineering centre for the Westinghouse AP1000 technology,
and they expect to employ 200-400 engineers at this hub to support domestic andinternational units.

Sources: Westinghouse, NRCan and World Nuclear Association
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

22

The use of the Canadian supply chain to procure inputs for AP1000
developments globally could support an $880 million GDP impact inCanada for each AP1000 unit built around the world
Cumulative economic footprint in Canada of global AP1000 developments, undiscounted, $ million
DirectIndirectInduced

Total

GDP

$440

$250

$190

$880

Employment (FTE), person-years

1,570

1,370

940

3,900

Labour income

$230

$160

$90

$480

Total taxes

$100

$50

$70

$220

An AP1000 Project in Ontario will leverageand grow the existing supply chain anddevelop new suppliers.
Westinghouse has another ten AP1000
units under procurement, construction andcommissioning, and many more are likely
to be commissioned in the future aroundthe world.
We have estimated that, through the useof these Canadian suppliers, each unit
developed globally in the future could lead
to $880 million of GDP impacts in Canada.

Source: PwC analysis
Due to rounding, total impact value may not equal the sum of direct, indirect and induced footprints.
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

23

Westinghouse’s technology is safely deployed in half of the world’s
nuclear power stations• Westinghouse brings extensive experience to delivering nuclear
energy safely. It is a leading global supplier and pioneer of thecommercial nuclear power industry, and as such is the original
equipment manufacturer or service provider for approximately
half of the world’s nuclear plants.
• In terms of safety and security, Westinghouse voluntarily
implements industry best practices and standards
established by the Institute for Nuclear Power Operations (INPO)
and the World Association of Nuclear Operators (WANO).
• Westinghouse's global site activities are licensed and supervisedby nuclear safety regulators, ensuring adherence to strict
regulations, advanced training, and comprehensive
programs.
• Westinghouse already holds full Canadian QA certifications:
CSA N285, N299 and ISO 9001.

Source: Westinghouse
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

24

Nuclear energy can help to meet net-zero targets• Nuclear energy is likely to play an important role in the global road to
net-zero. For example, the International Energy Agency estimates that
nuclear power capacity will need to double between 2020 and 2050 toachieve global net-zero GHG emissions by 2050.

• Nuclear electricity in Canada displaces about 50 million tonnes of GHG
emissions annually, equivalent to removing 10.7 million passenger vehicles
off the road.

• Electricity from exported Canadian uranium helps to offset more than 300
million tonnes of GHG emissions worldwide.

• In 2022, Westinghouse committed to achieving net-zero GHG emissions by
2050, in alignment with the Paris Agreement.

• Westinghouse is committed to enhancing its environmental stewardshipthrough a multifaceted approach. This includes the implementation ofcomprehensive energy reduction strategies, the improvement of waste
management practices, the advancement of water conservation policies,
and the establishment of measures to protect ecosystems.

• Westinghouse has reduced its Scope 1 emissions by 20% and Scope 2
emissions by 31% from its baseline year of 2019.
Sanmen Site, China
Photo © Sanmen Nuclear Power Company Ltd. All rights reserved.

Sources: Westinghouse, International Energy Agency, World Nuclear Association
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

25

Westinghouse recognizes the rights of Indigenous Peoples to maintainand develop their cultures, spiritual identities and societies while
enjoying sustainable economic prosperity
Westinghouse respectfully acknowledges that its offices are located on land within the traditional and treaty territory of many
Indigenous communities.

Progressive AboriginalRelations Program

As part of its commitment, Westinghouse recognizes that Indigenous people play a significant role along the nuclear value chain,with the uranium mining industry being the largest private employer of Indigenous people in Saskatchewan.

Westinghouse Canada is on ajourney of reconciliation and is
a committed member of theCanadian Council for
Aboriginal Business’ (CCAB)
Progressive AboriginalRelations (PAR) program.

Westinghouse’s reconciliation journey is supported by its Indigenous Relations Committee, Indigenous Relations policy, andDiversity, Equity and Inclusion initiatives.
Westinghouse’s Indigenous Relations initiatives:
●
●
●
●
●

Focusing on recruitment diversity with annual workplace composition objectives.
Organizing quarterly internal cultural awareness activities, training, guest speakers, and initiatives to promote knowledge
building across the company.
Building relationships with Indigenous communities locally in Ontario and in key business growth geographies, including
Saskatchewan and Nunavut.
Surveying the Canadian supply chain for Indigenous business partnerships with nuclear and non-nuclear vendors.
Supporting local Indigenous initiatives through sponsorship and employee in-kind engagement.

The PAR program promotes
four drivers for company-led
Indigenous reconciliation andadvancement including
Leadership Actions,
Employment, Business
Development and Community
Relations.

Sources: Westinghouse and Natural Resources Canada
PwC | The Economic Impact of a Westinghouse AP1000 Reactor Project in Canada

26

Appendices27

Appendix A: Limitations
Receipt of new data or facts: PwC reserves the right at its discretion to withdraw or revise this report should we receive additional data or be made aware of facts
existing at the date of the report that were not known to us when we prepared this report. The findings are as of February 2024 and PwC is under no obligation toadvise any person of any change or matter brought to its attention after such a date that would affect the findings.
Reliance on data from Westinghouse Electric Company: PwC’s analysis relies on information provided by Westinghouse Electric Company such as that relating to
the construction and operation of the AP1000 Project. PwC has not audited or otherwise verified the information supplied to us.
Input-output analysis: Input-output analysis (a model used to estimate GDP and employment impact) does not address whether the inputs have been used in themost productive manner or whether the use of these inputs in this industry promotes economic growth by more than their use in another industry or economic activity.
Nor does input-output analysis evaluate whether these inputs might be employed elsewhere in the economy if they were not employed in this industry at the time of
the analysis. Input-output analysis estimates the direct, indirect and induced economic impacts that can reasonably be expected to affect the economy based on
historical relationships within the economy.
Use limitations: This report has been prepared solely for the use and benefit of, and pursuant to a client relationship exclusively with Westinghouse ElectricCompany. We understand that Westinghouse Electric Company may share this report with third parties. Westinghouse Electric Company can release this report tothird parties only in its entirety and any commentary or interpretation in relation to this report that Westinghouse Electric Company intends to release to the public
either requires PwC’s written consent or has to be clearly identified as Westinghouse Electric Company’s own interpretation of the report or Westinghouse ElectricCompany is required to provide a link to the full report. PwC accepts no duty of care, obligation or liability, if any, suffered by Westinghouse Electric Company or any
third party as a result of an interpretation made by Westinghouse Electric Company of this report. Further, no other person or entity shall place any reliance upon theaccuracy or completeness of the statements made herein. In no event shall PwC have any liability for damages, costs or losses suffered by reason of any reliance
upon the contents of this report by any person other than Westinghouse Electric Company.
This report and related analysis must be considered as a whole: Selecting only portions of the analysis or the factors considered by us, without considering all
factors and analysis together, could create a misleading view of the findings. The preparation of this analysis is a complex process and is not necessarily susceptible
to partial analysis or summary description. Any attempt to do so could lead to undue emphasis on any particular factor or analysis. We note that significant deviations
from the above listed major assumptions may result in a significant change to this analysis.

28Appendix B: Input-output methodology
Input-output modelling: overview
The fundamental philosophy behind economic impact analysis is that spending on goods and services has attendant impacts throughout the economy. For instance,
construction expenditures will generate demand for the inputs to this process (such as tools and labour) that in turn generates additional demand that extends beyond
the initial spending. This analysis permits the estimation of this cascading effect by using an input-output model of the Canadian economy.
Inputs used for the economic footprint assessment are provided by the Westinghouse Electric Company’s estimates of capital expenditures, operating expenditures andrevenues associated with the manufacturing, engineering and installation and operations of the AP1000 Project in Ontario.
The input-output model used for the purpose of this report estimates the relationship between economic activity for a given good or service and the resulting impacts
throughout the economy (including demand for other goods and services and tax revenues). For the purpose of this report, economic impacts were estimated for thefollowing measures of economic activity:••••

GDP – the value added to the economy, or the output valued at basic prices less intermediate consumption valued at purchasers’ prices.
Employment – the number of FTE jobs created or supported.
Labour income – the amount earned by the employment expected to be generated.
Government revenue – the amount of revenue collected by the provincial, local and federal government. It includes personal and corporate income taxes
collected on a provincial and territorial level, as well as other direct and indirect taxes.

The economic footprint was estimated at the direct, indirect and induced levels:•••

Direct impacts are those that result directly from the company’s expenditures on labour and capital as well as gross operating profits.
Indirect impacts arise from the activities of the firms providing inputs to the company’s suppliers (in other words, the suppliers of its suppliers).
Induced impacts are the result of consumer spending by employees of the businesses stimulated by direct and indirect expenditures.

29

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