The NEI Afternoon Clip File

Here are some of the news clips we're reading at NEI this afternoon. Oil prices briefly rocketed to an all-time high of $67.10 before easing to $66.70 - which is still 95 cents higher than yesterday's record.

Ontario Power Generation is canceling plans to refurbish two nuclear generating units that have been "mothballed" since 1997, saying there is no "sound business case" for returning them to service. However, OPG says it will spend the money it saves on this project on other nuclear generating projects.

President and CEO Jim Hankinson was quick to assert the decision does not reflect a diminishing role for nuclear power in Ontario.

"The decision on Units 2 and 3 should not be seen as a lack of confidence in nuclear power," Mr. Hankinson said in a statement. "OPG continues to believe strongly that nuclear power remains an important element of the province's electricity generation mix. Nuclear fuel costs are stable and nuclear reactors do not contribute to smog or global warming."

Instead, OPG will proceed with re-furbishing Units 1 and 4 at Pickering and will study the case for extending the life of the Pickering B station as well as Darlington.

Come back Monday morning for more news from the NEI Clip File.

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