Regulations Amending the Nuclear Liability and Compensation Act and the Nuclear Liability and Compensation Regulations

Eight nuclear operators — including Bruce Power, Ontario Power Generation, and NB Power for large reactors, plus operators like Hydro-Québec, Canadian Nuclear Laboratories, McMaster University, École Polytechnique, and Cameco for lower-risk facilities — will face higher insurance premiums starting January 1, 2027. The annualized net cost across the industry is estimated at $1.5 million to $2 million per year, which operators are expected to partially pass on to electricity ratepayers (less than $0.50 per year per household in Ontario, under $1 annually in New Brunswick). Future SMR operators, starting with Ontario Power Generation's Darlington New Nuclear Project expected around 2030, will benefit from lower, risk-scaled liability limits under a formula (A × $600,000 + $60,000,000, where A is megawatts of thermal power), reducing their insurance costs compared to being treated as full-scale power reactors. Operators will need to update their insurance documentation to reflect new limits, but no significant new administrative burden is anticipated beyond what already exists.