Under the terms of the February sale of its 82.4 per cent interest in Bruce Power, BE was to receive an additional $36 million if Bruce 4 started by 15 June, and another $36 million if Bruce 3 began operating by 1 August. Any delay in the restart of each unit results in the payments being reduced by 10 per cent per month, falling to zero after nine months. Bruce Power is to pay the provincial government of Ontario any amounts forfeited by BE.
Delayed restart cuts BE’s income
Canada/United Kingdom: Bruce 4's delayed restart will cut the income expected by British Energy (BE). BE said that it has been advised by Bruce Power that Bruce 4 after the cut off dates specified in the original sale.