Bruce Power drops plan to build new reactors

OTTAWA, July 23 (Reuters) - Nuclear power operator Bruce Power LP said on Thursday it plans to refurbish its A and BBruce nuclear stations on the shore of Lake Huron, rather than build new reactors to supply Ontario with 6,300 MW of electricity, because doing so is more economical.

The company said it will withdraw its application to build new reactors at Nanticoke, Ontario, due to declining electricity demand in the Central Canadian province.

The company said it will study the feasibility of refurbishing units 3 to 8 at Bruce, which would inject another 1,500 MW of baseload generation into the Ontario market, following the successful restart of units 1 and 2. The station is at Tiverton, on the eastern shore of Lake Huron.

Bruce Power is a partnership that includes uranium miner Cameco Corp (CCO.TO), pipeline and power operator TransCanada Corp (TRP.TO), and BPC Generation Infrastructure Trust. (Reporting by Susan Taylor; editing by Peter Galloway)