Ask and you will receive?
The federal government says it will provide a further $3.1 billion to Atomic Energy of Canada Ltd over the next 11 years to support Canadian Nuclear Laboratories’ “ongoing nuclear science research, environmental protection, and site remediation work.”
The $3.1 billion would be on top of $1.5 billion in “remaining amortization,” for a total of $4.6 billion.
The money was part of last week’s 2024 federal budget.
If there’s any cause for concern in the announcement, it’s that the year-by-year numbers shown in the budget document seem to fall far below AECL’s own projections of “funding requirements.”
AECL’s most recent five-year corporate plan summary shows the company seeking total funding of $1.235 billion for 2025-26, $1.251 billion for 2026-27, and $1.181 billion for 2027-28.
The budget document shows funding of just $105 million in 2025-26, $220 million in 2026-27, $241 million in 2027-28, and $257 million in 2028-29 (beyond AECL’s five-year plan), for a total of $825 million over four years.
Under the government’s main spending estimates, tabled at the end of February, AECL has already been approved for funding of $1.591 billion for the current fiscal year 2024-25, which began April 1.
Despite the apparent difference in numbers, AECL director of communications and government reporting Jeremy Latta said essentially, not to worry, it’s just a difference in accounting.
“Based on the budget announcement yesterday, AECL anticipates being able to deliver on its plans as set out in its corporate plan summary,” Latta said in an email to the NRT…
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