Murray Wood: The most charming words kids say are usually the wrong ones
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A study commissioned by a City of Estevan committee predicts job loss, population loss and a decline in economic activity after the partial closure of the Boundary Dam power station.
As Canada phases out coal-fired electricity by 2030, units 4 and 5 at the plant are set to close in the next few years.
The Estevan Economic Development board hired MDB Insights to study the effects and it determined the following impact on the city:
- 150 direct job losses (100 in mining and 50 in utilities)
- Population loss of 635 (four to five per cent decrease)
- 350 total jobs loss (four to five per cent)
- Household income reduction of about $65 million (eight per cent)
- GDP to drop by $200 million per year, reaching $1 billion by 2029 (eight per cent)
- Impact on real estate value
In a news release Tuesday, the committee says understanding these impacts is key to figuring out a plan for economic transition.
It calls on provincial and federal leaders to develop a “centre of Energy Excellence” in the region, which would include implementing carbon capture and storage technology for Unit 6 of the power station, and the Shand Power Station.
This, according to the release, would “ensure employment opportunities in coal mining and power production remain in the area.”
The group also calls for the construction of small modular nuclear reactors, along with projects in renewable energy.
Also, the release says all levels of government need to advocate for clean coal technology and for the federal government to introduce a tax credit for carbon dioxide stored.
