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Trust funds

The Nuclear Fuel Waste Act (NFWA) requires Canada's nuclear electricity producers to establish trust funds to finance the long-term management of used nuclear fuel.

    Overview

    These trust funds will accumulate and may only be used for the purpose of implementing the management approach selected by the Government of Canada, once a construction or operating licence has been issued under the Nuclear Safety and Control Act.

    These legislative obligations are the responsibilities of the individual companies named and not the NWMO. Each year, the NWMO makes public the audited financial statements of the trust funds when they are provided by the financial institutions.

    The fiscal year-end for Ontario Power Generation, Hydro-Québec and Atomic Energy of Canada Limited is December 31. The fiscal year-end for NB Power Nuclear Corporation is March 31.

    At the end of 2023, trust fund balances were at $5.3 billion. See our annual report for the latest numbers, projections and financial reports.


    Trust Funds: Audited Financial Statements – 2024


    Trust Funds: Audited Financial Statements – 2023


    Trust Funds: Audited Financial Statements – 2022


    Trust Funds: Audited Financial Statements – 2021

    Trust Funds: Audited Financial Statements – 2020

    Trust Funds: Audited Financial Statements – 2019

    Trust Funds: Audited Financial Statements – 2018

    Trust Funds: Audited Financial Statements – 2017

    Trust Funds: Audited Financial Statements – 2016

    Trust Funds: Audited Financial Statements – 2015

    Trust Funds: Audited Financial Statements – 2014

    Trust Funds: Audited Financial Statements – 2013

    Trust Funds: Audited Financial Statements – 2012

    Trust Funds: Audited Financial Statements – 2011

    Trust Funds: Audited Financial Statements – 2010

    Trust Funds: Audited Financial Statements – 2009

    Trust Funds: Audited Financial Statements – 2008

    Trust Funds: Audited Financial Statements – 2007

    Trust Funds: Audited Financial Statements – 2006

    Trust Funds: Audited Financial Statements – 2005

    For 2005, consistent with the legislation, the four corporations made further contributions to their respective trust funds in the following amounts:
     
    Ontario Power Generation: $100,000,000
     
    Hydro-Québec: $4,000,000
     
    NB Power: $4,000,000
     
    Atomic Energy of Canada Limited: $2,000,000

    Trust fund statements:

    Trust Funds: Audited Financial Statements – 2004

    For 2004, consistent with the legislation, the four corporations made further contributions to their respective trust funds in the following amounts:

    Ontario Power Generation: $100,000,000

    Hydro-Québec: $4,000,000

    NB Power: $4,000,000

    Atomic Energy of Canada Limited: $2,000,000

    Trust fund statements:

    Trust Funds: Audited Financial Statements – 2003

    For 2003, consistent with the legislation, the four corporations made further contributions to their respective trust funds in the following amounts:

    Ontario Power Generation: $100,000,000

    Hydro-Québec: $4,000,000

    NB Power: $4,000,000

    Atomic Energy of Canada Limited: $2,000,000

    Trust fund statements:

    Trust Funds: Audited Financial Statements – 2002

    For 2002, consistent with the legislation, the four corporations made further contributions to their respective trust funds in the following amounts:

    Ontario Power Generation: $500,000,000

    Hydro-Québec: $20,000,000

    NB Power: $20,000,000

    Atomic Energy of Canada Limited: $10,000,000

    Trust fund statements:

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