The Canadian government proposes to spend C$518.5 million (US $367 million) over the next five years to grow its nuclear power output as a part of its Nuclear Energy Strategy.
On Nov. 5, Canada released its proposed 2026 federal budget that covers its 2026-2027 fiscal year and outlines several multi-year funding projections and trends. Canada’s fiscal year runs from April 1, 2026 to March 31, 2027.
Canada, which sees nuclear power as a big part of its emphasis on clean energy, plans to spend hundreds of millions on nuclear-related regulatory, supply chain and workforce development issues.
The Canadian government wants to reach net-zero carbon emissions by 2050, and nuclear energy will be central to that effort, according to the document. Canada unveiled its Nuclear Energy Strategy in June, outlining the country’s ambitions to build more domestic and international nuclear capacity.
The budget provided a breakdown of the five-year spending, which will be implemented in 2027—2028, for the C$518.5 million (US $367 million):
- Natural Resources Canada, the country’s federal agency responsible for energy, forestry and mines and resources, will receive C$261 million (US $184.7 million), and C$14 million ongoing (US $9.9 million), to assist with developing a nuclear supply chain, research and development and research reactor readiness.
- Canada’s nuclear regulator, the Canadian Nuclear Safety Commission, will receive C$131.1 million (US $92.8 million), to support the agency for incoming new nuclear projects. According to the budget, of this amount C$18.3 million (US $12.9 million) would be cost-recovered.
- For the Atomic Energy of Canada Limited, C$127 million (US $89.9 million) and C$1 million (US $707,845) ongoing, will go to the federally owned private corporation for research infrastructure, workforce development and other nuclear initiatives.
- The country’s international department, Global Affairs Canada, will be allocated C$14.4 million (US $10 million), and C$3.1 million ($2.1 million) ongoing, to promote nuclear export and engage with other governments regarding nuclear power.
- Health Canada, the country’s federal health agency, will be allocated C$3.3 million (US $2.3 million) to provide expertise to the Canadian Nuclear Safety Commission on the health impacts of radiation exposure.
In Canada, the federal budget is proposed by the federal government, led by the Prime Minister and Minister of Finance, and needs to be approved by the Parliament of Canada.
“Nuclear energy is playing a growing role around the world as countries look for reliable, low-carbon electricity to meet rising demand and strengthen their energy security,” according to the budget document. “Canada has a world-class nuclear sector and is well positioned to benefit from this demand, both domestically and internationally.”
According to Canada’s Nuclear Energy Strategy, the country aims to have two large reactors under construction by 2035 and five more planned or in development by 2040. It also wants to have at least one nuclear reactor, including a small modular reactor, in operation or under construction outside of Ontario, Canada by 2035.
