Electricity Forum publishes Electricity Today T&D Magazine and Intelligent Power Today Industrial Electrical Magazine. Letter notifying of Agreement entered into on July 11, 2000 to lease two nuclear power generating plants on the Bruce site and sell related assets to Bruce Power L. P. Created Date 12/2/2005 4:53:54 AM OPG's goal is to be a premier North American energy To learn more about the Power Purchase Agreement (a contract to buy the electricity generated by a power station) price calculation, please refer to the IESO document Bruce Power Nuclear Generating Station PPA Key Elements For further information on the price calculation within the PPA please see (Include link to IESO slide). determine our success in this new environment," said Society Unit Directors John better than planned operations performance, versus the locked-in cost estimate for each unit, 50 per cent of those savings are returned to Ontario customers. Hebb, Rod Sheppard and Bob Wells. For more information please see our statement regarding its role as low-cost electricity provider in Ontario. Pickering facilities. Workers' Union (up to 4%) and The Society of Energy Professionals (up to 1.2%). Once the IESO verifies the fully scoped refurbishment cost for each unit, the Bruce Nuclear price will be adjusted on April 1 to reflect the additional capital investments. the production of more clean-air electricity. The FAO concluded that “there are currently no alternative generation portfolios that could provide the same supply of low-emissions baseload electricity generation at a comparable price to the Base Case Nuclear Refurbishment Plan.” In addition, as to pricing, the FAO estimated that the contract would result in Bruce Power supplying a significant proportion of Ontario’s electricity demand from 2016 to 2064 at an average price of $80.7/MWh in 2017 dollars. As outlined, in 2019, this cost is 7.5 cents per kW/h and this covers all investment the company has made in the site, as well as the funding of all long-term liabilities as required in the company’s … ", "The teamwork we have seen during transition is an example of what Bruce Power leverage our uranium expertise in this unique opportunity that builds on arrangement and supplementary payments for the management of used fuel. periodic variable payments. PROPERTY: TENANT agrees to rent from LANDLORD and LANDLORD agrees to rent to TENANT (the PREMISES). is the generation and sale of electricity to customers in Ontario and to "We are pleased to The IESO then has until 12 months before the refurbishment begins to verify the estimate. Energy Professionals. Bruce Lease Agreement - Used Fuel (PDF), Nov. 30, 2015 Thunder Bay Generating Station Conversion — Declaration and Resolution Thunder Bay Generating Station Conversion - Declaration and Resolution (PDF) , May 1, 2014 stations until 2018. Gateway To North America's Electrical Industry -. However, the company continues to endeavour to answer any questions and provide information of interest to the public and stakeholders. This ONFA established dedicated funds to cover the cost of long-term nuclear waste management, fuel costs and the cost of decommissioning so they’re not passed on to future generations. The lease is for 18 years until 2019 with an option to extend another 25 years to 2044. Work has since resumed on MCR activities and is back on track with strict prevention measures in place to protect workers and to ensure adequate provisions for ongoing operations within the facility. Under separate agreements, Bruce Power leases the facility from Ontario Power Generation (OPG) and through this lease is required to assume all costs associated with its operation, life extension, services and through the lease payments fund the long-term liabilities including the rental of the facility. commitment to improving nuclear performance at their respective stations means The FAO estimates that the Plan will result in nuclear generation supplying a significant proportion of Ontario electricity demand from 2016 to 2064 at an average price of $80.7/MWh in 2017 dollars. The agreement allows OPG to concentrate The agreement aims to extend the life of Bruce nuclear generating station’s CANDU reactors to 2064. Create your free motor vehicle lease form today to lease a car, truck, motorcyle, or other vehicle. "This transaction represents a major step forward in our North American COLLECTIVE AGREEMENT Between BRUCE POWER LP by its General Partner BRUCE POWER INC. And POWER WORKERS' UNION CANADIAN UNION OF PUBLIC EMPLOYEES-C.L.C. electricity marketplace to competition. The supplemental unit rate is currently in the order of If Bruce Power is unable to perform or is delayed in performing its obligations  and determines the reason for such inability or delay was an act, event, cause or condition that it believes was an event of FM, then as agreed to in our contract, we may invoke FM. As outlined in the Amended and Restated Bruce Power Refurbishment Implementation Agreement  Bruce Power and the Independent Electricity System Operator (IESO) under certain circumstances may invoke Force Majeure (FM) which is a typical element to contractual agreements of this nature. The Bruce Power facility will continue to be managed and operated by the management and staff of Bruce Power. Following a condition assessment that confirmed the technical The lease is for a In 2018 the Canadian Manufacturers and Exporters (CME) released a report that looks at how extending the life of the Bruce Power site to 2064 will positively impact the people of Ontario through low-cost, reliable, carbon-free electricity, as well as the continued investment in jobs and the economy. British Energy's current interest of 85% will reduce progressively to 79.8% as Sir John Robb. feasibility and economic soundness of restarting two Bruce A reactors, Bruce No later than 15 months prior to the scheduled refurbishment of each reactor unit, Bruce Power is required to provide the IESO with a fully scoped refurbishment cost and schedule for the unit. The Bruce Power Contract contemplates the life extension of up to six nuclear reactors which is achieved through Major Component Replacement (MCR), commonly referred to as refurbishment, and Asset Management (AM). Until those meetings begin the details of the tentative agreement will remain confidential. Our Refurbishment Implementation Agreement was developed to ensure Bruce Power assumes responsibility for the operation and life extension of the units, ensuring a stable supply and price certainty of electricity generated at the site. Geneva, NY We look forward All the output from the Bruce stations will be sold into the new Ontario Ontario is protecting customers by strictly controlling the cost and timetable of the refurbishments to ensure that they are delivered on time and on budget. billion, representing one of the largest public/private transactions in Canadian "This agreement injects private equity into the Our Electrical Training Institute is a leader in electrical training, through public enrolment electrical courses as well as on-line electrical training courses and webinars. In LEASE AGREEMENT This Lease is made on BETWEEN (LANDLORD) whose address is AND (TENANT) The word "TENANT" refers to each Tenant named above. into an entirely different atmosphere," said representatives of The Society of Bruce Power receives a fixed price for its generation that is inclusive of all its current costs and funding of future decommissioning liabilities in the facility. to where we are today and it will be our future actions and behaviours that will This agreement, with provisions for a long-term partnership through 2032, gives Bruce Power the benefit of experience and relationships of multiple projects, and allows SGRT to establish a long-term presence in the Bruce Power community. The IESO also hosts a Price Overview Section on its website, which contains historical data on electricity prices, as well as the impact on the Global Adjustment (GA) by each generation type, including Bruce Power Nuclear. "Our partnership with British Energy, the Power Workers' Union and The Society Bruce facilities and represents a major step towards opening the Ontario communities.". Robin Jeffrey, Chairman Designate of British Energy plc and Chairman of Bruce We stand in solidarity with Black, Indigenous and People of Colour (BIPOC) communities across the world in the unquestionable proclamation that the lives of BIPOC Matter. In December 2015, Bruce Power amended its long-term contract with the IESO, an organization established under the Electricity Act to manage Ontario’s electricity system. Ontario Power Generation is an Ontario-based company, whose principal business Central to this contract is the 13-year Major Component Replacement (MCR) Project, which aims to extend the life of Units 3- 8 for an additional 30 years. This lease arrangement is designed to ensure all costs related to Bruce Power’s operation are assigned to the company and included within its price of power. The average price over the life of the contract was estimated by the FAO to be $80.7/ MWh (2017$). strategy, enabling us to deploy both our existing nuclear operating skills and The company is required under its contract with the Independent Electricity System Operator (IESO) to sell all of its electricity output at a fixed price. Officer of Bruce Power. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support The agreement adheres to the 2013 Long-Term Energy Plan refurbishment principles and ensures that operating and refurbishment execution risks reside with Bruce Power. "This event marks the beginning of a new era for our employees and the local There is some commercially sensitive information that has to remain confidential to maintain that competitive tension. Bruce A station. "Congratulations Bruce Power. 2, Tiverton ON, N0G 2T0 Under the lease agreement Bruce Power Generation will pay C$625 million ($420.8 million) to Ontario Power Generation, which includes an initial lease payment of C$540 million ($363 million) and fuel stock and other assets for C$85 million ($57 million). northwest of Toronto. Define Bruce Power Collective Agreements. The Bruce Power facility will continue to be managed and operated by the management and staff of Bruce Power. The two Bruce total, fixed and variable payments are estimated to be about C$150 million in Mission Innovation Adds Members, Launches Clean Energy Challenges, Wave and Tidal Energy Market Studies Research 2025 Detailed Analysis of Restrain and Growth Factors, Four-Year U.S. Wind Forecast Sees Quarter-Million Jobs, Emergency Generators & Standby Power Systems, Grounding and Bonding and The NEC - Section 250, NFPA 70b Training - Electrical Equipment Maintenance, Fire Alarm Training Online - Life Safety Equipment & Systems - Design, Installation, Inspection, Testing, Service & Maintenance, Lightning Protection Systems Training For Utility, Industrial, Commercial & Institutional power systems, Electrical Distribution System Protection – Distributed Energy and Renewable Energy Resources, Arc Flash Training - CSA Z462 -2021 - Certified Electrical Safety Instruction, Power System Electro-Magnetic Transients (EMT) Simulation, Combined LV & HV Electrical Safety Training, Electrical Grounding and Bonding Training For Industrial, Commercial Institutional Power Systems, Canadian Electrical Code Training - 2021 Edition Code Changes and Fundamentals, 30 Hour Electrical Power System Training - Analysis and Design, Protection and Coordination, Arc Flash Analysis and Study - March 8-9, 2021, March 29-30, 2021 and April 12, 2021. Bruce Power is responsible for all capital costs related to the MCR program and the risk of executing the project from a cost and schedule perspective once it receives approval to proceed. On March 25, 2020, Bruce Power declared FM under its contract with the Independent Electricity System Operator (IESO) due to the impact of COVID-19. A Vehicle Leasing Agreement allows a buyer to pay toward the purchase of a vehicle over time or lease the vehicle for a pre-set period. surrounding jurisdictions. nuclear power in Canada. Bruce Power started operating the generating station in May 2001. The lease will run until 2018 with an option to extend for a further 25 years. and the two main unions representing employees on the Bruce site, the Power operating in a safe, open and environmentally responsible manner. Hazardous (oils, chemicals, lighting lamps and ballasts – some of which are recyclable), Recyclables (glass, cardboard, plastic, paper, metal, wood, batteries and electronics). before various closing adjustments, paid in three installments, as well as the unions take up their full equity interest in Bruce Power by May 2003. Our Life-Extension Program, including the Major Component Replacement (MCR) Project, will provide clean, reliable, low-cost electricity to 2064 and beyond. In June 2000, OPG entered into a long-term lease agreement with private sector consortium Bruce Power to take over operation. who have worked to see this historic agreement through to completion," said The difference between a solar lease and a solar PPA (Power Purchase Agreement) is explained in this article. deserved top marks for its positive impact on air quality in Ontario and TABLE OF CONTENTS Part Title Pages ARTICLES 1-27 A TERMS AND CONDITIONS A1-A150 The cost to manage these liabilities will be determined through the Ontario Nuclear Fund Agreement (ONFA) process and are reflected in Bruce Power’s price of power. As outlined above, this is where the agreements with OPG related to the lease and other services are aligned with Bruce Power’s contract with the IESO to ensure the price is fully inclusive of all costs. Pickering, ON performance targets for the four operational reactors at Bruce B. The Bruce nuclear power stations include four operating reactors at the Bruce B Bruce Power is a leading supplier of medical isotopes that are used worldwide in life-saving cancer treatments and sterilization of medical devices. These 16 agreements include the Amended and Restated Used Fuel Waste and Cobalt-60 Agreement The Bruce Power Life-Extension Program is made up of the MCR over a 13-year period which started construction work in 2020 as well as an Asset Management Plan. For more information see here Major Component Replacement Project Economic Impact Analysis. "It's our past accomplishments that have allowed us to get Bruce Power must and will use commercially reasonable efforts to prevent or remedy the situation and resume its obligations as soon as the event of FM has been overcome. 1 and facilities to Bruce Power L.P. (“Bruce Power”). Power. In 2017 the FAO reviewed how the Nuclear Refurbishment Plan will impact ratepayers and the province, and to identify how financial risk is allocated among ratepayers, the province, OPG and Bruce Power. Bruce Power entered into the Bruce Power Refurbishment Implementation Agreement (BPRIA) in 2005 to enable the restart of Bruce Units 1 and 2, to return the site to its full operating capacity of eight units. 12 and Bruce Power, including lease payments. entered into a long-term lease agreement with the Bruce Power Limited Partnership (Bruce Power)— a private-sector partnership made up of British Energy PLC (79.8%); the Cameco Corporation, a private-sector uranium producer (15%); and the facility’s two primary unions (5.2%)—to take over operation of the Bruce facility. Under the contract, subsequent MCRs are expected to improve on cost and schedule by building on lessons learned and experience. For more information about nuclear waste specifically related to the MCR program please see here. company focused on low-cost power generation and wholesale energy sales while We are the source of half of Ontario’s nuclear generation, and the lowest cost source of nuclear energy in the province. Lease Agreement: Bruce Power, as the tenant of the leased premises, pays to OPG in 2 monthly installments an annual rent consisting of a predetermined base component and a 3 variable supplemental component. The FAO provides independent financial analysis to the provincial legislature. 2. This includes front-end costs which consider the portion of the nuclear fuel cycle leading up to electrical power production in a nuclear reactor as well as back-end costs which encompass, at minimum, on-site pool storage and long-term waste disposal. 1885 Clements Rd, Unit 218 The IESO has a team assigned to the Bruce Power site to monitor the development of these estimates consistent with the contract and project management best practices by Bruce Power in the facility. Bruce Power is committed to making information available and answering questions. calendar year 2002. "Bruce Power looks forward to playing a vital role in the success of Trades workers are referred from the appropriate Building Trades Union (BTU) under the Chestnut Park Accord Addendum. and enthusiasm we have received from employees, the unions and the local Bruce Power believes the lease is one of the largest transactions in Canadian history. This page is set up to provide information to the public and interested stakeholders on this important arrangement with the IESO. Bruce Power manages many different forms of waste, including: Bruce Power manages radioactive waste in partnership with OPG. Bruce Power welcomes some 3,000 employees who are transferring from OPG to Bruce Bruce Power receives price adjustments for a number of variable factors such as inflation and Life Extension/MCR incremental capital investments. Bruce Power is now the licensed operator and will lease the Bruce A … Bruce Power has always taken an active role for many years to reduce all forms of waste. Bruce Power is now the licensed operator and will lease the Bruce A and Bruce B TERM: The term of this lease is for ,starting on and ending on . The initial lease term was for 18 years plus Asset Management includes the ongoing inspection, maintenance, replacement and refurbishment activities not included in Major Component Replacement necessary to extend the life of components. The report concluded that there are currently no alternative generation portfolios that could provide the same supply of low-emissions baseload electricity generation at a comparable price to the Base Case Nuclear Refurbishment Plan. 14456 PWU nominee to the Bruce Power Board of Directors. We publish electrical technical handbooks and associated digital magazine advertising supplements. Agreement is dated as of the 3rd day of December, 2015 between Bruce Power L.P. (the “ Generator ”), a limited partnership created under the laws of the Province of Ontario and as represented by its general partner, Bruce Power Inc., and the Independent Electricity System The transaction included a lease agreement for the facility and a series of ancillary agreements . Phone: 519 361 2673 "Based on the principles of The contract with the IESO for Bruce Power’s output is adjusted on an annual basis (on April 1), coinciding with the pace of established capital work scope within the contract for life extension. The cooperation agreement was an early and important step for Bruce Power and its partners to work together to tackle the challenges of climate change, while also developing a resource base which was used to later provide valuable insight into NRCan’s SMR roadmap. Toll Free: 1 866 748 4787 Officer and a member of the Bruce Power Board of Directors. Nuclear fuel costs are inclusive of the entire nuclear fuel cycle which considers the cradle-to-grave life cycle from extracting uranium ore from the earth to power production in a nuclear reactor to permanent disposal of the resulting spent nuclear fuel. Cameco's long-term strategy to grow profitably in the nuclear industry.". "Bruce Power and Ontario Power Generation's The FM notice covered the Unit 6 Major Component Replacement (MCR) and certain eligible FM Asset Management Work. A lease agreement to operate the Bruce station was signed between OPG and Bruce Power in 2001. Email: info@brucepower.com, Contact | Terms of Use | Accessibility | Sr. PO Box 1540 177 Tie Rd., R.R. The price paid for Bruce Power nuclear electricity is fully inclusive of all costs, including capital investments that have been made, funding for fuel, waste and decommissioning liabilities and every element of the company’s operation. Unit 1 was returned to the grid on Sept. 20, 2012, with Unit 2 following shortly thereafter on Oct. 18, 2012. The report – a joint effort between the Canadian Manufacturers & Exporters, the Provincial Building and Construction Trades Council of Ontario, and Bruce Power – shows that 22,000 Ontario jobs will be created and sustained directly and indirectly through the Bruce Power Life-Extension Program every year, while $4 billion in domestic economic benefit will be realized through the direct and indirect spending on operational equipment, supplies, materials and labour income annually, For more information see here – Powering Innovation, Jobs and Economic Growth. The variable payments include a net revenue-sharing Power recently announced the launch of a program to restart the two reactors by In the Tel 289-387-1025, Maryland Reveals 2017 Investment Plans For Green Jobs, Renewables. "Today's transaction is positive news for employees, the community, the The report, Major Component Replacement Project Economic Impact Analysis, reveals that the 13-year-long MCR Project would be of significant benefit to the economy through economic impact, GDP increase, tax revenue, and opportunities for local workers and industry. The base rent is set out in the Lease Agreement and 4 fixed for each year of the lease. Notification of FM must be made within 20 days of determining for the occurrence of a FM event. The Bruce Power stations are located near Kincardine, Ontario, about 250 km Toll Free: 855-824-6131, The Electricity Forum Inc. (USA) The LANDLORD is not responsible if the The Society of United Professionals’ Bruce Power Local will hold ratification meetings with its members over the coming weeks to detail the contents of the tentative agreement. The restart is conditional on obtaining regulatory approvals and achieving the Bruce site, Bruce Power is honouring the current collective bargaining The Electricity Forum (In Canada) Under the terms of the lease, spent fuel, waste and decommissioning liabilities remain the responsibility of Ontario Power Generation, but will continue to be funded by Bruce Power through this agreement. annual lease payments. years. 742 Pre Emption Road Life-Extension. interconnected markets. This was something Bruce Power would support a solution to as part of the agreement . While working under the PWU/Bruce Power Appendix A, BTU members are represented by the PWU as PWU … The Bruce Lease agreement sets out the 2 main terms and conditions of the lease arrangement between OPG and Bruce Power, 3 including lease payments. our experience of trading in competitive markets," said British Energy Chairman, By invoking FM, Bruce Power is excused and relieved from performing or complying with its obligations under the contract. Used fuel from Bruce Power’s operations is owned by OPG, and as part of the lease agreement with OPG, Bruce Power pays a per-megawatt fee to … There is also an option to extend the lease for up to a further 25 generator, Cameco Corporation (15%), the world's largest uranium fuel supplier Our philosophy employs a whole life-cycle approach in that we reduce waste, generate less waste at the company level, find opportunities to reuse products (on-site, off-site donations, auction), and implement recycling programs that are available in the ever-changing recycling market. As of April 1, 2020, the price of electricity from major sources of electricity in Ontario is as follows: The average price of electricity paid to generators as of April 1, 2020 in Ontario is $128 .03/MWh. A feasibility study for the potential deployment of micro nuclear reactors across Canada, including Bruce Power being the owner and/or operator of a fleet of U-Battery units. Unlike natural gas prices, which are very sensitive to market changes, nuclear fuel costs are predictable and stable. 4 5 In addition, OPG and Bruce Power have entered into a number of associated agreements … Learn more. history. In addition to leasing the power plants and related systems, Bruce Power also acquired nuclear fuel and other assets . Solar leases mean a fixed monthly lease payment. Bruce Power takes great pride in ensuring that it is delivering Ontario customers low-cost, reliable, GHG-emissions free power. communities," said Dennis Fry, Power Workers' Union Executive Board member and Solar PPA and leases are generally better for people with credit challenges or cannot take advantage of the solar investment tax credit (ITC). "I really would like to say 'thank you' for the support LOCAL 1000 January 1, 2010 - December 31, 2010 . on accelerating the performance improvements under way at its Darlington and PPA means you only pay for the electricity you use. The lease payments include monthly fixed payments and agreements and will safeguard existing pensions and other benefits. Inquiries can be directed to info@brucepower.com. In May 2001, Bruce Power began operations. We comply with all waste regulations and requirements of the relevant federal authorities. station, with a capacity of 3,140 megawatts, and four laid-up reactors at the On Oct. 17, 2005, Bruce Power reached an agreement with the Ontario Power Authority and launched a $4.25 billion investment program to refurbish and restart Bruce A Units 1 and 2. A reactors have a capacity of 1,500 megawatts. When this long-term contract was announced in 2015, Bruce Power issued this news release, a backgrounder along with key elements of the contract, named the Amended and Restated Bruce Power Refurbishment Implementation Agreement. ", "We have successfully entered, not only into a partnership with new owners but, In 2013, the Province of Ontario’s Long Term Energy Plan (LTEP) established the policy framework for future refurbishments including a requirement to establish realistic off-ramps. To the extent that alternative generation options emerge over the life of the Plan, opportunity cost risk is mitigated by economic off-ramps in the Bruce Contract and the Province’s ability to terminate Darlington Nuclear Generating Station refurbishment. Given the pandemic, the Unit 6 MCR program was scaled back and limited to essential tasks related to plant safety and system integrity. Bruce Power entered into the Bruce Power Refurbishment Implementation Agreement (BPRIA) with the government of Ontario in 2005 to restart Units 1 and 2, which had been shut down by Ontario Hydro, and refurbish the entire plant in phases. looking forward to working with our partners to make Bruce Power both a business of Energy Professionals underscores the confidence we all share in the future of means the labour agreements entered into with each of the PWU, Canadian Union of Public Employees – C.L.C. The current price paid for electricity from Bruce Power, as of April 1, 2020, is $78.55/ MWh. Additionally, through Bruce Power’s site lease with OPG, the company will continue to fund decommissioning and waste management costs. Are solar and wind really killing coal, nuclear and grid reliability? career challenges for both our members and communities.". Like MCR costs, the costs of asset management activities are recovered through the contracted price of power. The timing of the completion of the Units 3-8 MCR Program has been staggered, designed to optimize the operational life of each unit and to meet electricity supply needs. Power effective today. Bruce Power is Ontario’s lowest cost source of nuclear power, producing more than 30 per cent of the province’s electricity at 30 per cent less than the average cost to generate residential power. to working with you to secure exciting and long- term working relationships and L1W3V4 TIVERTON, ON -- Ontario Power Generation (OPG) and Bruce Power today announced the successful financial close of the transaction related to Bruce Power's lease of the Bruce nuclear power stations from OPG. Under the terms of the lease, spent fuel, waste and decommissioning liabilities remain the responsibility of Ontario Power Generation, but will continue to be funded by Bruce Power through this agreement. Read the Ministry of Energy's news release and the IESO's backgrounder on the Amended and Restated Bruce Power Refurbishment Implementation Agreement. ", "The successful conclusion of this transaction is a tribute to the many people This lease arrangement is designed to ensure all costs related to Bruce Power’s operation are assigned to the company and included within its price of power. can do by achieving through people," said Duncan Hawthorne, Chief Executive ", Don MacKinnon, Power Workers' Union President, said the Bruce transaction electricity consumer and the nuclear industry," said Ron Osborne, OPG President It allows the company to operate the plant until 2018, with an option to extend the arrangement for up to 25 more years. At the time the FM was declared, the Unit 6 MCR Program was ahead of schedule with the early completion of the reactor defuel window. Given this, the Bruce Power contract with the IESO established two types of off-ramps for the province: As outlined in the 2017 LTEP, Bruce Power assumes the risk of any cost overruns during the execution of the refurbishment. PWU members are referred to Bruce Power through the Joint Canadian Union of Skilled Workers (CUSW)/PWU Dispatch for all electrical trades and non-trades work. Amended and Restated Bruce Power agreed, to a cost and schedule estimate for each refurbishment project financial Office! 2012, with Unit 2 following shortly thereafter on Oct. 18, 2012, an. Operator and will lease the Bruce station was signed between OPG and Bruce Power refurbishment Implementation agreement for lease. And wind really killing coal, nuclear fuel costs see here vital in. And waste management costs of used fuel commercially sensitive information that has to remain confidential Power INC. Power! 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