0
0
Home > Power >  Canada Power Market Size, Share & Trends Analysis and Forecast 2021-2030

Canada Power Market Size, Share & Trends Analysis and Forecast 2021-2030

This report discusses the power market structure of Canada and provides historical and forecast numbers for capacity, generation, and consumption up to 2030. Detailed analysis of the country’s power market regulatory structure, competitive landscape, and a list of major power plants are provided. The report also gives a snapshot of the power sector in the country on broad parameters of macroeconomics, supply security, generation infrastructure, transmission and distribution infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential. An analysis of the deals in the country’s power sector is also included in the report.

Canada power market overview

Canada power market overview

For more insights, download a free report sample

Hydropower will continue to dominate annual generation in Canada till 2030

In 2020, hydropower held a share of more than 60% in total annual generation in Canada. This share is expected to marginally decline by 2030; however, it will continue to hold the dominant share in Canada’s generation mix. Canada is among the global leaders in hydropower generation. Several provinces in the country including British Colombia, Quebec, and Manitoba generate over 90% of their electricity from hydropower. Several large and small hydro plants are under construction in the country which will aid hydropower to continue its dominance in Canada’s power mix by 2030. The country is also expected to rapidly increase pumped storage facilities to maintain energy security during peak demand.

How is Canada’s power market structured?

The power market in Canada is regulated by Natural Resources Canada (NRCan) or also known as the Ministry of Natural Resources. NRCan is vested with the responsibility of framing policies and programs that enhance the contribution of the sector for natural resources to the economy. The Canada Energy Regulator (CER) works under the NRCan and is responsible for providing licenses and supervising and regulating the electric utilities in the country. CER was established in August 2019 under the Canada Energy Regulator Act. CER superseded the National Energy Board from which it took over the regulatory responsibilities related to the energy sector.

Who are the key players in the Canadian power market?

The power generation segment in Canada is dominated by Hydro-Quebec, followed by Ontario Power Generation Inc, BC Hydro, Manitoba Hydro-Electric Board, TransAlta Corp, Saskatchewan Power Corp, and New Brunswick Power Corp. The transmission network in Canada is managed by several regional companies. Expansion of intra-provincial transmission lines requires approvals from provincial regulators, whereas for the expansion for inter-provincial transmission lines, approvals are required from the Canada Energy Regulator. Major transmission system operators in the country are Hydro-Québec, Hydro One, and BC Hydro.

The electricity distribution network in Canada is completely dominated by provincial companies. These companies are responsible for the construction of new distribution lines, as well as managing existing distribution network. In certain provinces, distribution companies need to take prior approval from Independent Electricity System Operator (IESO) which performs a connection assessment to determine the impact of the connection on the reliability of the grid. Major distribution companies in the country are Alectra Utilities, Hydro One, and Hydro-Québec Distribution.

Canada power market, by key players

Canada power market, by key players

To know more about key players, download a free report sample

Where are the opportunities in the Canadian power market?

Energy storage technology is a new and underdeveloped market in Canada. The technology is required to maintain real time grid frequency and to match generation & consumption as per scheduling. Ontario is the leading province in developing energy storage systems. Hecate Energy is manufacturing the largest energy storage unit in Canada. As the intermittent renewable power market is booming in Canada, energy storage (batteries, flywheels, compressed air in energy storage) market is expected to be a fast-growing industry which will offer ample investment opportunities for domestic and international players.

What are the challenges faced by the Canadian power market?

High dependence on hydropower generation is the major challenge for the Canadian power sector. In 2020, hydropower generation share stood at 60% in total generation. Hydropower generation is completely dependent on rainfall and water availability, and vulnerable to the country’s droughts. Major droughts occurred in early 2000s leading to significant drop in hydropower generation. If such droughts happen again in the future, hydropower generation would decline, and it could endanger the supply security of the country.

How has COVID-19 affected the Canada power market?

Canada was significantly affected due to the COVID-19 pandemic in 2020. To curb the spread of COVID-19, the Canadian Government imposed strict lockdowns in the country. These lockdowns affected the country’s growth with GDP declining by 5.4% in 2020 as compared to 2019.

With respect to power sector, the electricity consumption in the country declined by 2.5% in 2020 as compared to 2019. Electricity demand from industrial and commercial sectors declined significantly due to lockdowns. The plummeting demand also hindered the power generation in the country. In May 2020, Canada’s BC Hydro ordered Innergex Renewable Energy to halt power generation due to demand collapse during the COVID-19 outbreak. The COVID-19 pandemic also delayed several under construction renewable projects due to quarantine measures and travel restrictions in the country.

Market report scope

Cumulative power capacity (Year – 2020) 151.5 GW
Base year for estimation 2020
Market overview by Capacity & generation, and transmission & distribution
Forecast period 20212030
Key companies Hydro-Quebec, Ontario Power Generation Inc, BC Hydro, TransAlta Corporation, Manitoba Hydro-Electric Board

This report provides a comprehensive analysis of the power market in Canada and contains the following sections.

  • The executive summary captures the key trends in the country’s power market.
  • The “Canada Power Market, Snapshot” section provides a snapshot of the key parameters that affect the country’s power sector, as well as key points about the country’s power market including opportunities, challenges, and the impact of COVID-19.
  • The “Canada Power Market, Market Analysis” section provides the market structure, generation market share, deals, and demand structure.
  • The “Canada Power Market, Regulatory Scenario” section details the regulations and policies in the country’s power sector.
  • The “Canada Power Market, Capacity and Generation” section provides information on cumulative installed capacity and annual generation trends, by individual generation source.
  • The “Canada Power Market, Transmission and Distribution Overview” section discusses the power T&D infrastructure, electricity import and export, grid interconnections, and electricity trading.
  • The “Canada Power Market, Major Generating Companies” section discusses the major electricity generating companies in the country.

Reasons to Buy

  • Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s power sector
  • Identify key factors driving investment opportunities in the country’s power sector
  • Facilitate decision-making based on strong historic and forecast data
  • Develop strategies based on the latest regulatory events
  • Position yourself to gain the maximum advantage of the industry’s growth potential
  • Identify key partners and business development avenues
  • Identify key strengths and weaknesses of important market participants
  • Respond to your competitors’ business structure, strategy, and prospects

Companies Mentioned

Hydro-Quebec, Ontario Power Generation Inc, BC Hydro, Manitoba Hydro-Electric Board, TransAlta Corp, Saskatchewan Power Corp, New Brunswick Power Corp

Table of Contents

Table of Contents

| About GlobalData

1. Executive Summary

1.1 Hydropower will continue to dominate annual power generation in Canada till 2030

1.2 Favourable government policies to drive renewable power market in Canada

2. Introduction

2.1 Canada Power Market

2.2 GlobalData Report Guidance

3. Canada Power Market, Snapshot

3.1 Country Summary

3.2 Macroeconomic Factors

3.3 Supply Security

3.4 Opportunities

3.5 Challenges

3.6 Impact of COVID-19

4. Canada Power Market, Market Analysis

4.1 Market Structure

4.2 Key Market Players

4.3 Financial Deals

– Deal Value and Volume, 2010-2020

– Deals by Type, 2020

4.4 Canada Power Market, Demand Structure

– Power Consumption by Sector, 2020

5. Canada Power Market, Regulatory Scenario

5.1 Renewable Energy Market, Overview

5.2 Renewable Energy Targets

5.3 Federal Programs, Canada

– New Federal Tax Policy

– New Carbon Tax

– Federal Incentive Programs

– Hydrogen Energy

5.4 Renewable Energy Policy Framework, Alberta

– Climate Leadership Plan (CLP)

– Renewable Energy Program (REP) – Auctions

– Net Metering

– Technology Innovation and Emissions Reduction (TIER) Regulation

– Financial Incentives and Policy Support for Solar

– Financial Incentives and Policy Support for Wind

5.5 Renewable Energy Policy Framework, British Columbia

– Clean Energy Act

– Hydro Net Metering

– Climate Change Accountability Act

– CleanBC Plan

– Carbon pricing

– Innovative Clean Energy Fund

5.6 Renewable Energy Policy Framework, Manitoba

– Climate and Green Plan

– Clean Energy Strategy

– Residential Earth Power Loan

– Green Energy Equipment Tax Credit

5.7 Renewable Energy Policy Framework, New Brunswick (NB)

– Climate Change Action Plan

– New Brunswick Regulation 2015-60

– Renewable Portfolio Standard

– Community Renewable Energy

– Large industrial renewable energy purchase program

5.8 Renewable Energy Policy Framework, Newfoundland and Labrador

– 2007 Energy Plan

– Net Metering

– Biogas Electricity Generation Program

5.9 Renewable Energy Policy Framework, Northwest Territories (NWT)

– 2030 Energy Strategy: The Energy Action Plan (2018-2021)

– Arctic Energy Alliance (AEA)

– Net Metering

5.10 Renewable Energy Policy Framework, Nova Scotia

– Renewable Electricity Plan, 2010

– Renewable Electricity Standard Regulations

– Business Plan 2020-2021

– Cap and Trade Program

– Net Metering

– Renewable to Retail Program

– Marine Renewable Energy Act

– Solar Energy Programs and Projects

– Community Economic Development Investment Fund (CEDIF)

5.11 Renewable Energy Policy Framework, Ontario

– Green Energy Repeal Act, 2018

– Bill 34

– Long Term Energy Plan, 2017

– Climate Change Mitigation and Low-carbon Economy Act

– Net Metering

5.12 Renewable Energy Policy Framework, Prince Edward Island (PEI)

– Provincial Energy Strategy (2016)

– Tax exemption

– Clean Energy Price Incentive

– Net metering

– Energy Saving Bonds

– Climate Change Action Plan 2018-2023

5.13 Renewable Energy Policy Framework, Quebec

– Energy Policy 2030

– 2018-2023 Action Plan

– Net Metering

5.14 Renewable Energy Policy Framework, Saskatchewan

– Renewable Energy Targets

– Request for qualification (RFQ) & Request for proposal (RFP) Process

– Power Generation Partner Program (PGPP)

– Net Metering Program

6. Canada Power Market, Capacity and Generation

6.1 Cumulative Capacity Share by Technology, 2020

6.2 Total Power Capacity and Generation, 2000-2030

6.3 Thermal Power Capacity and Generation, 2000-2030

6.4 Hydropower Capacity and Generation, 2000-2030

6.5 Nuclear Power Capacity and Generation, 2000-2030

6.6 Renewable Power Capacity and Generation, 2000-2030

7. Canada Power Market, Transmission and Distribution Overview

7.1 Transmission Network

7.2 Distribution Network

7.3 Electricity Import and Export

7.4 Grid Interconnection

7.5 Electricity Trading

8. Canada Power Market, Major Generating Companies

8.1 Hydro-Quebec

– Company Overview

– Business Description

– SWOT Overview

8.2 Ontario Power Generation Inc

– Company Overview

– Business Description

– SWOT Overview

8.3 BC Hydro

– Company Overview

– Business Description

– SWOT Overview

8.4 Manitoba Hydro-Electric Board

– Company Overview

– Business Description

– SWOT Overview

8.5 TransAlta Corp

– Company Overview

– Business Description

– SWOT Overview

8.6 Saskatchewan Power Corp

– Company Overview

– Business Description

– SWOT Overview

8.7 New Brunswick Power Corp

– Company Overview

– Business Description

– SWOT Overview

9. Appendix

9.1 Abbreviations

9.2 Market Definitions

– Power

– Renewable Power

– Installed Capacity

– Electricity Generation

– Electricity Consumption

9.3 Methodology

– Coverage

– Secondary Research

– Primary Research

– Modelling and Forecasting

| Contact Us

List of Tables

List of Tables

Table 1: Power Market, Canada, Macroeconomic Factors, 2000-2030

Table 2: Key Regulatory Authorities, Canada

Table 3: Renewable Energy Targets, Federal and Provincial, Canada

Table 4: Hydrogen Energy Strategy, Canada, 2020-2050

Table 5: Rebate Per Watt of Total Solar PV Installed Capacity (CAD/W), Alberta, 2021

Table 6: Investments for 2030 Energy Strategy by Strategic Objective, NWT, 2018-2021

Table 7: Renewable to Retail Market Transition Tariff, NS, 2021

Table 8: Power Market, Canada, Cumulative Capacity and Annual Generation, 2000-2030

Table 9: Power Market, Canada, Cumulative Capacity and Annual Generation Share by Technology, 2000-2030

Table 10: Thermal Power Market, Canada, Cumulative Capacity and Annual Generation, 2000-2030

Table 11: Thermal Power Market, Canada, Major Plants, 2020

Table 12: Hydropower Market, Canada, Cumulative Capacity and Annual Generation, 2000-2030

Table 13: Hydropower Market, Canada, Major Plants, 2020

Table 14: Nuclear Power Market, Canada, Cumulative Capacity and Annual Generation, 2000-2030

Table 15: Nuclear Power Market, Canada, Major Plants, 2020

Table 16: Renewable Power Market, Canada, Cumulative Capacity (GW), 2000-2030

Table 17: Renewable Power Market, Canada, Annual Generation (TWh), 2000-2030

Table 18: Renewable Power Market, Canada, Major Plants, 2020

Table 19: Power Market, Canada, Transmission Line Length (Ckm) by Voltage Level, 2010-2025

Table 20: Power Market, Canada, Distribution Line Length (Ckm), 2010-2025

Table 21: Power Market, Canada, Annual Electricity Import and Export (TWh), 2000-2020

Table 22: Power Market, Canada, Upcoming Interconnection Projects

Table 23: Abbreviations

List of Figures

List of Figures

Figure 1: Power Market, Canada, Annual Generation Share by Technology, 2000-2030

Figure 2: Renewable Power Market, Canada, Cumulative Capacity, 2000-2030

Figure 3: Power Market, Canada, Country Summary

Figure 4: Power Market, Canada, Macroeconomic Factors, 2000-2030

Figure 5: Power Market, Canada, Market Structure

Figure 6: Power Market, Canada, Market Share of Generation Companies (%), 2020

Figure 7: Power Market, Canada, Deal Value and Number of Deals, 2010-2020

Figure 8: Power Market, Canada, Deals by Type (%), 2020

Figure 9: Power Market, Canada, Annual Power Consumption, 2000-2030

Figure 10: Power Market, Canada, Power Consumption by Sector (%), 2020

Figure 11: Power Market, Canada, Cumulative Capacity Share by Technology (%), 2020

Figure 12: Power Market, Canada, Cumulative Capacity and Annual Generation, 2000-2030

Figure 13: Power Market, Canada, Capacity Share by Technology, 2000-2030

Figure 14: Power Market, Canada, Annual Generation Share by Technology, 2000-2030

Figure 15: Thermal Power Market, Canada, Cumulative Capacity and Annual Generation, 2000-2030

Figure 16: Hydropower Market, Canada, Cumulative Capacity and Annual Generation, 2000-2030

Figure 17: Nuclear Power Market, Canada, Cumulative Capacity and Annual Generation, 2000-2030

Figure 18: Renewable Power Market, Canada, Cumulative Capacity, 2000-2030

Figure 19: Renewable Power Market, Canada, Annual Generation, 2000-2030

Figure 20: Power Market, Canada, Annual Electricity Import and Export, 2000-2020

Frequently Asked Questions

Canada’s total cumulative power capacity in 2020 was 151.5 GW.

The power generation segment in Canada is dominated by Hydro-Quebec, Ontario Power Generation Inc, BC Hydro, TransAlta Corporation, and Manitoba Hydro-Electric Board.

Hydropower, including large conventional hydro, pumped storage, and small hydro, was the dominant source of power in 2020, accounting for more than 50% of total installed capacity.

Canada’s energy policy is regulated by the Natural Resources Canada (NRCan). NRCan is vested with the responsibility of framing policies and programs that enhance the contribution of the sector for natural resources to the economy.

Power consumption increased from 461.7 TWh in 2000 to 536.6 TWh in 2020, growing at a CAGR of 0.8%.

In 2020, the industrial sector had the dominant share in power consumption accounting for more than 35%.

Major transmission system operators in the country are Hydro-Québec, Hydro One, and BC Hydro.

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2960

Join our mailing list

Saved reports