The Power consumption in Canada reached 536,640 GWh in 2020
The indicator recorded a historical growth at a CAGR of 0.01% between 2017 to 2020
Why did Canada’s Power consumption decrease in 2020?
From 2000 to 2020, electricity consumption grew at a low-single digit CAGR. In 2020, the power consumption went down by a low-single digit percentage due to the restrictions imposed by the Canadian government to curb the spread of COVID-19. By 2030, the annual power consumption is estimated to grow at a a low-single digit CAGR from 2020 to 2030.
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.
Power consumption is the net electricity consumed by the end users by excluding losses and own consumption and after adjusting exports and imports in a calendar year (fiscal year in some cases). The unit is represented in Gigawatt hours (GWh) and the scope is limited to historic period.
Impact of COVID-19
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 in 2020 as compared to 2019.
With respect to the power sector, the electricity consumption in the country has declined 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. For instance, in May 2020, Suncor Energy announced that it has suspended the construction of the Forty Mile Wind Power Project owing to a decline in crude oil prices and uncertainty regarding the economic impact of COVID-19. The project is now expected to start operations from December 2022 instead of December 2021. Utilities in Canada provided relief to their customers by deferring the payment of their electricity bills. In March 2020, BC Hydro announced that it has started a COVID-19 Relief Fund which was available from 1st April 2020 to 30th June 2020 which provided eligible residential and small business customers with three months of financial relief on their electricity bill. In 2021, the electricity consumption in the country is expected to grow as compared to 2020.
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