The Power export in Canada reached 67,116 GWh in 2020
The indicator recorded a historical decline at a CAGR of 2.33% between 2017 to 2020
Why did Canada’s power export grow in 2020?
Canada is a developed country, and its economy is highly globalized. Retail, real estate, manufacturing, mining, oil and gas, and construction are the major sectors that drive the economic growth of the country. The country stood at the 3rd position globally in terms of proven oil reserves at the end of 2020. The country is also among the global leaders in the production of different natural resources such as uranium, gold, diamond, and lead. Mineral fuels, vehicles, precious metals, machinery, and wood are the country’s major exports, whereas it majorly imports automotive parts, machinery, electronics, and plastics. The US, China, UK, Japan, and Mexico are Canada’s main trading partners.
Canada is one of the largest exporters of electricity in the world. In 2000, the country imported less electricity than exported in the year. As the country has strong domestic electricity generation and stable power consumption, its power imports needs have remained low. The country exports power to the US and this requires an export authorization issued by the Canada Energy Regulator and may also require approval at the provincial level. Québec, Ontario, Manitoba, and British Colombia are the major Canadian provinces exporting electricity to the US. In 2020 as well, electricity exports were higher than imports.
Supply Security
Canada is an energy surplus country because of its abundant natural resources and low population growth. Canada’s electricity exports in 2020 is among the highest in the world. It exports most of its surplus electricity to the US through several interconnection lines.
Renewable Energy Market, Overview
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.
Under the Constitution Act 1982, Canada’s ten provinces and three territories have jurisdiction over electricity. The provinces have established licensing authorities, regulators, and crown corporations for the administration of the electricity industry. Each province controls the electricity generation, intra-provincial electricity transmission, electricity distribution and market structure within its borders. However, the federal government has authority over certain aspects of the nuclear generation sector, electricity exports and inter-provincial transmission. In certain provinces, a combination of federal and state-owned crown corporations is active whereas in other provinces a group of private and crown corporations carry out electrical generation.
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