Canada Power Market Size and Trends by Installed Capacity, Generation, Transmission, Distribution and Technology, Regulations, Key Players and Forecast, 2022-2035

Pages: 111 Published: August 02, 2022 Report Code: GDPE2287ICR

The Canada power market cumulative installed capacity was 151.6 GW in 2021. The market is expected to achieve a CAGR of more than 1% during 2021-2035. The Canada power market research report discusses the power market structure of Canada and provides historical and forecast numbers for capacity, generation, and consumption up to 2035. 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 Outlook

Canada Power Market Outlook

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Canada Power Market Dynamics

Canada has set a target to produce nearly all its electricity from non-emitting sources by 2035. The Canadian Government had announced the phase-out of traditional coal-based power plants by 2030 and is looking to replace the capacity with hydro and renewable power sources. Canada also has an abundance of solar resources. The country is increasing its installed renewable capacity to meet the electricity demand in the future and reduce its carbon emission simultaneously. Canada also has large proven reserves of natural gas and oil.

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.

Key Canada Power Market Sectors

The key sectors in the Canadian power market are the residential sector, commercial sector, industrial sector, and transport sector. In 2021, the industrial sector had the dominant share in the power consumption market.

Canada Power Market Analysis by Sectors

Canada Power Market Analysis by Sectors

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Key Deal Types in Canada Power Market

The key deal types in Canada power market are equity offerings, venture financing, debt offerings, asset transactions, partnerships, acquisitions, private equity, and mergers.

Canada Power Market, By Deal Types

Canada Power Market, By Deal Types

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Key Market Players in Canada Power Market

Some of the key market players in the Canada power market are Hydro-Quebec, Ontario Power Generation, BC Hydro, TransAlta Corp, Manitoba Hydro-Electric Board, and Nalcor Energy Ltd.

Canada Power Market Analysis by Players

Canada Power Market Analysis by Players

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Market Report Overview

Cumulative Installed Capacity (2021) 151.6 GW
CAGR (2021-2035)  >1%
Forecast Period 2022-2035
Key Sectors  Residential Sector, Commercial Sector, Industrial Sector, and Transport Sector
Deal Types Equity Offerings, Venture Financing, Debt Offerings, Asset Transactions, Partnerships, Acquisitions, Private Equity, and Mergers
Key Market Players  Hydro-Quebec, Ontario Power Generation, BC Hydro, TransAlta Corp, Manitoba Hydro-Electric Board, and Nalcor Energy Ltd

Scope 

This report provides: 

  • Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity import and export scenario, degree of competition, regulatory scenario, and future potential of the power sector.
  • Statistics for installed capacity, generation, and consumption from 2010 to 2021, and forecast for the next 14 years to 2035.
  • Capacity, generation, and major power plants by technology.
  • Data on leading active and upcoming power plants.
  • Information on transmission and distribution infrastructure, and electricity imports and exports.
  • Policy and regulatory framework governing the market.
  • Detailed analysis of top market participants, including market share analysis and SWOT analysis.

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.

Key Players

Hydro-Quebec
Ontario Power Generation Inc.
BC Hydro
TransAlta Corp
Manitoba Hydro-Electric Board
Nalcor Energy Ltd

Table of Contents

Table of Contents

1. Executive Summary

1.1 Canada can achieve 2035 non-emitting sources target if it implements comprehensive policies

1.2 Hydropower to continue to dominate power capacity and generation mix by 2035

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, 2010–2021

– Deals by Type, 2021

4.4 Canada Power Market, Demand Structure

– Power Consumption by Sector, 2021

5. Canada Power Market, Regulatory Scenario

5.1 Thermal Power Policy

5.2 Hydropower Policy

5.3 Nuclear Power Policy

5.4 Renewable Energy Market, Overview

– Renewable Energy Targets

5.5 Federal Programs, Canada

– New Federal Tax Policy

– New Carbon Tax

– Federal Incentive Programs

– Hydrogen Energy

5.6 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

5.7 Renewable Energy Policy Framework, British Columbia

– Clean Energy Act

– Hydro Net Metering

– Climate Change Accountability Act

– CleanBC Plan

– Carbon pricing

– Innovative Clean Energy Fund

– B.C Hydrogen Strategy

5.8 Renewable Energy Policy Framework, Manitoba

– Climate and Green Plan

– Clean Energy Strategy

– Residential Earth Power Loan

– Green Energy Equipment Tax Credit

5.9 Renewable Energy Policy Framework, New Brunswick (NB)

– Climate Change Action Plan

– New Brunswick Regulation 2015-60

– Renewable Portfolio Standard

– Net Metering

– Community Renewable Energy

– Large industrial renewable energy purchase program

5.10 Renewable Energy Policy Framework, Newfoundland and Labrador

– 2007 Energy Plan

– Net Metering

– Biogas Electricity Generation Program

5.11 Renewable Energy Policy Framework, Northwest Territories (NWT)

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

– Arctic Energy Alliance (AEA)

– Net Metering

5.12 Renewable Energy Policy Framework, Nova Scotia

– Renewable Electricity Plan, 2010

– Renewable Electricity Standard Regulations

– Updated Renewables Target

– Business Plan 2021-2022

– 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)

5.13 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

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

– Provincial Energy Strategy (2016)

– Tax exemption

– Clean Energy Price Incentive

– Net metering

– Solar Electric Rebate Program

– Energy Saving Bonds

– Climate Change Action Plan 2018-2023

5.15 Renewable Energy Policy Framework, Quebec

– Energy Policy 2030

– 2018-2023 Action Plan

– Net Metering

5.16 Renewable Energy Policy Framework, Saskatchewan

– Renewable Energy Targets

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

– Net Metering Program

6. Canada Power Market, Capacity and Generation

6.1 Cumulative Capacity Share by Technology, 2021

6.2 Total Power Capacity and Generation, 2010–2035

6.3 Thermal Power Capacity and Generation, 2010–2035

6.4 Hydropower Capacity and Generation, 2010–2035

6.5 Nuclear Power Capacity and Generation, 2010–2035

6.6 Renewable Power Capacity and Generation, 2010–2035

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

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List of Tables

List of Tables

Table 1: Power Market, Canada, Macroeconomic Factors, 2010–2030

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, 2022

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

Table 7: Power Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Table 8: Power Market, Canada, Cumulative Capacity and Annual Generation Share by Technology, 2010–2035

Table 9: Thermal Power Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Table 10: Thermal Power Market, Canada, Major Plants, 2021

Table 11: Hydropower Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Table 12: Hydropower Market, Canada, Major Plants, 2021

Table 13: Nuclear Power Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Table 14: Nuclear Power Market, Canada, Major Plants, 2021

Table 15: Renewable Power Market, Canada, Cumulative Capacity (GW), 2010–2035

Table 16: Renewable Power Market, Canada, Annual Generation (TWh), 2010–2035

Table 17: Renewable Power Market, Canada, Major Plants, 2021

Table 18: Power Market, Canada, Transmission Line Length (Ckm) by Voltage Level, 2010–2025

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

Table 20: Power Market, Canada, Annual Electricity Import and Export (TWh), 2000–2020

Table 21: Power Market, Canada, Upcoming Interconnection Projects

Table 22: Abbreviations

List of Figures

List of Figures

Figure 1: Capacity Additions, Canada, Current Forecast Vs. Required Target, 2021–2035

Figure 2: Hydropower Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Figure 3: Power Market, Canada, Country Summary

Figure 4: Power Market, Canada, Macroeconomic Factors, 2010–2030

Figure 5: Power Market, Canada, Market Structure

Figure 6: Power Market, Canada, Market Share of Generation Companies (%), 2021

Figure 7: Power Market, Canada, Deal Value and Number of Deals, 2010–2021

Figure 8: Power Market, Canada, Deals by Type (%), 2021

Figure 9: Power Market, Canada, Annual Power Consumption, 2010–2035

Figure 10: Power Market, Canada, Power Consumption by Sector (%), 2021

Figure 11: Power Market, Canada, Cumulative Capacity Share by Technology (%), 2021

Figure 12: Power Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Figure 13: Power Market, Canada, Capacity Share by Technology, 2010–2035

Figure 14: Power Market, Canada, Annual Generation Share by Technology, 2010–2035

Figure 15: Thermal Power Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Figure 16: Hydropower Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Figure 17: Nuclear Power Market, Canada, Cumulative Capacity and Annual Generation, 2010–2035

Figure 18: Renewable Power Market, Canada, Cumulative Capacity, 2010–2035

Figure 19: Renewable Power Market, Canada, Annual Generation, 2010–2035

Figure 20: Power Market, Canada, Annual Electricity Import and Export, 2000–2021

Frequently Asked Questions

The cumulative installed capacity in the Canada power market was 151.6 GW in 2021.

The power market in Canada is expected to achieve a CAGR of more than 1% during 2021-2035.

The key sectors in the Canada power market are the residential sector, commercial sector, industrial sector, and transport sector.

The key deal types in the Canadian power market are equity offerings, venture financing, debt offerings, asset transactions, partnerships, acquisitions, private equity, and mergers.

Some of the key market players in the Canadian power market are Hydro-Quebec, Ontario Power Generation, BC Hydro, TransAlta Corp, Manitoba Hydro-Electric Board, and Nalcor Energy Ltd.

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.

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