Canada Power Market Outlook to 2035 – Market Trends, Regulations and Competitive Landscape
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Canada Power Market Report Overview
The annual power consumption in Canada was 555.4TWh in 2022. It is expected to have a CAGR growth of less than 1% during 2022-2035. The majority of Canada’s annual power generation comes from hydropower. However, high dependence on hydropower generation is one of the major challenges for the Canadian power sector. As a result, the Canadian government is taking gradual steps toward adopting renewable power. The Canadian Government has 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 Power Market Outlook (2022-2035)
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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.
Total Power Consumption (2022) | 555.4TWh |
CAGR (2022-2035) | <1% |
Historical Period | 2010-2022 |
Forecast Period | 2023-2035 |
Key Sector | · Industrial Sector
· Residential Sector · Commercial Sector · Transport Sector |
Key Deal Types | · Equity Offerings
· Acquisition · Partnerships · Debt Offerings · Venture Financing · Asset Transactions · Private Equity |
Key Companies | · Hydro-Quebec
· Ontario Power Generation Inc · BC Hydro · Manitoba Hydro-Electric Board · Nalcor Energy Ltd |
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Canada Power Market by Sectors
The industrial sector had the dominant share in power consumption in 2022
The key sectors in the Canada power market are the residential sector, industrial sector, transport sector, commercial sector, and other sectors. In 2022, the industrial sector accounted for the highest share in power consumption in the Canada power market, followed by the residential sector and the commercial sector.
Canada Power Consumption Market Analysis by Sectors, 2022 (%)
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Canada Power Market Segmentation by Deal Types
Most of the deals in the Canada power market were equity offerings in 2022
The key deal types recorded in the Canada power market in 2022 are partnerships, debt offerings, acquisitions, asset transactions, and others. A total of 217 deals were executed in 2022. Equity offerings dominated Canada’s power market in 2022, followed by acquisition and partnerships based on deal types.
Canada Power Market Analysis by Deal Types, 2022 (%)
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Canada Power Market – Competitive Landscape
In 2022, Canada’s power generation market was dominated by Hydro-Quebec
The key companies in the Canada power market include:
- Hydro-Quebec
- Ontario Power Generation Inc,
- BC Hydro
- Manitoba Hydro-Electric Board
- Nalcor Energy Ltd
Hydro-Quebec: Hydro-Quebec is a state-owned energy utility that generates, transmits and distributes electricity. The company produces power from the sources such as hydro, diesel, gas, nuclear, wind, solar, biomass and others. Hydro-Quebec markets system capacity and manages electricity flow across Quebec; provides customer services and promotes energy efficiency. The company also designs, constructs, and renovates the generation and transmission facilities, primarily for Hydro-Quebec Production and Hydro-Quebec TransEnergie. The company also develops battery materials for electric vehicles and has a presence in the electric powertrain market. The company has operations in the US and Canada. Hydro-Quebec is headquartered in Montreal, Quebec, Canada.
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Latest Developments
- In March 2023, Hydro-Quebec accepted seven projects totaling nearly 1,150 MW of Wind Power. This could let the company expand its power generation assets and help diversify the source of power generation.
- In March 2023, Ontario Power Generation Inc joined GE-Hitachi, TVA and Synthos to advance new nuclear technology. Through this collaboration, the company aims to develop and deploy the GEH BWRX-300 Small Modular Reactor globally. This collaboration is also aimed at developing new nuclear power technologies, which are designed to reduce the construction cost and keep the operating costs low.
Segments Covered in the Report
Canada Power Type Industry Outlook (Value, 2010-2035)
- Residential Sector
- Industrial Sector
- Transport Sector
- Other Sector
- Commercial Sector
Canada Power Market Deal Type Outlook (Value, 2010-2035)
- Equity Offerings
- Acquisition
- Partnerships
- Debt Offerings
- Venture Financing
- Asset Transactions
- Private Equity
Scope
- Snapshot of the country’s power sector across parameters – macroeconomics, supply security, generation infrastructure, transmission infrastructure, electricity imports and exports scenario, degree of competition, regulatory scenario, and future potential of the power sector.
- Statistics for installed capacity, generation, and consumption from 2010 to 2022, and forecast for the next 13 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, 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 market opportunities and business plan strategies through our comprehensive analysis of investment opportunities in the country’s power sector.
- Identify key factors driving investment opportunities in the country’s power sector.
- Optimize strategic decision-making through our historical and forecast data.
- Create accurate data governance by understanding the latest regulatory events.
- Understand 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.
Ontario Power Generation Inc
BC Hydro
TransAlta Corp
Manitoba Hydro-Electric Board
Nalcor Energy Ltd
Table of Contents
Table
Figures
Frequently asked questions
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What was the total power consumption in Canada's power market in 2022?
The annual power consumption in Canada was 555.4TWh in 2022.
-
What is the Canada power market growth rate?
The Canada power market is expected to grow at a CAGR of less than 1% during 2022-2035.
-
Which sector dominated the Canada power market in terms of consumption?
In 2022, the industrial sector accounted for the dominant share in power consumption in the Canada power market.
-
Which was the preferred deal type in the Canada power market?
Equity offerings was the preferred deal type in Canada’s power market in 2022.
-
Which are the key market players in the Canada power market?
The key companies in the Canada power market include Hydro-Quebec, Ontario Power Generation Inc, BC Hydro, Manitoba Hydro-Electric Board, and Nalcor Energy Ltd, among others.
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