Canada’s electricity consumption to soar by 2050; natural gas production and renewable energy to soar, report says

 

 

A new report from the Canadian Energy Regulator (CER) predicts that Canada’s energy sector will undergo major changes in the coming decades. The report says that the country’s electricity demand will increase by 44 per cent between 2023 and 2050. The growth of households, large industries and artificial intelligence data centres is the main reason for this surge.

The report also shows that wind farms will be at the forefront of renewable energy sources. Wind power generation, which was 40 terawatt-hours in 2023, is likely to increase to 277 terawatt-hours by 2050. In addition, solar energy, nuclear energy and natural gas will also be used to ensure energy security. Ontario is building four small nuclear power plants at a cost of more than $20 billion. The provinces of Alberta and Saskatchewan are also considering similar nuclear projects.

Despite the expected increase in natural gas production, the future of the petroleum sector is uncertain. Depending on global market prices, oil production could increase by 18 percent or decrease by 12 percent. The report suggests that oil production could peak by 2042 and decline thereafter.