Northland Power Inc (Ontario) T.NPI

Need more capacity! Coming from where?

[Dibah420]

Canada will need more electricity capacity if it wants to hit its climate targets, according to a new report from a global energy agency. The International Energy Agency (IEA) report, released Thursday morning, offers mainly a rosy picture of Canada's overall federal energy policy. But the IEA draws attention to Canada's increasing future electricity demands and ultimately calls on Canada to leverage its non-emitting energy potential to hit its climate targets. The IEA notes that Canada has one of the cleanest energy grids globally, with 83 per cent of electricity coming from non-emitting sources in 2020. But the report warns this is not a reason for Canada to rest on its laurels. More electricity will be needed to displace fossil fuels if Canada wants to hit its 2030 targets, the report states, and "even deeper cuts" will be required to reach net-zero by 2050. "Perhaps more significantly, however, Canada will need to ensure sufficient new clean generation capacity to meet the sizeable levels of electrification that its net-zero targets imply."  Read more on this story.