Electricity Canada launches fifth annual state of the industry report, "Build it"
OTTAWA, ON, Feb. 28, 2023 /CNW/ - Canada will not be able to make its climate commitments unless it starts building a clean, reliable and affordable electrical grid, according to a new report.
Build it, Electricity Canada's fifth annual State of the Canadian electricity industry report explains that in order to reduce the impact of climate change, Canadians need to be able to turn away from carbon-emitting energy and use electricity as a primary power source. To do that, Canada's electricity providers need to expand the capacity of our grid—which is already 84 per cent carbon-free—and make it almost completely non-emitting by 2035 – just twelve years away.
Despite many gains with last year's Federal budget, electricity investment is being held back by a complicated regulatory framework where each province and territory has its own individual approach to electricity generation, ownership and investment as well as a cumbersome infrastructure permitting process.
The report proposes several solutions including:
- Creating a Canadian electricity strategy to coordinate funding, build infrastructure projects and work with the electricity sector to implement the large-scale infrastructure projects electrification would bring.
- Making the grid affordable by tax-base funding in addition to ratepayer funding.
- Increasing access to federal and provincial infrastructure funding, tax credits and incentive schemes.
The report also highlights the need for the electricity grid to be made more adaptable in extreme weather, as well as the need to ensure the electricity industry retains a strong labour force.
The report is being launched at the GLOBEXCHANGE forum 2023 in Toronto on February 28.
- Read Build it – the state of the Canadian electricity industry 2023
- Watch Electricity Canada CEO Francis Bradley explain net zero
QUOTE:
"Canada must invest in a clean 21st century economy that can create jobs and build more prosperous communities. That's why it's important that we electrify Canada now to reduce carbon emissions and to fight the impact of climate change. To make this happen we need a Canadian electricity strategy to bring together federal and provincial governments, electricity providers, consumers, other stakeholders and Canada's Indigenous Peoples to work together to make this important thing happen. A clean energy future is waiting for us. We just need to start building it."
-Francis Bradley, CEO, Electricity Canada
Founded in 1891, Electricity Canada (formerly the Canadian Electricity Association) is the national forum and voice of the evolving and innovative electricity business in Canada. The Association supports, through its advocacy efforts, the regional, national, and international success of its members. Electricity Canada members generate, transmit, and distribute electrical energy to industrial, commercial, residential, and institutional customers across Canada. Members include integrated electric utilities, independent power producers, transmission and distribution companies, power marketers, and system operators, who together deliver electricity to all Canadians, in every province and territory.
SOURCE Electricity Canada
Graeme Burk, Director of Communications, [email protected], 613.809.0720
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