According to study, “Canada Power Market Outlook to
2030, Update 2018 - Market Trends, Regulations, and Competitive Landscape”
some of the major companies that are working in the Canada power market are Hydro-Quebec,
Ontario Power Generation Inc, BC Hydro, TransAlta Corporation, Manitoba Hydro-Electric
Board, Crown Corporations.
The power market in Canada has
played a significant role in the economic and political life of the country.The
market varies from province to province in country. Each province controls the
electricity generation, intra-provincial electricity transmission, electricity
distribution and market structure within its borders.Five provinces and
territories generated the vast majority oftheir electricity from hydro. The 66%
of power comes from renewable sources. By the end of 2017, the Canada had total
installed power generation capacity of 135gigawatts (GW).
The primary sources of power
generated are hydro power, nuclear energy, coal, natural gas, wind power and
solar power. The renewable energy accounts forthe significant contribution in the
country’s energy matrix such as hydro, wind, solar and biomass. Hydropower can
provide unique flexibility and energy storage capacity and also can help
control floods and store water for irrigation. Canada is the world’s second
largest producer of hydroelectricity, accounts for about 60 percent of the
overall capacity.
Despite various policies and
programs in support ofrenewables, new capacity additions in Canada have
beenlimited as a result of low growth in electricity demand andthe long
operating life of existing facilities. Cost concernsand local opposition have
also limited the growth opportunities. Canada exports nearly 10% of its power
to USA and the majority of exports come from hydropower.This helps eliminate
millions of tons of CO2 emissions each year.
In Canada, there are many
regulatory authorities of power market, which are; national energy board (NEB),
Ontario energy board (OEB), Canadian nuclear safety commission and Alberta
utilities commission. NEB federal agency has jurisdiction over electricity
exports and inter-provincial electricity transmission. OEB regulates all
electricity market participants, including Hydro One (grid operator), Ontario
Power Generation, and the Independent Electricity System Operator, as well as a
myriad generators, transmitters, distributors, wholesalers, and retailers: it
also actively regulates retail natural gas distribution and sales. Canadian
nuclear safety commission federal agency regulates safety at nuclear power
plants and research facilities and the use of nuclear materials such as radionuclide.
Additionally, Alberta Utilities Commission regulates retail natural gas
distribution and sales in addition to electricity sector activities.
Adoption of new technologies can
be encouraged by climate policies, such as carbon pricingor other options,
which improve the competitiveness of low or non-emitting technologies.Canadian
Electricity Association members generate, transmit and distribute electrical
energy to industrial,commercial, residential and institutional customersacross
Canada every day.The industry is adapting to the major technologicalchanges
including greater use ofinformation technology, smart grid
applications,renewable technology integration, electrificationof transportation
and the development of moredecentralized forms of generation.
In 2017, Canada’s installed wind
energy capacity was 12,796 megawatts (MW) enough to power over 3.8 million
homes, which has grown by an average of 15% annually. In 2018, Canada is the
world’s ninth largest producer of wind power.There are 297 wind farms in
country.It is estimated that, total investment in the power generation sector
will be reached US$290 billion by 2030.
In the upcoming years, electricity demand will continue to grow with the
conservation efforts promoting of hydropower industry.
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