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Carney outlines plan to boost power generation through ‘massive investment’ and borrowing
The federal government announced Thursday it has begun consultations with provincial and territorial governments, utilities, unions and Indigenous Peoples to develop a national strategy to double the size of Canada’s power grid.
Although dubbed a “national electricity strategy,” the announcement largely reiterated longstanding federal priorities such as increasing interties between provincial electricity grids, accelerating regulatory approvals for large projects and supporting nuclear power projects. The government also said it wants to strengthen domestic manufacturing of components such as transformers and wind turbine towers, and address labour shortages in the electricity sector.
Speaking in Ottawa, Prime Minister Mark Carney said Canada would achieve the proposed doubling of power generation by 2050 through “massive investment” and borrowing “using our AAA balance sheet. ”“Be too timid, and Canadians will end up short of power – losing good jobs and growing reliant on foreign suppliers. ” According to the government, electricity accounts for about one-fifth of all energy use in Canada today.
Most of the country’s emissions come from other energy sources; federal officials said much of that consumption could be switched to electricity, reducing the country’s overall greenhouse gas emissions.
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