The electricity generation capacity at private electric utilities in Canada is forecasted to decline steadily from 2024 to 2028. As of 2023, this capacity stood at 18.245 million kilowatts. In 2024, the capacity is forecasted to be 17.862 million kilowatts, representing a decrease of approximately 2.1% from the previous year. This downward trend is expected to continue through 2028.
Year-on-year variation percentages are as follows:
-2024: -2.1% (compared to 2023)
-2025: -2.1% (compared to 2024)
-2026: -2.1% (compared to 2025)
-2027: -2.1% (compared to 2026)
-2028: -2.1% (compared to 2027)
The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is -2.1%. This consistent annual decrease indicates a shrinking capacity trend over the forecasted period.
Future trends to watch for include ongoing investments in renewable energy sources and regulatory changes that may affect the utility market. Increased emphasis on sustainability and advancements in technology could potentially alter the energy landscape and influence capacity expectations in the coming years.