In Canada, nuclear energy generation has exhibited a declining trend from 2013 to 2023, dropping from 102.72 to 87.27 Terawatthours (TWh). The generation dipped significantly between 2020 and 2022, with the steepest drops noted as -2.97% in 2020, -5.67% in 2021, and -5.81% in 2022. However, 2023 saw a slight recovery with a year-on-year increase of 0.73%. The Compounded Annual Growth Rate (CAGR) over the last five years (2018 to 2023) was -2.69%, indicating a downward trend.
From 2024 onwards, nuclear energy generation is projected to increase gradually, rising from 87.88 to 90.16 TWh by 2028, with a forecast 5-year CAGR of 0.51% and a total growth rate of 2.59% over this period.
Future trends to watch for include technological advancements, policy changes, and investment in nuclear energy infrastructure that could lead to higher efficiency and potentially further increase in energy generation. Additionally, global movements towards clean energy could influence Canada's energy mix and improve its nuclear energy outlook.
