The forecast for thermal electric power generation at private electric utilities in Canada shows a declining trend from 2024 to 2028. This fall follows an expected 2024 generation of 6.3912 million kilowatts. By 2028, the forecast predicts a decrease to 5.0642 million kilowatts. Compared to 2023, there is a consistent year-on-year decrease in power generation, highlighting a notable shift. The compound annual growth rate (CAGR) over these five years reflects a steady downturn, signifying a gradual move towards potentially more sustainable energy sources.
Future trends to watch include:
- Continued investment in renewable energy to reduce dependency on thermal power.
- Impact of regulatory policies focused on carbon emission reductions.
- Technological advancements improving thermal power efficiency.
- Fluctuations in global fuel prices influencing operational costs.
