Nuclear energy generation in Canada at private electric utilities has shown varied growth from 2013 to 2023. Despite some fluctuations, the general trend has been upward. Nuclear generation stood at 73.314 million kilowatts in 2023, marking a 0.55% year-on-year increase over the prior year. Over the last five years, the Compound Annual Growth Rate (CAGR) was 0.58%, indicating moderate and steady growth.
Looking ahead, forecasted data from 2024 to 2028 suggests continued growth at a slightly slower pace. The five-year CAGR is expected to be 0.44% with a total growth rate of 2.21% over this period. This slower growth could be influenced by technological advancements, regulatory changes, or shifts in energy policy.
Future trends to watch for include:
- The impact of government policies favoring renewable energy sources over nuclear.
- Technological advancements in nuclear energy that could either boost efficiency or present new challenges.
- Economic factors affecting demand for nuclear energy and overall consumption patterns.